Iraq’s oil shipments to Syria’s Baniyas port hit 150,000 bpd

A convoy of tanker trucks carrying Iraqi oil crossing from Iraq’s western province of Anbar into Syria. Photo: SANA Baghdad (IraqiNews.com) – Iraq is transporting between 120,000 and 150,000 barrels of crude oil per day by tanker trucks from its southern oil fields to the Syrian port of Baniyas on the Mediterranean Sea, according to Basim Abdul-Karim, head of the state-owned Basra Oil Company (BOC). The transport operations began on October 26, using a land route that had seen little use for decades. This move comes as Iraq seeks alternative outlets for its oil exports following disruptions to shipping through the Strait of Hormuz. Qatar-based UCC Holding is handling the transport of the crude under a deal with Iraq’s State Oil Marketing Organization (SOMO), according to Abdul-Karim. The daily volume transported depends on the number of tanker trucks available. UCC Holding has transported approximately 1.6 million barrels from the Tuba field depot near Basra since the agreement went into effect, with hundreds of trucks lining up at the facility to load crude oil before heading toward the Syrian border. Tanker trucks wait at the Syrian border until they can form a convoy of 100 to 150 vehicles each before continuing their journey to Baniyas, a round trip taking between four and five days. In Baniyas, the crude oil is loaded onto vessels and transported to refineries across the Mediterranean—including those in Greece, Italy, and Turkey. Reports indicate that the group plans to load between five million and 14 million barrels of heavy crude over a three-month period, at a discount of $38 per barrel. Under the agreement, the group receives $12 per barrel to cover the costs of trucking and transit across Syria.