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Iraqi Oil Tankers Company transports crude
through the Strait of Hormuz

The state-owned Iraqi Oil Tankers Company transported 2,000,000 barrels of Iraqi crude oil through the Strait of Hormuz using a very large crude oil tanker, in the first operation of this kind carried out by the company in decades, according to what its general manager announced on Saturday.

This shipment represents a shift in the company’s operations, as it now transports crude oil through the strait instead of delivering it at the port of Basra. This change gives SOMO, the government oil marketer, greater flexibility in choosing sales markets and methods for Iraqi crude oil.

In an official statement, Ali Qais Abdul Jabbar, the company’s general manager, said that the new arrangement may enable SOMO to access better sales and pricing opportunities.#ZcashETFPostsFirstWeeklyOutflow$93.6M #GreekPoliceBustCryptoScamRingArrest17 #BitcoinRejectedAt$87K #FedOctoberRateHikeOddsFallTo17% #NvidiaHitsRecordHighUp2.4%