Gulf Oil: QatarEnergy Shifts to Transfers Outside of Hormuz to Secure Exports

Wednesday 26 August 2026 - 15:01

QatarEnergy is adapting its commercial strategy in response to the deteriorating navigation conditions in the Strait of Hormuz. The Qatari energy group launched a new tender this week to sell al-Shaheen and Qatar Marine crude with ship-to-ship (STS) transfers conducted outside the strait, according to three trade sources and a document reviewed by Reuters.

The shipments are scheduled for delivery during the first half of October. Bids were to be submitted by Wednesday noon, Doha time. This initiative primarily illustrates the Gulf producers' willingness to maintain their exports while limiting shipowners' exposure to transit through one of the main tension points in global energy trade.

A New Route for Qatari Crude

This arrangement marks an evolution from a previous QatarEnergy tender, which offered al-Shaheen, Qatar Marine, and Qatar Land crude on a free-on-board basis in Qatari ports for September and October shipments. However, this scheme involved routing vessels through the Strait of Hormuz, a prospect that has become particularly delicate for shipping companies.

According to sources cited by Reuters, the previous tender was ultimately not awarded, as buyers and shipowners remained hesitant to send their vessels into the strait. QatarEnergy is now turning to a logistical organization that allows for the transfer of oil to other vessels outside this sensitive area.

This method is not entirely new in the region. Abu Dhabi National Oil Company (ADNOC) has already increased its tenders using shuttle vessel operations to move crude to ships located in the Gulf of Oman. Saudi Aramco has also offered shipments with operations conducted outside the strait.

The Iranian Blacklist Complicates STS Operations

The Qatari decision comes just days after a new escalation of pressure from Iran on maritime transport. Iranian authorities published a list of 45 vessels they accuse of violating their transit rules in the Strait of Hormuz.

Tehran threatens the listed vessels with sanctions that could include fines, detention, or cargo confiscation. Importantly, the warning is not limited to the listed vessels: ships that conduct transfer operations, transshipment, or other interactions with them could also be added to the blacklist.

This threat creates a new source of uncertainty for shipowners, charterers, insurers, and oil companies. The risk is no longer solely related to physically crossing the strait, but also to the partners chosen to carry out logistical operations outside of it.

Refiners Tighten Their Controls

Several market players are already beginning to revise their procedures. At least three Indian refiners and a major international energy group are considering avoiding vessels on the Iranian list, including in the context of ship-to-ship cargo transfer operations.

This caution could quickly alter market practices. Companies are particularly seeking to avoid having a chartered vessel transporting cargo from the Middle East being directly or indirectly associated with a vessel deemed "non-compliant" by Iranian authorities.

For operators, the calculations are becoming more complex: bypassing the strait may reduce exposure to transit risk, but STS operations conducted in the Gulf of Oman must now also undergo thorough verification of the vessels involved.

A Maritime Market Under Pressure

The slowdown in traffic confirms the extent of the difficulties. According to preliminary data from Kpler cited by Reuters, only five vessels carrying cargo crossed the Strait of Hormuz on Tuesday, compared to an average of 15 crossings in the previous ten days. However, the figures may evolve, particularly when some vessels deactivate their automatic identification systems.

In this context, at-sea transfer operations are becoming a tool for producers to preserve part of their trade flows. However, they are not a risk-free solution. They require more coordination, a rigorous selection of vessels, and enhanced management of insurance, compliance, and security issues.

Commercial risk analyst Ana Subasic from Kpler believes that flows should not necessarily disappear: they may instead be redirected to other vessels, other counterparties, or other transfer zones.

A Strategic Signal for Energy Markets

Beyond the Qatari case, the evolution of practices reveals a broader transformation in oil trading in the Gulf. Producers are increasingly seeking to dissociate crude loading from direct transit through the Strait of Hormuz, while buyers attempt to reduce their exposure to geopolitical and regulatory risks.

This reorganization comes as Iran and Oman are simultaneously discussing the establishment of a temporary navigation corridor and measures aimed at gradually securing passage through the strait. The negotiations remain fragile, but they highlight the strategic importance of this maritime route for producers, importers, and shipping companies.

For QatarEnergy, turning to transfers outside of Hormuz appears to be a pragmatic measure aimed at preserving sales continuity. For shipowners, it reflects a new reality: in the current context, the question is no longer just where the oil passes, but also with which vessels, under what procedures, and with what legal and security risks.