SOMO says Iraq targeting 900,000 barrels per day through diversified export routes

BAGHDAD — Iraq’s state oil marketer SOMO said Wednesday it is implementing a plan to export up to 900,000 barrels per day through diversified routes in cooperation with international companies, as the country works to sustain crude flows after regional conflict disrupted its main southern export corridor.

SOMO Director General Ali Nizar said Iraq holds contracts “ranging between 850,000 to 900,000 barrels per day with European and American companies,” and that expanding export routes would help sustain supply. “Moving toward multiple export outlets will diversify export sources and facilitate the arrival of Iraqi oil to global markets,” he said.

The strategy includes alternative routes through Turkey, Syria and Jordan. Nizar confirmed that Kirkuk crude began flowing to Turkey’s Ceyhan port at around 6:30 a.m. Wednesday, with volumes expected to reach 250,000 barrels per day — the first exports through the northern route since the standoff between Baghdad and Erbil was resolved Tuesday evening. Exports of refined products through Syria and Jordan will be handled by tanker trucks from loading sites and refineries, in the absence of pipeline infrastructure to either destination.

The plan reflects contingency measures prepared in advance by the Oil Ministry in response to the regional escalation. Southern terminals near Basra, which normally handle around 90 percent of Iraq’s government revenue, have been severely disrupted since regional conflict slowed tanker traffic through the Strait of Hormuz following U.S. and Israeli strikes on Iran Feb. 28. Oil prices have risen above $100 per barrel since, increasing the urgency of restoring and diversifying export capacity.