Iraqi Oil Ministry Clarifies Crude Tanker Movement in Hormuz

Iraq's Ministry of Oil revealed details Tuesday on the movement of Iraqi crude tankers through the Strait of Hormuz and responsibilities for shipment transport. It affirmed monitoring these via global systems until consignments reach refineries. Ministry spokesman Salim Al-Rakabi stated the Ministry sells crude oil 'Free On Board (FOB) Port'. He clarified that tankers pass through Hormuz post-departure, but the Ministry bears no responsibility for their routes or necessary approvals. Al-Rakabi confirmed loaded oil tankers' passage through Hormuz is standard, though the Ministry assumes no responsibility for their paths or required permits. It sells crude at the port; the buyer is then responsible for transport and cargo disposition. He added the Ministry doesn't own these tankers nor relates to their movement post-departure, some carrying up to two million barrels. He also indicated the Ministry tracks tanker movements via global systems, and the State Oil Marketing Organization (SOMO) monitors shipment arrival at refineries. On exports, Al-Rakabi clarified oil sales improved gradually recently, each month better than the last, reflecting continuous recovery post-Hormuz export crisis.