Peregraf — Iraq’s Ministry of Oil said Tuesday that tankers carrying Iraqi crude continue to transit the Strait of Hormuz, while stressing that responsibility for the cargo transfers to buyers once oil is loaded at Iraqi export terminals.
Oil Ministry spokesperson Salim al-Rukabi told the Iraqi News Agency (INA) that Iraq sells its crude under the Free On Board (FOB) system, under which ownership and transportation responsibilities pass to the buyer after the cargo is loaded at port.
“After leaving the port, the tankers pass through the Strait of Hormuz, and the ministry bears no responsibility for their routes or obtaining the necessary approvals,” al-Rukabi said.
He added that although tankers carrying Iraqi crude continue to pass through the strategic waterway, the ministry neither owns the vessels nor manages their movements after departure.
“The Ministry of Oil sells crude oil at the port, after which the buyer assumes full responsibility for transporting and managing the cargo,” he said, noting that some tankers carry as much as 2 million barrels of crude oil.
Al-Rukabi said the ministry nevertheless monitors tanker movements through global tracking systems, while Iraq’s State Oil Marketing Organization (SOMO) follows shipments until they reach their destination refineries.
He added that Iraq’s oil exports have shown gradual improvement in recent months.
“The past month was better than the one before it, and the preceding month was better than the one prior to it,” he said, attributing the improvement to a recovery following disruptions linked to the Strait of Hormuz export crisis.
The comments come two days after Oil Minister Basim Mohammed Khudair said Iraq was holding talks with Iran to facilitate the smooth movement of oil tankers through the Strait of Hormuz and expressed hope that the two sides would reach understandings to protect shipping and ensure uninterrupted exports.