The Bank Apicorp (Arab petroleum investment Corporation) and the national shipping Corporation of Saudi Arabia Bahri will form the investment Fund of $ 1.5 billion to increase oil fleet of the Kingdom to 61 large tankers. On Monday, July 18, Bloomberg reported, citing Minister of energy of the Kingdom Khaled al-Faleh.
“Additional 15 new tankers will be added to the fleet of Bahri, which makes it the world’s largest company for oil transportation”, — said the Minister.
Bahri controls about 20 percent of all oil tanker traffic in the world. According to Bloomberg, currently the largest fleet of large tankers is under the control of the Chinese company China Merchants Group. It consists of 53 vessels.
July 12, al-Faleh said that to achieve equilibrium in the energy market the price of oil should be above $ 50 per barrel.
In may, oil exports from Iran, which after the lifting of sanctions headed for a sharp increase in foreign supplies peaked in four years. The increase in supply indicates that Iran has enough tankers for export, said the experts.
