Iraq redirected crude oil exports to Syrian ports
Baghdad, May 9 (Hibya) - Iraq has begun redirecting its crude oil exports to Syrian ports by tanker trucks in an effort to reduce its dependence on the Strait of Hormuz due to ongoing regional tensions.
According to CCTV, Iraq redirected its crude oil exports to Syrian ports by truck in order to reduce its dependence on the Strait of Hormuz.
Disruptions in the Middle East affected Iraq's oil exports. In March, the country's crude oil exports dropped from 99.8 million barrels in February to approximately 18.6 million barrels.
To reduce the impact of shipping disruptions in the Gulf, Iraq’s State Oil Marketing Organization (SOMO) signed a contract accepting the transportation of approximately 650 thousand tons of fuel oil per month via Syria between April and June as a trial phase.
Under the agreement, Iraqi oil is transported by road to Syria’s Baniyas oil terminal on the Mediterranean coast and later loaded onto sea tankers for export.
British News Agency
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