Oil & Gas

Iraq to acquire “large fleet” of tankers for OPEC transport

Iraq oil news

Iraq is planing to acquire a “large fleet” of tankers in a bid to transport OPEC crude to global markets.

Oil Minister Jabar al-Luaibi is reported to have told the state-run Iraqi Oil Tankers Company about the plan.

The country’s tanker fleet was largely destroyed as part of the first Gulf War in the early 1990s.

Luaibi said: “The ministry is keen to restructure the company and develop its operations by building and buying a large fleet of tankers.”

Iraq is OPEC’s second-largest producer, after Saudi Arabia.

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