By John Lee.
Iran is to open a pipeline and terminal to export a new grade of crude by the end of this year, according to a Reuters report.
A senior official from the National Iranian Oil Company (NIOC) said on Monday that the terminal near Kharg Island (pictured) would be ready to export the new ‘West Kharoon’ grade, after the facilities were completed “sometime by the end of this year.”
It is described as being of similar quality to Iraq‘s Basra Heavy crude, with an API gravity of between 22 and 26 deg and a sulphur content higher than 2%.
Initial production could be just under 300,000 bpd.
(Source: Tanker Operator)