The first oil shipment from Iran’s floating oil storage unit (FSU), Khalij-e-Fars has recently just been completed, according to the Iranian Offshore Oil Company (IOOC).
The transfer of oil from the FSU began on the morning of February 8th to the KAI-EI, a very large crude carrier (VLCC) owned by Japanese firm, Kyoei Tanker Company.
The Khalij-e-Fars is a converted VLCC has a capacity of 2.2 million barrels, is 337 meters long, 60 meters wide and has 21 storage tanks.
The 50,000 gross ton vessel was installed last year and will replace the Surena FSU which was previously Iran’s largest offshore oil terminal servicing the Soroush and Nowruz oil fields.
The IOOC says the vessel has an export capacity of 1 million barrels per day which will likely serve Japanese, Chinese and Indian customers.
Russia's Black Sea port of Novorossiysk temporarily suspended oil exports - equivalent to 2.2 million barrels per day, or 2% of global supply - on Friday, according to industry sources, after a Ukrainian missile and drone attack.
Ukrainian forces carried out an attack on a major Russian Black Sea port overnight, prompting a state of emergency, as Moscow launched a widespread air strike on Kyiv that killed at least six and damaged residential buildings.
Iranian Revolutionary Guard Corps naval forces have seized the Marshall Islands-flagged oil tanker TALARA approximately 20 nautical miles east of Khawr Fakkan in the United Arab Emirates, according to reports...
November 14, 2025
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