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Economy News - Baghdad
Today, Thursday, Oil Minister Hayan Abdul-Ghani announced the inauguration of the new Sumer tanker with a capacity of 200,000 barrels, while noting that financial revenues estimated at more than 900 billion dollars would be achieved within 12 years.
The Minister of Oil said in a statement issued on the sidelines of his participation in the inauguration of the new tanker Sumer in the port of Khor Al-Zubair in Basra Governorate, and received by Al-Iqtisad News: “We are looking forward to developing the Iraqi Oil Tanker Company’s fleet, through contracts with reputable international companies to build modern tankers with different tonnages. It joins the company's tankers and gradually contributes to the process of increasing the transport of quantities of crude oil and petroleum products, in proportion to the size of the capabilities and expertise possessed by the Iraqi Oil Tanker Company, as well as keeping pace with the scale of development witnessed by the oil industry in Iraq.
He added, "The capacity of the tanker Sumer, which amounts to 200,000 barrels, was contracted alongside the tanker 'Akkad', with the same load, and it is hoped that it will arrive at the port during the coming period."
For his part, the Undersecretary of the Ministry of Oil for Distribution Affairs, Ali Maaraj, according to the statement, praised “the national effort and achievements made by the oil sector after 2003, and its contribution to increasing production and exports, and achieving financial revenues for the state treasury,” noting “the importance of licensing rounds that contributed to adding an amount of three million barrel for national production, achieving financial revenues exceeding more than 900 billion dollars.”
While the Director General of the Iraqi Oil Tanker Company, Ali Qais, confirmed, according to the statement, “the support of the Ministry and the Minister of Oil to build a new fleet for the Iraqi Oil Tanker Company by strengthening the company’s stock of oil tankers, which were damaged by the wars.”
He added, "In 2020, the Iraqi Oil Tanker Company concluded a contract with a Norwegian company to build two tankers with a capacity of 31,000 thousand tons each, namely Sumer and Akkad, in which the ministry and the company aim to strengthen the company's fleet in transporting crude oil and oil derivatives in addition to the activity of the current tankers, which are Baghdad and Shatt." Arabs, Tigris and Euphrates.
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