Saudi Arabia denies buying 25 oil tankers, rejects link to Iraqi shipping costs
RIYADH — Saudi Arabia has denied claims that it purchased 25 oil tankers and rejected suggestions that the alleged purchases contributed to higher costs for transporting Iraqi oil.The Ministry of Energy issued the clarification in response to remarks by Iraqi Oil Minister Bassem Mohammed Khudair Al-Abadi and Ali Nizar Al-Shatari, chairman and director general of Iraq’s State Organization for…
RIYADH — Saudi Arabia has rejected allegations that it acquired 25 oil tankers, and has also dismissed the notion that this purchase contributed to the rising costs of transporting Iraqi oil. The Ministry of Energy issued a statement on Tuesday, clarifying that the Kingdom had not indeed made such purchases, describing the claims as inaccurate. The ministry emphasized that its decision to make commercial and investment moves was entirely within its rights, influenced by its own needs and interests.
The ministry firmly stated that the sharp rise in oil transportation costs was not the result of the alleged tanker purchases, but rather due to a variety of separate factors. These included the escalation of military tensions in the region, Iranian attacks on ships, and disruptions in shipping through the Strait of Hormuz. These events have led to heightened risks in shipping and increased insurance costs, while simultaneously reducing the number of vessels willing to operate in the area.
Consequently, the ministry reported that these conditions have driven freight costs to unprecedented levels.
The ministry firmly clarified that suggesting the rise in Iraqi oil transportation costs was directly linked to Saudi Arabia's tanker acquisitions did not mirror the true reasons for the cost surge.
Written by urgent.news from Saudi Gazette's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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