VOL. XL No. 2126-May-1997IRANSouth Korea To Build Five New Tankers For NIOC

The National Iranian Oil Company (NIOC) is to buy five crudetankers from South Korea under an agreement signed on 21 May in Seoul during the visit ofthe Iranian Oil Minister, Mr. Gholamreza Aghazadeh, to South Korea. According to an IRNAreport, the vessels will raise the total capacity of Iran's tanker fleet to 4mn tons andare expected to be delivered within two years. Commenting on the agreement, NIOC officialssaid...