Iraq’s state oil marketer, SOMO, has asked its customers to submit crude oil lifting schedules within 24 hours, as authorities move to stabilise exports amid rising tensions in the Gulf.
The directive, issued in a document dated April 5, followed reports that Iran has exempted Iraq from any restrictions on transit through the Strait of Hormuz.
“In light of the above, and to ensure the continuity and stability of crude oil export operations, we urge your esteemed company to submit its lifting schedules within 24 hours,” SOMO said, noting that this would allow for proper coordination of vessel nominations and contractual volumes.
The agency also reassured buyers that all loading terminals, including the Basrah Oil Terminal and related facilities, remain fully operational. It added that it is ready to carry out all agreed export programmes without disruption.
The move comes as Iraq seeks to boost production after output reportedly dropped to about 800,000 barrels per day last month. A return to stable exports could help the OPEC member recover lost ground in the global oil market.
However, uncertainty remains. Industry players say it is unclear whether shipowners will be willing to send tankers into the Gulf, given the ongoing conflict involving the United States, Israel, and Iran, which continues to raise concerns over security in the region.
