- Sputnik International
World
Get the latest news from around the world, live coverage, off-beat stories, features and analysis.

Iraqi Oil Minister Plans to Rebuild Country's Tanker Fleet - Oil Tankers Company

© REUTERS / Essam Al-SudaniA worker walks at Nahr Bin Umar oil field, north of Basra, Iraq December 21, 2015
A worker walks at Nahr Bin Umar oil field, north of Basra, Iraq December 21, 2015 - Sputnik International
Subscribe
Iraqi Oil Minister plans to create an oil tanker fleet in order to help the country access global markets, the state-owned Iraqi Oil Tankers Company (IOTC) said Friday.

Oil - Sputnik International
Iraq Begins to Cut Oil Production in Line With OPEC Deal
MOSCOW (Sputnik) — Iraqi Oil Minister Jabar Luaibi has unveiled plans to create an oil tanker fleet to help the country access global markets, the state-owned Iraqi Oil Tankers Company (IOTC) said Friday.

"[Luaibi] said that the [oil] ministry wants to restructure the company’s mission to develop its work through building and owning a large and modern fleet of oil tankers that perform the operation of transporting and marketing of oil to all parts of the world," the IOTC said in a statement.

The minister had issued orders for the company to reach global standards of ocean crude transportation as well as training the staff needed for the task, according to the statement.

IOTC was founded in 1972 to aid the development of Iraq's burgeoning oil industry. The size of its fleet reached some two dozen vessels within less than a decade. The Organization of the Petroleum Exporting Countries (OPEC) nation lost its tanker fleet during the Gulf War during which it was attacked by US forces in response to Iraq's invasion of Kuwait.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала