Iraq resumes southern oil exports after month-long halt due to Hormuz disruption

A critical tanker begins loading, signaling a tentative restart for Iraq's vital southern oil exports after a prolonged shutdown tied to regional tensions. | Contesto: cronaca

Punti chiave

• Iraq resumes southern oil exports after month-long halt due to Hormuz disruption

Contesto

Iraq resumed crude oil exports from its southern terminals on Friday, ending a shutdown that lasted more than a month after disruptions to shipping through the Strait of Hormuz. The Malta-flagged tanker Agios Fanourios I anchored offshore and began loading approximately two million barrels of Basra crude, according to four independent energy sources and Iraqi port officials. The vessel's arrival marks a cautious restart for a flow of oil critical to Iraq's economy and global energy markets. The Agios Fanourios I's journey to the loading point was fraught with difficulty, underscoring the persistent volatility in the region. Shipping data indicates the tanker made a second, successful attempt to transit the Strait of Hormuz on Wednesday, after being turned back with several other vessels during an initial try on Sunday. That earlier attempt coincided with a reported ceasefire between U.S. and Iranian forces, highlighting how geopolitical flashpoints directly imperil the world's most important oil chokepoint. The resumption of loadings, while significant, remains in its earliest and most fragile stage. The Agios Fanourios I is destined for the Nghi Son refinery in Vietnam, according to shipping data and trade sources, representing a restart of long-haul shipments from the region. In a further sign of rebuilding export activity, two oil terminal officials stated that a second tanker is expected to arrive at the southern Iraqi export facilities within the next 48 hours. The month-long halt of exports from southern Iraq, which accounts for the vast majority of the country's oil output, stemmed from effective blockades and security incidents within the Strait of Hormuz. The narrow waterway, bordered by Iran and Oman, is the conduit for about one-fifth of the world's seaborne oil. Any prolonged closure risks spiking global oil prices and straining the economies of producer nations like Iraq, which is heavily dependent on hydrocarbon revenues to fund its government. The outlook for Iraq's oil trade, and for the security of Gulf shipping lanes, remains clouded. The loading of a single tanker, followed by another, does not equate to a full return to normal export...

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Categoria: cronaca