Iraq needs to buy tankers to boost oil exports: minister

Iraq needs to intensify plans to buy oil tankers to boost crude exports and increase the country’s revenues, Oil Minister Bassim Khudair has said.

Earlier this month, Khudair said the ministry was considering buying 10 supertankers at an estimated cost of $2 billion, with financing options under review.

The minister said Iraq had achieved strong export results in September and October, with rates comparable to those recorded before the Hormuz crisis.

He reported that crude exports had exceeded 3.4 million barrels per day (bpd) in October through the Strait of Hormuz, Turkiye’s Ceyhan port, and tanker trucks via Syria.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →