Baghdad:Iraq has ended speculation about its plans to store crude oil in foreign countries, clarifying that no agreements have been finalized with any nation or company regarding such arrangements. Despite numerous offers and discussions over recent months, no definitive contracts have been established.

According to National Iraqi News Agency, Salim Al-Rikabi, spokesperson for the Iraqi Ministry of Oil, stated that the concept of offshore storage is still under consideration. He emphasized that Baghdad has not concluded any final agreements on this matter, despite receiving proposals from multiple companies, including those in the Sultanate of Oman and Singapore.

Al-Rikabi further explained that these proposals have not yet resulted in formal implementation agreements, as Iraq continues to explore its options. Additionally, he denied that Iraqi crude oil is being exported through Syria or Jordan, noting that exports via these countries are limited to fuel oil.

The spokesperson reiterated that Iraq has not reached any storage agreements with other countries or companies, and the issue remains in the study phase. He responded to inquiries about potential agreements with Singapore by confirming that no agreements have been made, and the matter is still under review.

These developments follow previous discussions by the Iraqi State Oil Marketing Organization (SOMO) with international entities to explore storing crude oil abroad, which would offer new marketing and global market access opportunities. Despite earlier received proposals, including those from Oman and Singapore, no final contracts have been concluded, and negotiations continue without binding agreements.