Iraq’s oil exports through Hormuz hit 2.2 million bpd in August

Baghdad (IraqiNews.com) – The Iraqi Ministry of Oil said that the country’s crude oil exports through its southern marine outlets, which link to the Strait of Hormuz, fluctuated between two million and 2.2 million barrels per day in August.

The ministry stressed that these outlets are the major conduit for Iraqi oil exports and a vital part of the national export system.

The spokesperson for the Iraqi Oil Ministry, Salim al-Rikabi, indicated that southern outlets represent one of Iraq’s important export channels, citing the critical role that crude oil profits play in supporting the national economy.

As part of its attempts to increase the flexibility of the oil export system and minimize dependency on a single route, al-Rikabi stated that the ministry is supporting and developing various alternative export outlets through northern and western Iraq.

Al-Rikabi emphasized that Iraqi oil flows to the Turkish port of Ceyhan are continuing with volumes ranging between 150,000 and 180,000 barrels per day.

Advanced steps are being taken to explore the possibility of increasing oil exports through the Syrian port of Baniyas. This initiative would offer Iraq an additional outlet to the Mediterranean Sea, as stated by al-Rikabi.

The Iraqi official emphasized that these channels enhance the resilience of the export system and offer reliable alternatives when necessary. They also ensure the stability of Iraqi oil shipments to global markets.

In terms of transporting Iraqi crude oil through Jordan’s port of Aqaba, al-Rikabi stated that the project is still being studied technically and economically, with some critical issues yet to be completed.

The assessments include determining the total project cost and the targeted export capacity before any final decisions are made, according to al-Rikabi.

These Iraqi initiatives to develop alternative export channels arise as Baghdad aims to enhance the flexibility of its oil exports and diversify its export routes.

The attempts are part of Baghdad’s efforts to mitigate the risks associated with reliance on a single route while increasing the oil sector’s capacity to respond to regional and geopolitical developments.