Iraq wants to store oil in the Sultanate of Oman

27/04/2017-15:34


Economy news Baghdad:



An oil source, revealed Thursday, the Sultanate of Oman seek to sign a deal with Iraq for oil storage and export it easily into the Asian market.

The source said in a statement obtained by the news, "economy", to "the Sultanate of Oman seek to sign strategic deal with Iraq this week, oil storage as part of its plan to expand export outlets with access to the Asian market niches."

"The memorandum of understanding signed with the Sultanate of Oman seeks Iraq oil company does not oblige bye commercial terms only give another element in Oman plan to expand commercial outlets identified last year by expanding commercial area 15% duqm over an area of two thousand kilometers which includes oil storage facilities at the pier to the top center of crude oil in duqm port."

"Based on the expansion project that extends over an area of 1600 hectares, the storage facilities at the top of the Center will be ready to accommodate more than 200 million barrels of crude oil.

Meanwhile, Middle East Centre for research in the report, that "the strategic location of the pier head of crude oil Center offers easy access and vital for South Asian markets and markets of the far East and Africa as well as an easy passage for oil producers in the Middle East, and will place strategic oil storage area meets the needs of oil producers in the region."

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