By Yaqoub Yousif Al-Khudhur, for the Al-Bayan Center for Planning and Studies. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Restructuring and Change of Ownership as a Prerequisite for Expanding the Iraqi Oil Tankers Company: An Analytical Feasibility Study Since Iran began closing the […]
By John Lee. Iraq's Oil Minister, Hayan Abdul Ghani, has participated in the inauguration of the new oil tanker "Sumer" at Khor al-Zubair port in Basra. Abdul Ghani stressed the ministry's keenness to build a new oil tanker fleet through contracts with reputable international companies to build modern tankers of different capacities. The "Sumer" tanker […]
By John Lee. The Iraqi Ministry of Oil has announced the delivery of a new oil tanker named "Sumer." The Director-General of the Iraqi Oil Tankers Company (IOTC) emphasized the ministry's commitment to expanding the national fleet through new contracts with global specialized firms. Mr. Ali Qais said the technical team and the designated committee […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani, has announced the restart of production, loading, and export operations from the Qayyarah oil field in Nineveh Governorate. The field has a capacity of 33,000 barrels per day (bpd). Tankers and rail will be used for transportation. Around 30,000 bpd will be exported to the ports […]
By John Lee. The Iraqi Oil Tankers Company (IOTC) has confirmed that it plans to increase the size of its fleet. The company's general manager, Ahmed Khazal, told the Iraqi News Agency (INA), that it will both build and buy new tankers. IOTC currently owns four tankers. (Source: INA)
By John Lee. Iraq Business News Expert Blogger, Ahmed Mousa Jiyad, has demanded an investigation into Iraq's reported contract to buy tankers from a Norwegian company. The Ministry of Oil announced on 18th August that the Iraqi Oil Tankers Company (IOTC) had concluded a contract with Norway's Batservice Mandal [Båtservice Mandal AS] to build two […]
By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has transferred ownership of nine state-owned oil companies from the Ministry of Oil to the newly-created Iraqi National Oil Company (INOC). The Minister is also the President of INOC. The companies transferred to INOC ownership are: Iraqi Oil Exploration Company Iraqi Drilling Company (IDC) State […]
By John Lee. Iraq's Ministry of Oil has made its first direct shipment of crude oil since 1991. The two-million barrel shipment was made via its subsidiary company, the Iraqi Oil Tankers Company (IOTC). It will be delivered to a US-based customer of the State Oil Marketing Organization (SOMO). (Source: Ministry of Oil)
Following from the recent launch of its new Iraq-based bunkering operation, Al Iraqia Shipping Services and Oil Trading (AISSOT) has announced its first shipment of crude oil from Iraq. The company said it shipped its first 2 million bbl of crude oil on their very large crude carrier MT Basra (pictured) on November 18, "successfully […]
By John Lee. Al-Iraqia Shipping Services & Oil Trading (AISSOT) has announced it will start bunkering operations at several Iraqi ports, with a focus on Basra, Khor Al-Zubair and Umm Qasr. According to a report from Ship and Bunker, the company -- a joint-venture company of Iraqi Oil Tankers Company (IOTC) and Arab Maritime Petroleum […]
The state-owned Iraqi Oil Tankers Company (IOTC) has announced a tender for the purchase of two tankers; a" handy size" 20,000-25,000 DWT and VLCC tanker of 180,000-240,000 DWT: (Source: Ministry of Oil)
By John Lee. Reuters quotes Oil Minister Jabar Ali al-Luaibi [Allibi] as saying that Iraq plans to acquire a "large fleet" of oil tankers. Having owned as many as 24 tankers in the 1980s, the state-owned Iraqi Oil Tankers Company's fleet was largely destroyed in the Iraq War in 1991. (Source: Reuters) (Picture credit: Tasnim, […]
