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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Abu Dhabi Ports signs an agreement with Iraq to store oil and transport it to the Gulf waters

rocky
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Abu Dhabi Ports signs an agreement with Iraq to store oil and transport it to the Gulf waters Empty Abu Dhabi Ports signs an agreement with Iraq to store oil and transport it to the Gulf waters

Post by rocky Wed 05 Oct 2022, 5:02 am

Abu Dhabi Ports signs an agreement with Iraq to store oil and transport it to the Gulf waters

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Economy News-Baghdad
Safeen Group, a subsidiary of Abu Dhabi Ports Group, signed an agreement with the Iraqi “Aman Baghdad” company to support a new project to transport and store fuel oil from the Khor Al Zubair and Umm Qasr stations in Iraq.
The project is a remarkable step within the efforts of the Safeen Group to expand its scope of specialized services to the oil and gas sector, and comes in the context of its expansion strategy in the Iraqi market.
Under the agreement, Sven Feders, a subsidiary of Sven Group, will manage the entire project, as it will provide three large crude oil tankers, and a fourth medium-range tanker for the purposes of implementing the agreement.
Sven Feders will work with the "Aman Baghdad" company to transport fuel oil from the stations located in each of Khor Al-Zubair and Umm Qasr port in southern Iraq to the Iraqi territorial waters using a medium-range tanker, after which it will be transferred to the huge tankers that will be used as floating fuel tanks. A monthly transportation capacity of 750,000 tons of fuel oil.
This agreement provides competitive prices for the Iraqi partners and enhances the flexibility of their business. It also guarantees appropriate rates of return on investment for the Sven Group, which will not incur any capital expenditures under this deal. The completion of this agreement supports a major project to transport and store fuel oil in Iraq.
Captain Ammar Al Shaiba, Acting Chief Executive Officer - Maritime Sector and Safeen Group - Abu Dhabi Ports Group, said: “The energy sector is one of the important growth markets for the Safeen Group, and the signed agreement, through which we contribute to this project, reflects our great capabilities and reliable expertise in this field. It also confirms the importance of our fleet and the advanced capabilities that it can provide to these operations.”
He added: “Saveen Group continues to make efforts, in line with the vision of our wise leadership, to expand its global presence and consolidate its position as a provider of major marine services to all companies around the world. This agreement also confirms our great ability to provide tailored solutions to meet the diverse needs of companies in the field of oil and gas and represents an important step to strengthen our presence in the Iraqi market.”
In turn, Fadi Fouad, CEO of Aman Baghdad, said: “We have chosen the Safeen Group to cooperate together on this project, based on the comprehensive range of marine services provided by the company in accordance with the highest international standards, in addition to the extensive experience of its cadres, which will handle Work on managing this project. After the fluctuations in the fuel oil market during 2022, we believe that the additional storage capabilities provided by this project will play a prominent role in supporting the competitive offers offered by Iraq.”
It should be noted that in addition to this new agreement, Sven Feders operates a weekly container shipping service that ensures that Iraq is connected to global markets. The company continues to work to explore more opportunities to support the growth and diversification of maritime trade in Iraq."


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Added 10/05/2022 - 11:48 AM
Update 10/05/2022 - 1:00 PM


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