Iraq intends to invite bids from international companies for the development of its oil shipping operations as it is pushing ahead with plans to expand exports of crude and associated products, according to the Oil Ministry.

OPEC’s second largest oil producer has just boosted its oil tanker fleet with two new Norwegian-built vessels and is in the process of buying more ships, the Ministry’s spokesman Assim Jihad told the official Iraqi News Agency.

“We are planning to sign contracts with serious global companies for the development of the operations of the National Oil Tankers Company, which is the Ministry’s official carrier of crude oil and petroleum products,” Jihad said.

The official said the two vessels would be deployed in the Southern port of Basra, Iraq’s largest oil export terminal.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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