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Iraq begins exporting oil by sea after 27 years of suspension

Iraq begins exporting oil by sea after 27 years of suspension
The Iraqi Oil Ministry announced on Wednesday to start loading an oil shipment that will be exported through its marine carriers for the first time in 27 years.
“The company is planning to build an integrated fleet of gianttankers,” said Hussein Allawi, general manager of the Iraqi Tanker Company of the Ministry of Oil, in a statement. “The move comes to restore the activity of transporting crude and oil derivatives to all parts of the world,” he said. “He said.
He pointed out that “the company has concluded a number of cooperation agreements with the Arab Shipping Company [OAPEC], in a step to the gradual construction of this sector, which has ceased its activity since 1991, including transport and joint cooperation, and the preparation and training of national cadres,
For his part, spokesman for the Ministry of Oil Assem Jihad, explained that “the cargo load of two million barrels, and the tanker company to load and transport to the United States, in favor of a company contracting with the state-owned oil marketing company [Sumo].”
The company stopped transporting crude in the early 1990s, when the embargo was imposed on the country following Iraq’s invasion of Kuwait.
The disruption of Iraqi seaports for many years at the ports has eroded them, and some of them have been turned into invalid scrap for re-entry.
Iraq is reviving its fleet of marine carriers, as well as developing oil sector infrastructure, in parallel with its work to increase crude production.
Iraq is OPEC’s second largest oil producer after Saudi Arabia, producing about 4.5 million bpd.
Source: alliraqnews