Iran light crude exports from Khark terminal up 87%

Shana — Export of light crude oil from Khark Oil Terminal, Iran’s biggest oil export terminal, rose by 87% year-on-year in the previous calendar year (ended March 20).

Iran exported 240 million barrels of light crude oil from the terminal during the previous calendar year, up by 87% from the preceding year, said Managing Director of Iran Oil Terminals Company (IOTC) Pirouz Mousavi.

He said the boost is a direct consequence of the implementation of Tehran’s nuclear deal with the P5+1 group of countries, also known as the Joint Comprehensive Plan of Action (JCPOA).

He said IOTC has also raised the level of its crude inventories in the post-sanctions setting.

Mousavi further said that the company has devised a number of plans for boosting its storage capacity.

Iran exported 780 million barrels of oil from the terminal last year.

Furthermore, over 800 vessels called at the terminal last year, up from the preceding year’s 540 vessels.

As a subsidiary of the National Iranian Oil Company (NIOC), IOTC concerns storage, metering, export and import of oil, petroleum products and natural gas.