Kharg Terminal Export Capacity Expanding

Kharg Terminal Export Capacity Expanding
Kharg Terminal Export Capacity Expanding

Iran Oil Terminals Company (IOTC) on April 15 set a record high of seven million barrels in oil exports, said IOTC's managing director, Shana news agency reported.

Eight decks at Kharg Terminal were simultaneously involved on April 15, making it possible to export more than seven million barrels of oil for the first time in 10 years, Pirouz Mousavi said, noting that the amount is within the Organization of the Petroleum Exporting Countries (OPEC)'s quota.

Prior to this, the IOTC has had a record high of six million barrels per day. In the past ten years the IOTC was incapable of exporting such volume due to dilapidated equipment at the terminals besides lack of required infrastructure.

The capacity to export oil and petroleum products has risen following renovation and overhaul of oil terminal facilities in the Kharg Island in the Persian Gulf.  The overhaul of 15 marine loading arms in the island by the IOTC has increased oil loading rate by 70,000 barrels per hour.  The overhaul was completed with an estimated $1.9 budget over the past year.

Iran's oil tanker fleet is among modern fleets in the world. The country's oil tankers are on average eight years old, being capable of carrying an estimated 120 million tons of oil per year.