Iraq's oil exports via Strait of Hormuz include Abu Dhabi's Adnoc, says SOMO director

Synopsis

Iraq’s oil marketing company SOMO says Abu Dhabi’s Adnoc is one of the companies buying Iraqi crude and moving shipments through the Strait of Hormuz. Adnoc’s trading arm is also offering Iraqi oil to Asian buyers, while Iraq’s crude exports through Hormuz have risen to around 2 million barrels per day. The increase underscores how heavily Iraq’s oil trade with Asian markets depends on the strategically important waterway.

Iraq’s oil exports through Hormuz have surged, with Adnoc among the buyers supplying Iraqi crude to Asian markets.

Iraq's oil marketing company said Abu Dhabi's main energy company was among firms buying its crude and sending cargoes out through the Strait of Hormuz. "Adnoc is one of the buyers SOMO deals with," along with other companies, Ali Nizar, director-general of SOMO, said in a text message. Abu Dhabi National Oil's trading arm is offering Asian buyers Iraqi supply by shutting cargoes through Hormuz. Iraq's oil exports via Hormuz jumped to about 2 million barrels a day this month, Nizar told Alahad TV this week.