Iran Opens Hormuz Route for Iraqi Oil Tankers
Iran has allowed several Iraqi oil tankers to pass through the Strait of Hormuz after repeated requests from Baghdad. The Iranian government gave permission to a number of tankers, but did not specify how many or when they would cross. The move follows talks between Iraqi Parliament Speaker Haibat Al-Halbousi and his Iranian counterpart Mohammad Bagher Ghalibaf.
Baghdad has been seeking arrangements with Iran and the US to secure crude shipments through the waterway, which is a critical route for Iraq's oil exports. Earlier this week, a government source told Shafaq News that the State Organization for Marketing of Oil (SOMO) was negotiating with US and German shipping companies over Iraqi-flagged tankers.
Iraqi oil exports have been severely disrupted due to the closure of the Strait of Hormuz. Shipments averaged about 1.4 million barrels per day in July, down from roughly 500,000 bpd in June and 100,000 bpd in May. Baghdad is also exploring alternative export routes through Turkey, Syria, and Jordan.