It is reported that the completion of construction work of new storage tanks in Kharg Island in Iran will enable the country to raise its storage capacity by 25%.
Mr Mousa Souri MD of Iranian Oil Terminals Company said that construction work of the planned 5 million-barrel storage tanks on Kharg Island is expected to be completed by next 30 months.
He added that by storing more oil, National Iranian Oil Company will have the opportunity to sell it at a better price.