Energy
0

Jask Oil Terminal to Bloster Iran's Export Capacity

Jask Oil Terminal will have the capacity to store up to 30 million barrels and export 1 million barrels per day of crude oil
Kharg Oil Terminal in Persian Gulf is responsible for over 90% of Iranian oil exports.Kharg Oil Terminal in Persian Gulf is responsible for over 90% of Iranian oil exports.
Development of Jask Oil Terminal could ease the load of tanker traffic at Kharg Oil Terminal off the Persian Gulf coast

Transforming the port of Jask in the southern Hormozgan Province into a major oil terminal is a strategic step to expand Iran's oil export capacity, the chief executive officer of Iran's Petroleum Engineering and Development Company said.
"Once fully developed, Jask Oil Terminal will have the capacity to store up to 30 million barrels and export 1 million barrels per day of crude oil," Noureddine Shahnazi-Zadeh was also quoted as saying by Shana on Monday.
The terminal is part of a development plan to diversify the Iranian oil export hubs. The project, estimated to cost upwards of $2 billion, is expected to be completed by 2021.
According to the official, it could ease the load of tanker traffic at Kharg Oil Terminal off the Persian Gulf coast that is responsible for more than 90% of Iranian oil exports.

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com