An Emirati and an Iraqi company signed a significant oil transport agreement Monday.
What happened: The Abu Dhabi-based AD Ports Group’s subsidiary SAFEEN will help Iraq’s Amaan Baghdad Company transport oil out of Iraq. SAFEEN agreed to provide three “very large crude carriers” and one “medium range tanker” for the project. SAFEEN will use the midsized ship to transport oil from Khor Al Zubair and Umm Qasr in southern Iraq into Iraqi territorial waters. The oil will then be loaded onto the large ships, AD Ports Group said in a press release.
