Saudi Energy Ministry Responds to Iraqi Claims of Purchasing 25 Oil Tankers

The Saudi Ministry of Energy has denied allegations raised in the Iraqi Parliament regarding the Kingdom’s purchase of 25 oil tankers, and its alleged link to the rise in costs for transporting Iraqi oil.

This came in an official statement from the ministry, commenting on remarks made by Iraqi Oil Minister Basim Mohammed Khudhair Al-Abadi and the chairman of the board of directors of SOMO (State Organization for Marketing of Oil), Engineer Ali Nizar Al-Shatri, during a parliamentary session.

The ministry clarified that information circulating about the purchase of tankers is “completely incorrect,” noting that the sharp increase in the cost of transporting Iraqi oil is due to purely regional factors, the most prominent of which are: military escalation in the region, Iran’s declared attacks on ships, and disruptions in navigation through the Strait of Hormuz.

The statement added that these factors have led to an exceptional rise in shipping risks and insurance costs, as well as a decline in the number of tankers ready to operate in the region, emphasizing that “attributing the increase in Iraqi oil transportation costs to the Kingdom does not reflect the actual reasons behind this rise.”

In conclusion, the Ministry of Energy stressed that this clarification “does not in any way diminish the Kingdom’s full right to make any commercial and investment decisions it deems appropriate, in accordance with its needs and national interests.”