Iran aims to cut its spend on tanker hire with the launch of two new oil storage facilities.
The coastal complexes, at Jask in the Gulf of Oman and Bandar Ganaveh on the Persian Gulf, are part of investments in 17 projects to boost revenue by $2bn annually, Newsbase Daily News reported.
It said the storage capacity will help mitigate the effects of US sanctions, which have reduced oil exports to a record low of 200,000 barrels per day.
