This move follows an earlier shipment of 2 million barrels, the first of its scale by the state carrier in decades, as Baghdad seeks to give the state marketer SOMO more flexibility to secure better global prices. Commercial buyers have stopped sending ships to Basra as VLCC charter rates hit $1.3M a day and risks in the contested waterway have risen. While Iraq is assuming the freight and risk itself, these transits still require operational permission from Iran.
Wednesday, October 21, 2026
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Iraq’s State Tanker Moves 2.1 Million Barrels via Hormuz to Oman
Commodities14 days ago
The KIARA M, a very large crude carrier chartered by Iraq's state-owned Oil Tankers Co., is now anchored north of Sohar after transiting the Strait of Hormuz with 2.1 million barrels of crude. This shipment marks a shift in Iraqi exports by delivering oil off the coast of Oman rather than loading vessels at Basra. The state company expects to hire additional vessels in the coming days, including another VLCC and a Suezmax, and intends to purchase its own supertankers to reduce reliance on chartering.
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