Iraq's state oil tanker moves 2 million barrels through Strait of Hormuz
Iraq's state-owned Oil Tanker Company shipped 2 million barrels of crude on a VLCC through the Strait of Hormuz, its first such transit in decades.
Iraq’s state-owned Oil Tanker Company successfully transported 2 million barrels of crude on a very large crude carrier through the Strait of Hormuz, marking the first such passage in decades. Director general Ali Qais Abdul Jabbar explained that the move allows the state oil marketer SOMO to sell the oil with greater flexibility and potentially secure more favorable prices. The operation bypasses the traditional delivery point at the port of Basra, opening new routing options.
The company is also seeking to purchase and operate dedicated crude tankers to enlarge its fleet and better compete with regional shipping firms. Iran has previously granted Iraqi tankers permission to transit the strait, despite having closed it during its conflict with the United States. This development could reshape Iraq’s crude export logistics and market positioning.
Why it matters
It gives Iraq a new, flexible route for crude exports, affecting global oil markets and regional shipping dynamics.
How this story developed
- Sep 11 Smoke spotted near Saudi East-West oil pipeline as Houthi advances intensify
- Sep 25 Iranian President Masoud Pezeshkian arrived in New York, the first Iranian head of state to set foot in the United States.
- Sep 26 Iran awaited an official U.S. reply to its UN‑transmitted peace initiative.
- Sep 26 In a speech to the UN General Assembly, Han Zheng highlighted China's view that global progress should be built on development and open cooperation. He warned that protectionist policies benefit no one and reiterated support for multilateral dialogue. The address also touched on the Middle East conflict, AI and the Belt and Road initiative, but did not mention Taiwan despite heightened US-China tensions. Analysts noted the speech was routine, with President Xi absent and senior officials rotating representation at the UN.
- Sep 26 Gulf leaders scheduled a meeting with Donald Trump to seek a diplomatic path with Iran.
- Sep 27 Iranian President Masoud Pezeshkian said Iran will remain resolute and not retreat despite President Donald Trump's rejection of Iran’s seven‑day ceasefire and Strait of Hormuz reopening proposal.
- Sep 28 Han Zheng’s address emphasized Belt and Road cooperation with three‑quarters of participating nations.
- Sep 29 The U.S. Treasury announced sanctions on ten individuals and firms accused of obtaining weapons components for Iran's defence ministry.
- Oct 1 A Flydubai flight from Dubai to Tel Aviv was forced to land in Saudi Arabia after the Omani co-pilot assaulted the captain in the cockpit.
- Oct 2 The United States has now sanctioned Iran's automotive and railway sectors.
- Oct 2 President Trump said investigators are working to determine whether Iran is linked to the co‑pilot.
- Oct 3 A second tanker was hit east of Oman, adding to the earlier incident in the strait.
- Oct 3 A witness observed a large plume of fire and smoke near an Aramco facility in Riyadh on Saturday, with authorities yet to confirm the incident.
- Oct 3 Saudi jets launched 26 strikes on Sanaa following the fire at the Aramco site.
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