Ben Morrow assembles fleet to transport Iraqi oil to India, China
by@FT
Summary
Ben Morrow, a Dallas oil trader, is assembling a fleet of older ships capable of transporting up to 2 million barrels of crude oil each, aimed at delivering Iraqi oil to refineries in India and China. This initiative comes as Chinese independent refiners are increasingly turning to Iraqi crude to compensate for disruptions in Iranian exports. Additionally, Iraq is actively expanding its crude export routes, seeking alternatives to the traditional Strait of Hormuz and exploring options in the Mediterranean.
Analysis
Ben Morrow: Ben Morrow is a Dallas-based oil trader specializing in crude oil logistics and transportation. In this development, he is organizing a fleet of older vessels to move Iraqi crude to refineries in India and China. Asian Demand: Chinese independent refiners are increasingly sourcing Iraqi crude to replace supplies affected by disruptions in Iranian exports. Export Routes: Iraq is expanding its crude export options beyond the Strait of Hormuz and exploring alternative Mediterranean pathways.
Categories
macropolitics
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