Iraq urges buyers to submit oil export plans after Hormuz exemption

Iraq’s state-run oil marketer has urged its customers to submit crude lifting schedules within 24 hours, following reports that Tehran has exempted Baghdad from restrictions on transit through the Strait of Hormuz.

In a letter issued on April 5, the State Oil Marketing Organisation (SOMO) said it was crucial to receive the plans quickly so that vessel nominations and contractual volumes could be processed, ensuring “the continuity and stability of crude oil export operations,” Caliber.Az reports via foreign media.

“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,” the document said.

It added that all facilities, including the Basrah Oil Terminal, were fully operational and SOMO was “in a state of full readiness to execute all contractual lifting programmes without any limitation.”

The move comes after media reports that Iran has exempted Iraq from any restrictions on transit through the Strait of Hormuz, a major shipping route for crude exports. The exemption could in theory, allow Iraqi oil shipments to resume via the Gulf despite the ongoing conflict in the region.

However, traders and analysts remain cautious. Iraq’s oil output collapsed to around 800,000 barrels per day last month amid disruptions caused by the US‑Israeli war with Iran and the de facto closure of the strait to most shipping.

By Aghakazim Guliyev