Iran has plans to increase its oil storage capacity to 32 million barrels, according to a spokesperson from the Iranian Oil Terminals Company (IOTC).



http://www.tankstoragemag.com/industry_news.php?item_id=8449&utm_source=Tank+Storage+Magazine&utm_campaign=8fcf16d7a7-TSM_News_29_10_2014&utm_medium=email&utm_term=0_a19947d14a-8fcf16d7a7-221591897&ct=t(TSM_News_29_10_2014)&mc_cid=8fcf16d7a7&mc_eid=d7c7dcbd33

Iran has plans to increase its oil storage capacity to 32 million barrels, according to a spokesperson from the Iranian Oil Terminals Company (IOTC).

The country has reportedly launched a test operation of four new storage facilities in Kharg Island. The terminals have a combined capacity of 4 million barrels and will bring Iran's total oil storage capacity up to 28 million barrels once they come on-stream.

Based on global standards, Iran wants to have enough storage capacity for 15 days of exports.

The new facilities reportedly cost around 420 billion rials (€12.3 million), and more are planned.