Iraq urges customers to send oil loading plans after Hormuz exemption, document shows

A document seen by Reuters shows that Iraq has asked customers to submit crude oil lifting schedules within 24 hours

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 Apr 5.

"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.

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 US-Israeli war with Iran is ongoing.