Middle East Economic Survey
NIOCs Floating Storage Volume Expanding In 2010
The National Iranian Oil Company (NIOC) has significantly expanded the amount of crude oil and condensate stored offshore in tankers since the beginning of 2010. Reports suggest that in the first quarter of the year seven VLCCs and one Suezmax tanker, with a combined storage capacity of 15mn barrels, were moored near Assaluyeh and Kharg Island. Recent estimates put the total stored...