Iraq ships 2 million barrels via Hormuz
Iraqi Oil Shipping Company announced that for the first time in decades, it transported two million barrels of crude oil via a giant vessel of the "VLCC" type through the Strait of Hormuz. This step aims to enhance Iraq's oil export options. The company's CEO confirmed that this move provides the state oil marketing company, SOMO, with an opportunity to sell crude oil at more favorable prices. Iraq also plans to purchase owned tankers to increase its competitiveness and support the development of a national fleet for oil transportation. These measures are part of Iraq's efforts to expand its export routes by switching between maritime transport and developing alternative pipeline infrastructure, in line with the government's direction to strengthen the capacity for national oil exports.
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