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Iraq to Deliver Oil beyond Hormuz
Rigzone · August 28, 2026 · Week 2026-35
Summary
Iraq's state oil marketer, SOMO, is offering Basrah crude grades for collection via ship-to-ship transfer near the Omani coast. This logistical shift allows buyers to bypass the strategic Strait of Hormuz chokepoint, de-risking exports from potential geopolitical disruptions.
Strategic Implication
This provides a crucial alternative export route for Iraqi crude, enhancing supply security for customers concerned about instability in the Strait of Hormuz.