Parliamentary Oil Committee: Iraq’s ownership of crude oil tankers will spare us the Hormuz crisis and save millions of dollars.
Parliamentary Oil Committee: Iraq’s ownership of crude oil tankers will spare us the Hormuz crisis and save millions of dollars.
2026-10-25
Shafaq News – Baghdad
On Sunday, Jassim al-Moussawi, a member of the parliamentary oil committee, confirmed that this would help Iraq overcome the crisis of the closure of the Strait of Hormuz and save the treasury millions of dollars.
Al-Moussawi told Shafaq News Agency that the parliamentary oil committee will meet on Monday with the oil minister to discuss the decisions issued by the ministry’s advisory board, including the move to purchase oil tankers.
He added: “Instead of relying on foreign companies and countries to transport crude oil or its derivatives, Iraq should own its own tankers, especially after the costs of maritime transport rose to nearly half the value of exported oil due to the Strait of Hormuz crisis.”
Al-Moussawi continued: ” We want real measures to purchase tankers, not just words on paper. Iraq should have the largest transport fleet in the region,” noting that there is a move towards international foreign companies to supply Iraq with three to five oil tankers.
He concluded by saying that Iraq can, within a short period, import the tankers, pay the amount allocated for the purchase contract, and provide financial revenues to the state treasury amounting to millions of dollars.
Oil Minister Bassem Mohammed al-Abadi stressed on Saturday the need to expedite the procedures for purchasing oil tankers for Iraq.
Al-Abadi said, during his chairmanship of the Ministry’s Advisory Board meeting, that there is a need to purchase oil tankers, given the significant impact this issue has on supporting Iraqi oil exports and generating revenues to support the state budget, according to a statement issued by the Ministry and received by Shafaq News Agency.
He pointed out that the ministry has two important goals at the present time and in light of the Strait of Hormuz crisis. The first is the issue of oil exports, stressing that the ministry has achieved remarkable success in the past month and this month, at rates equivalent to the previous rates before the crisis.
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