The Iraqi government has approved new measures to support oil marketing, storage, and domestic fuel supply, including expanded operational flexibility for key state entities.
Under the decision, Iraqi Oil Tankers Company (IOTC) has been authorised to lease available tankers in the Gulf region for use in storage or other purposes aimed at extending refinery operations when sales are constrained.
The Council also approved:
- Authorisation for overland transport of crude oil from Khor Al-Zubair to northern hubs in Kirkuk province
- Exemption of the State Oil Marketing Organization (SOMO) from standard government contracting procedures
- Permission for SOMO to directly award and execute contracts to ensure fuel supply to industrial facilities and strengthen strategic reserves
The measures are intended to maintain refinery throughput, secure fuel availability for domestic industries, and enhance Iraq’s strategic stockpiles under current market conditions.
