Iraq revives condensate flows after Hormuz closure
Shafaq News- Baghdad
Iraq on Tuesday resumed condensate exports after regional shipping disruptions forced a halt to loading operations, with Basra Gas Company exporting 50,000 cubic meters, or roughly 314,000 barrels, aboard the tanker Dakush.
In a statement, Deputy Minister for Gas Affairs Izzat Saber Ismail said the shipment was completed successfully and in line with approved technical and commercial standards following efforts to restore export operations.
Regional instability disrupted tanker movements and export operations across the Gulf after Iran closed the Strait of Hormuz during the conflict. The United States later imposed a naval blockade in the waterway, sharply reducing commercial shipping traffic through one of the world’s most critical energy corridors.
The Strait of Hormuz carries roughly 20 million barrels of oil per day, accounting for nearly one-fifth of global petroleum consumption. The International Energy Agency warned that disruptions in the waterway posed one of the most severe supply shocks to hit global energy markets in decades.
Read more: Iraq's oil lifeline is blocked: Here is why the crisis runs deeper than Hormuz
Oil revenues account for more than 90% of Iraq’s state income, with most exports shipped through southern terminals near Basra. Ismail expressed hope that tanker loading and export flows would continue normally in the coming days, helping stabilize export operations and fulfill contractual obligations.
Read more: Iraq’s oil bottleneck: Abundance trapped by dependency
