Iran Plans New Oil Export Terminal

By Admin
Iran announced plans today to use a new oil terminal outside the Strait of Hormuz to protect its exports and boost shipments of Caspian oil, according...

 

Iran announced plans today to use a new oil terminal outside the Strait of Hormuz to protect its exports and boost shipments of Caspian oil, according to the oil ministry news website.

The new shipping lane would be connected to the Caspian Sea port of Neka and use a 1 million barrel a day pipeline with a storage capacity of 20 million barrels. The head of the Iranian Oil Terminals Company (IOTC), Pirouz Mousavi, says the new terminal would serve as a fall-back option should any problems arise in the Gulf.

"In the event of any type of problem in exporting crude oil from the Kharg terminal, this terminal can provide back up for exports," the Shana website quoted Mousavi as saying.

SEE OTHER TOP STORIES IN THE ENERGY DIGITAL CONTENT NETWORK

Energy Industry Optimism Abounds at CERAWeek 2012

TransCanada is Back, Offers Alternative Route

Check out April's issue of Energy Digital!

Over the weekend, Iranian oil officials announced a major oil field find in the Caspian Sea, with reported estimates of up to 10 billion barrels of oil under the landlocked sea. Iran currently consumes the oil domestically, because the infrastructure to link it to ports in the south of the country are lacking.

Iranian oil minister Rostam Qasemi said Monday that the country's oil production capacity will increase by 1.5 million bpd over the next few years, compared to about 4 million bpd now.

DOWNLOAD THE ENERGY DIGITAL IPAD APP

 

Share

Featured Articles

Energy Security Bill introduced to UK Parliament

UK Energy Security Bill to support roll-out of low carbon technologies such as CCUS and hydrogen, and deployment of heat networks

Shell commits to Europe's largest renewable hydrogen plant

The 200MW electrolyser will be constructed on the Tweede Maasvlakte in the port of Rotterdam and produce up to 60,000kg of renewable hydrogen

Shell invests in Qatar LNG North Field East project

Shell buys 25% stake in Qatar LNG North Field East expansion project which will have capacity of 32mn tonnes a year

Gas-led recession a 'near certainty' in Europe

Oil & Gas

ABB scoops global energy automation technology award

Technology & AI

INEOS Köln awarded €770,000 for green hydrogen study

Renewable Energy