Arab Petroleum Company raises the flag of Iraq

Arab Petroleum Company raises the flag of Iraq


Date of release: 2017/6/9


Oil Minister Jabbar Ali al-Allaibi said that the ministry will not have a losing company after the end of 2017 through the plans and programs developed by the ministry to develop the work of these companies, including the Iraqi oil tankers, which took place on Thursday, a partnership with the Arab Maritime Transport Company.
The minister said Al-Allaibi, according to a statement to the ministry that the contract will work to develop the work of Iraqi Tankers Company, and the contract will return Iraq to the ranks of the leading countries in the field of maritime transport of oil and gas and other products
Al-Allaibi said that the contract comes within the series of measures taken by the ministry to promote and develop national companies and raise them to the ranks of international companies in order to achieve the economic goals.
For his part, the commercial director of the Arab Maritime Oil Transport Company Yassin al-Sayyad said that the cooperation with the Iraqi tanker company through the contract of participation that was signed today will meet the Iraqi marketing activities and will work to develop and qualify Iraqi cadres. In addition, Oil market, sale and transportation of oil, petroleum products, liquid gas and future There will be operations to transport crude oil.
For his part, Director General of the Iraqi oil tanker Hussein Allawi, that the contract will provide flexibility for Iraqi exports and will strengthen Iraq's international status in the field of oil transport and we have plans to develop the work of the company through the purchase of two additional carriers, pointing out that Iraq currently owns 4 carriers working on the supply of tankers Fuel economy. "
He added that according to the contract, the Arab company will raise the Iraqi flag on the tankers, which will return Iraq in the field of maritime oil transport and the global market.
For his part, Undersecretary of the General Department of Legal Department Emad Al-Alak said that the contract was signed after obtaining the approval of the Council of Ministers and the ratio of Iraq 22.5% of the contract without payment of any amounts, and that the contract met all legal requirements.
For his part, Spokesman for the Ministry Asim Jihad said that the contract will secure the entry of Iraq once again to the field of marketing and maritime transport of oil and will open the field for the rehabilitation of Iraqi cadres where will be developed the performance of 700 Iraqi students on meals at the rate of 100 students in each training course.
Iraq is a founding member of the Arab Maritime Oil Transport Company and has part of its capital, and the Arab company is one of the Arab Organization of Petroleum Exporting Countries (OAPEC).
The agreement was signed to establish the Arab Maritime Oil Transport Company in May 1972, and the State of Kuwait was established.
The company's objectives are to carry out all shipping operations of hydrocarbons.
The participating countries are: United Arab Emirates, Kingdom of Bahrain, Republic of Algeria, Saudi Arabia, Republic of Iraq, State of Qatar, State of Kuwait, State of Libya and Arab Republic of Egypt.


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