Iraq started Oil Shipment operation by Sea after 27 Years

The Iraqi Ministry of Oil has announced the beginning of loading an oil shipment. It will be exported for the first time after 27 years using its marine carriers. The general manager of the Iraqi Tanker Company of the Iraqi Oil Ministry, Hussein Allawi issued a statement that the company has been planning to establish an integrated fleet of huge oil tankers. He added that recent move took place to restore the crude oil transporting activity and other oil products to entire parts of the world. Allawi pointed out that the company has resolved a number of cooperation agreements with the OAPEC (Arab Shipping Company). This move has been considered a major step to the gradual enhancement of this sector. This sector has experienced ceasing activity since 1991. It was also said that transportation, joint cooperation, training, and the development of national infrastructure were also disturbed badly.

Oil Shipment after 27 years

The spokesman for the Iraqi Ministry of Oil, Assem Jihad also explained that the oil tanker company will carry the first cargo load shipment of two million barrels in order to transport it to the United States. This shipment will be in favor of a contracting company with the Sumo (state-owned oil marketing company). In the early 1990s, the company stopped transportation crude oil. It was the time when sanctions were imposed on the country after the invasion of Iraq on Kuwait. The disturbance and disorder of Iraqi seaports for various years have destroyed the Iraqi ports. Point to be noted that some of them have been changed into inoperative scrap for going in again. Now, Iraq is restoring its fleet of marine carriers and empowering & developing the infrastructure of the oil sector. The country is also enhancing its work to increase its crude oil production. It is important that Iraq is the second largest oil producer in OPEC after Saudi Arabia and producing at least 4.5 million barrels oil per day.

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