Iraq has asked its oil-buying clients to submit loading schedules in the next 24 hours, Reuters has reported, citing a document from Baghdad’s oil marketing company SOMO.
The report follows another one, from the Financial Times, which said on Sunday that the Iranian army has allowed Iraqi vessels to pass through the Strait of Hormuz. The report cited Kpler data showing that the Ocean Thunder, carrying 1 million barrels of Basra heavy, had passed through the chokepoint.
“Brotherly Iraq is exempt from any restrictions we have imposed on the Strait of Hormuz, as those restrictions only apply to hostile states,” the FT cited a television statement by an army spokesman in Tehran.
“In light of the above, and to ensure the continuity and stability of crude oil export operations, we urge your esteemed company to submit its lifting schedules within 24 hours to enable the timely processing of your lifting programs, including vessel nominations and the contractual volumes, in full alignment with the agreed terms and conditions,” Iraq’s SOMO said in the document that Reuters cited in its report.
“We hereby reaffirm that all loading terminals, including the Basrah Oil Terminal (BOT) and associated facilities, remain fully operational, and SOMO is in a state of full readiness to execute all contractual lifting programs without any limitation,” Iraq’s oil marketing company also said.
The news is a positive development in the Middle Eastern situation, potentially alleviating a severe crunch in oil supply as regional producers were forced to shut in production as they ran out of storage space, and tanker traffic in the Strait of Hormuz was paralysed.
Last week, Windward reported that three Omani vessels had also passed through the Strait of Hormuz. Of these, two were crude tankers, and one was a liquefied natural gas carrier, in one more signal that individual negotiations with Tehran could help neighboring countries get some oil and gas out.
By Irina Slav for Oilprice.com
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