Iran's crude oil storage capacity to hit 10 million barrels

EghtesadOnline: Managing Director of Iranian Oil Terminals Company (IOTC) Pirouz Mousavi said on Saturday that the country crude oil storage capacity would be increased to 10 million barrels in near future.

News ID: ۷۳۶۵۱۳

03 September 2016

According to ISNA, Mousavi underscored that once Genaveh new oil storage becomes operational by the end of the Iranian month of Shahrivar (Sept 21), the country crude oil storage capacity would hit 10 million barrels.

He also put the crude oil storage capacity in Kharg Island in the Persian Gulf at 28 million barrels, adding an increase in crude oil storage capacity will foster the country's bargaining power for selling oil.

Mousavi also reiterated that construction of new crude oil storage tanks in Genaveh was aimed at safeguarding the country's oil export in the Persian Gulf region, IRNA reported.

He added that the Ministry of Petroleum has put construction of new crude oil storage tanks in the port city of Jask in the southern province of Hormozgan.