Iraq's oil minister says Baghdad has held talks with Iran on smooth tanker passage through the Strait of Hormuz
Aug 3, 2026
Iraqi Oil Minister Bassem Mohammed Khudair said on Monday, August 3, 2026, that an Iraqi delegation has held talks and negotiations with the Iranian side on smooth passage for Iraqi tankers through the Strait of Hormuz. He voiced hope that major understandings on protecting and facilitating the passage of cargo ships and tankers would be reached in the coming days, and said the Iraqi government's approach is to build ties, partnership and joint investment with all neighbouring countries.
Iraqi government spokesman Haider al-Aboudi had earlier said that the exemption of Iraqi tankers from the passage ban in the Strait of Hormuz had not been implemented in practice.
Iraq is among the largest oil exporters in the Persian Gulf and most of its exports pass through the strait, so any understanding on tanker traffic feeds directly into regional oil supply and the world market.
Media
The Strait of Hormuz shipping lane, the main export route for Persian Gulf oil
Archive photo · Source: Mehr News
Source
اقتصاد آنلاین
Related news
CNG use in South Khorasan saved more than 12 million litres of petrol in spring 1405
Mohammadreza Abedani, head of the National Iranian Oil Products Distribution Company in the South Khorasan region, said in a report published by the oil ministry news service Shana on Monday 3 August 2026 (12 Mordad 1405) that more than 12 million cubic metres of CNG were delivered to dual fuel vehicles through the province's filling stations in the first three months of the current Iranian year. He said that level of consumption produced savings of more than 12 million litres of petrol. Abedani described wider CNG use as one of the ways to reduce dependence on petrol, and said raising the fuel's share of the consumption basket lowers petrol use, fuel costs and pollutant emissions. He also said regional specialists carry out periodic inspections of equipment performance, service quality and compliance with safety requirements at filling stations. Iran's petrol shortfall is a live issue in the country's energy economy, and CNG substitution is being pursued as one demand management tool within the national fuel basket. The figures in this report cover South Khorasan province only.
شانا (پایگاه اطلاعرسانی وزارت نفت) · Aug 4, 2026
Iran's deputy oil minister says airports and power plants have been reconnected to fuel transfer lines
Mohammad Sadegh Azimifar, Iran's deputy oil minister for refining and distribution and managing director of the National Iranian Oil Refining and Distribution Company, reported on progress in rebuilding damaged oil facilities during a site visit on Monday 3 August 2026 (12 Mordad 1405). The report was published by the oil ministry news service Shana, citing the company. He said the most significant work completed includes reconnecting airports and power plants to fuel transfer lines, bringing a pumping station at an oil depot back into service, repairing damaged storage tanks, and measures enabling rail and road loading. He also pointed to work on firefighting, pipeline optimisation and fuel distribution through back up routes. Azimifar noted the challenges still facing the rebuild, called for cooperation from all stakeholders, and said subsidiary companies are pursuing the project around the clock, particularly in view of fuel supply to northern regions during the cold season. The report gives no numerical progress figure and no completion date.
شانا (پایگاه اطلاعرسانی وزارت نفت) · Aug 4, 2026
Financial and derivatives turnover on Iran's commodity exchange reaches 11.3 trillion tomans
According to the Iran capital market news agency SENA, 1,770,000,000 contracts worth 11,300 billion tomans, or 11.3 trillion tomans, were concluded on the financial and derivatives market of the Iran Mercantile Exchange on Sunday 2 August 2026 (11 Mordad 1405). The exchange's derivatives market covers options and futures contracts on underlying assets such as gold funds, silver bullion and saffron. These instruments let a trader hedge price risk or take a position on price direction without taking physical delivery of the commodity. The growth in this market's value in recent months has come alongside the expansion of gold and silver commodity funds, and the exchange has increased the number of live options contracts written on those funds.
پایگاه خبری بازار سرمایه ایران (سنا) · Aug 4, 2026
Iran Energy Exchange chief says price discovery on all three power boards runs on market mechanisms
Mohammad Nazifi, chief executive of the Iran Energy Exchange, said in an interview published by the Iran capital market news agency SENA on Monday 3 August 2026 (12 Mordad 1405) that price discovery on all three of the exchange's electricity boards is carried out through market mechanisms. He said that although the bulk of the Iran Energy Exchange's turnover still comes from the hydrocarbon market, the energy ministry has built valuable experience in regulation and rule setting, and the power industry is on a gradual transition toward a competitive economy. Nazifi listed greater competitiveness, better market access for generators, improved transparency, economic price discovery and greater discipline in financial flows as the main achievements of expanding electricity trading on the exchange. Electricity trading on the exchange is growing at a time when the summer power shortfall and consumption limits on industry are live issues in Iran's economy.
پایگاه خبری بازار سرمایه ایران (سنا) · Aug 3, 2026