11:26 - 5.10.2026

---

October 5, Fineko/abc.az. Iraq’s state-owned Oil Tanker Company (IOTC) has successfully shipped 2 million barrels of crude oil through the Strait of Hormuz using a Very Large Crude Carrier (VLCC). Company Director General Ali Qais Abdul Jabbar stated that this marks the first such operation in decades.

Transporting crude via the Strait rather than handing it over at Basra Port provides Iraq's state marketer SOMO with greater commercial flexibility and better pricing opportunities. IOTC is also working to acquire specialized crude tankers to expand its fleet and boost competitiveness in the region, having previously secured passage permissions through the Strait amid regional maritime restrictions.