Iran preparing Kharg oil terminal for more exports
Tehran, Iran, June 26
By A. Shirazi - Trend:
Iran is preparing its biggest oil export terminal on the Kharg Island for stepped-up shipments of crude within the next two years, the managing director of Iran Oil Terminals Company said.
“Kharg oil terminal’s infrastructural capacities will be improved in the next two years to receive, store and export more 700,000 barrels of West Karoun oil per day”, Seyed Pirouz Mousavi said on June 26, Mehr news agency reported.
Close to 800 million barrels of oil were exported from Iran’s largest oil loading and export facility, the Kharg Oil Terminal, in the previous fiscal that ended on March 20, 2018.
There is a storage capacity for 30 million barrels of oil on the Kharg Island, giving it more flexibility for exports, according to some reports. The island lies near the Strait of Hormuz where a fifth of global oil exports passes.
Mousavi further said the Iranian Bahregan oil field in the Persian Gulf is currently exporting the West Karoun crude.
The Persian Gulf nation’s exports hit 2.7 million barrels per day (bpd) oil in May, a new record since the lifting of anti-Tehran sanctions on Tehran in 2016.
Iran exported 2.4 million bpd of crude oil in May, SHANA reported, and 300,000 bpd of natural gas condensate.
National Iranian Oil Co (NIOC) has already distributed the samples of the heavy oil from West Karoun oilfields in southwest Iran to some customers. Production from the field has nearly doubled in the past year to 300,000 bpd.