| Code: 9271 |

TIN news:    Four crude storage tanks are to become operational soon in the Kharg oil terminal, managing-director of Iran Oil Terminals Company (IOTC) said.
 
 Pirouz Mousavi said the tanks, each with capacity of one million barrels, are 97 percent ready.
“These storage tanks will boost Iran’s bargaining power in energy diplomacy at international level and will affect the country’s crude oil exports process,” he said.
Mousavi said the project hit snags after sanctions were imposed on Iran, banking restrictions were enforced and foreign exchange rate jumped sharply in 2012.
The four storage tanks will increase the oil stock capacity of Kharg terminal to 28 mb/d. The main objective behind this project is to boost the country’s crude oil storage capacity and avoiding combination of light and heavy crude oil.

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