Iraq is working to charter several tankers to cross the Strait of Hormuz as it steps up moves to place its crude in global markets. A government spokesman said by text that the process is underway through state-owned Iraqi Oil Tankers Co. and has already won cabinet approval. No specific companies were named, and the hiring is still under negotiation.
With relatively few tanker owners prepared to sail into the Persian Gulf through Hormuz, Iraq and other producers have been increasingly offering barrels for pickup in the Gulf of Oman. That collection point is one option for how Baghdad could deploy any vessels it secures.
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Separately, Iraq's state oil marketing company reduced the discounts on crude sold for pickup at loading sites in the northern part of the Persian Gulf this week. A SOMO spokesman did not provide an immediate comment when contacted after Iraq's regular working hours regarding the price changes.
