Iraq’s Ministry of Oil has announced a rise in the storage capacity of crude oil in South Iraq to more than 10.5 million barrels.

The launching of three new tanks has increased capacity to export Iraqi oil, ministry spokesperson Assem Jihad said, adding that the new capacity is for one million barrels.

We hope to increase storage capacity to more than 15 million barrels, Jihad noted, adding that this is in-line with the Ministry of Oil’s plans for this year and with its strategy to increase Iraqi oil exports.