Iraq: buyers responsible for oil tankers after leaving ports

Iraq’s Oil Ministry has confirmed that crude oil exports are proceeding according to established procedures, with tankers carrying Iraqi crude continuing to transit the Strait of Hormuz. The ministry clarified that responsibility for the shipments transfers to buyers once they leave Iraqi ports.

Oil Ministry spokesperson Salim Al-Rikabi said the ministry follows a "free on board" (FOB) mechanism for crude sales, meaning its responsibility ends upon delivery at the port, after which the buyer is responsible for transporting and managing the shipment.

Al-Rikabi told the Iraqi News Agency (INA) that the passage of tankers through the Strait of Hormuz after loading is a routine part of the shipping process, stressing that the ministry bears no responsibility for the tankers’ routes or for obtaining the necessary approvals for their navigation.

He added that the Oil Ministry does not own the tankers transporting Iraqi crude and is not involved in their movements after they leave port, noting that the operation and management of the voyages are entirely the responsibility of the purchasing parties.

The spokesperson also pointed out that some tankers carry large shipments, sometimes up to two million barrels of crude oil, as part of regular export operations.