Iraqi Oil Tankers Co. moves 2 million barrels of crude past Hormuz

Iraqi oil exports Strait of Hormuz VLCC tanker SOMO crude oil logistics

The Iraqi Oil Tankers Company has successfully transported 2 million barrels of crude oil beyond the Strait of Hormuz using a Very Large Crude Carrier (VLCC). This operation, described by Director General Ali Qais Abdul Jabbar as the first of its kind in decades, marks a strategic shift in Iraq’s oil marketing approach.

Previously, Iraqi crude was typically sold on a Free on Board (FOB) basis at Basra port, leaving buyers responsible for arranging transport. By taking responsibility for moving shipments beyond the Strait, the company aims to provide the State Organization for Marketing of Oil (SOMO) with greater flexibility and better pricing opportunities. This move is intended to attract refiners who may be hesitant to send vessels through the Strait due to regional tensions.

To support this new strategy, the company is actively seeking funding and opportunities to purchase and own its own fleet of specialized crude oil tankers. This expansion is designed to enhance Iraq’s logistical capabilities and allow its state-owned shipping firm to compete more effectively with regional maritime operators.

Entities

Ali Qais · Ali Qais Abdul Jabbar · Basra · Iraq Tanker Company · Iraqi Oil Tankers Co. · Iraqi Oil Tankers Company · State Organization for Marketing of Oil · Strait of Hormuz

Claims

What the coverage asserts, and how many sources carry each claim.

[● 13 SOURCES] The company is moving from a Free on Board (FOB) delivery model at Basra port to delivering oil directly outside the Strait of Hormuz. almanartv.com.lb · s.alwakeelnews.com · www.insider.gr · www.newmoney.gr · 964media.com · +8 more
[● 13 SOURCES] The company is working to purchase and own its own specialized crude oil tankers to develop its fleet and compete regionally. 964media.com · www.albiladpress.com · almanartv.com.lb · s.alwakeelnews.com · www.elbalad.news · +8 more
[● 13 SOURCES] The shipment was transported using a Very Large Crude Carrier (VLCC). 964media.com · www.albiladpress.com · almanartv.com.lb · s.alwakeelnews.com · www.insider.gr · +8 more
[● 13 SOURCES] The new delivery method aims to provide the State Organization for Marketing of Oil (SOMO) with greater flexibility and better pricing opportunities. 964media.com · www.albiladpress.com · www.elbalad.news · almanartv.com.lb · s.alwakeelnews.com · +8 more
[● 13 SOURCES] The operation marks the first time in decades that the company has transported crude oil beyond the Strait of Hormuz. 964media.com · www.albiladpress.com · almanartv.com.lb · s.alwakeelnews.com · www.insider.gr · +8 more
[● 14 SOURCES] The operation involved the transport of 2 million barrels of crude oil. 964media.com · www.albiladpress.com · www.correiodamanhacanada.com · almanartv.com.lb · s.alwakeelnews.com · +9 more