Iraq exports 1st oil shipment after three decades of hiatus

The Iraqi oil ministry announced on Wednesday the exportation of the first shipment of crude oil through the Iraqi Oil Tankers Company after a break of about three decades.

A statement issued by the ministry quoted the director general of the company Hussein Allawi as saying that his country is determined to restore the activity of the Iraqi Oil Tankers Company in shipping crude oil and its derivatives to all parts of the world, revealing efforts to build an integrated fleet of giant tankers.

He added that the company has signed a number of cooperation agreements with the Arab Shipping Company in a step towards the gradual reconstruction of this sector, which has stopped its activity since 1991.

He indicated that the agreements included transport, joint cooperation, preparation and training of national cadres by 100 trainees annually.

For his part, ministry spokesman Assem Jihad said the shipment carried a load of nearly two million barrels and is headed to the United States

Source: Kuwait News Agency