Iran-Israel war: Iraq urges customers to send oil loading plans after Hormuz exemption, document shows

SINGAPORE: Iraq's state oil marketer SOMO has asked its customers to submit crude oil lifting schedules within 24 hours, a document reviewed by Reuters showed, following media 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 to enable ​the timely processing of your ⁠lifting programs, ‌including vessel nominations and the contractual volumes, ​in ​full alignment with the agreed terms and ⁠conditions," SOMO said in the document issued on ​April 5.

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"We hereby reaffirm that all loading terminals, including the Basrah Oil Terminal (BOT) and associated facilities, remain fully operational, and SOMO is in a state of full readiness to execute all contractual lifting programs without any limitation," the document ‌said.

SOMO could not be immediately reached for comment outside of office hours.

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A resumption of ​oil exports ​will help ⁠the OPEC member lift production as its output collapsed to about 800,000 barrels per day last month.

However, some market ​participants said it remains to be seen if any shipowners will allow their tankers to enter the Gulf to lift oil given that the U.S.-Israeli war with Iran is ongoing.