Iraq Plans to Buy Oil Tankers to Boost Exports

Iraq is planning to purchase oil tankers to help increase its crude exports, according to Iraqi Oil Minister Bassem Khudair al-Abadi.

The minister said the authorities intend to acquire tankers of Iraq’s own, linking the planned purchases to the country’s goal of expanding oil shipments abroad.

The proposal focuses on the transport side of the export chain, with Iraq seeking its own vessels to carry oil to overseas markets.

No details were provided on the number of tankers under consideration, the cost of the purchases or a timetable for their acquisition. The minister also did not specify how much the plan could increase exports.