Iraq seeks to buy crude oil tankers to handle shipments beyond Strait of Hormuz: INA

AI Summary

Iraq’s state-owned oil tanker company plans to buy and own crude carriers so it can transport oil beyond the Strait of Hormuz instead of transferring cargo to buyers at Basrah. The initiative is intended to give Iraq more direct control over crude shipments.

Iraqi Oil Tankers Co. aims to purchase and own crude oil tankers, allowing it to ship crude beyond the Strait of Hormuz rather than offloading it to buyers at Basrah port, the state-run Iraqi News Agency reported Oct. 3, citing Ali Qais, the company’s director general. The first shipment of Iraqi crude, using the company’s ...