Iran to double oil reserve capacity

LONDON (IranMania) – Iran plans to start construction of four one-million oil storage tanks in Kharg Island in a bid to double its oil reserve capacity, PressTV reported.

The managing director of Oil Terminals Company, a subsidiary of the state-run National Iranian Oil Company, says the new storage capacity is necessary to store seasonal offshore oil into onshore storage facilities.


“Construction of the tanks will enable the country to raise its storage capacity by 50 per cent,” says Mousa Souri, reported by ISNA on Friday.

This is part of the long term energy strategy policy of the country to increase its oil reserves as current level of stored crude oil in tankers are considered to be at their 5-years low, Souri added.

IranMania