[ad_1]
A UAE and an Iraqi company signed a major oil shipping deal on Monday.
what happened: SAFEEN, a subsidiary of Abu Dhabi-based AD Ports Group, will help Iraq’s Amaan Baghdad Company transport oil out of Iraq. SAFEEN agreed to supply three “very large crude carriers” and one “medium tanker” for the project. SAFEEN will use the medium-sized vessel to transport oil from Khor Al Zubair and Umm Qasr in southern Iraq to Iraqi territorial waters. The oil will then be loaded onto large ships, AD port group said in a press release.
What does it mean: Very large crude oil carrier Used to transport oil over long distances. In this case, they will be used to export Iraqi oil from the Persian Gulf to international customers.
Why it matters: AD Ports Group is working hard to expand its international profile. In July, the UAE port giant Open an office In Uzbekistan – its first in Central Asia. In the same month, AD Ports Group acquired shares in two Egyptian shipping and freight companies. In May, AD Ports Group agreed to develop a new shipping terminal in the Red Sea.
understand more: The Iraqi federal government is currently embroiled in a dispute over an independent oil deal with the Kurdistan regional government. The ports of Khor Al Zubair and Umm Qasr are located within the federal territory.Disagreement leads some IOCs Withdrawal from Kurdistan Region.
[ad_2]
Source link
