Iraq About to Invest in Large Tanker Fleet

Iraq has set sights on creating a large fleet of modern oil tankers to transport the country’s crude, Reuters reports quoting a statement from the country’s Oil Minister.

News ID: 72419

Date: 18 February 2017 - 12:21

According to MANA, The ministry wants to restructure the company’s mission to develop its operations by building and buying a large fleet of tankers to transport and market oil to all parts of the world,” Minister Jabar al-Luaibi‘s Friday statement reads.

The fleet of Iraqi Oil Tankers Company (IOTC) had comprised of 24 vessels, however; during the Gulf War much of it was destroyed by the US-led forced in 1991.