BASRA - The company has specialized mainly in transporting heavy fuel oil in recent years, but with the ongoing expansion of its tanker fleet Oil Minister Hayan Abdulghani has recently signed off on a plan for IOTC to handle a portion of Iraq’s crude exports.
IOTC currently has four tankers in its fleet. In addition to two new tankers set for delivery in June and September, the company hopes to purchase very large crude tankers (VLCCs) that it can finance from its own revenues.
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