Iraq to increase southern oil storage
- Iraq: Wednesday, January 16 - 2013 at 07:12
Iraq's oil ministry has unveiled plans to increase the country's southern oil storage capacity to 8.5 million barrels by the end of 2013 to help cope with export bottlenecks caused by bad weather or technical problems, Reuters has reported. Speaking at the opening of four new oil storage tanks near the southern city of Basra, the head of the state-run South Oil Co (SOC) said the new facility will add a capacity of one million barrels to existing 5.5 million barrels available. "Today we have managed to add one million barrels and boost oil storage capacity up to 6.5 million barrels. Another two million barrels capacity will be added by end of 2103," Dhiya Jaffar told the news service.
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