IRAN - Logistics.
NITC, NIOC's shipping arm which is autonomous, has scrapped many of its vessels in recent years. NITC handles much of NIOC's exports and ferries crude oil to the Bandar Abbas refinery. NITC provides bunkering services on Kharg island and in other ports in a JV with a local fuel seller. An offshore bunkering JV 15 km south-west of Qeshm island was launched in June 2000 by Singapore-based Global Energy with NITC and NIOC. Iran has eight export terminals with a 7m b/d capacity for crude oil and liquid fuels, including condensates, and other gas liquids. The main terminal is on Kharg island, where the storage capacity has been expanded by 25%.