More than 90% of Iran’s total oil production comes from Kharg Island. It has a storage capacity of around 30 million barrels. This capacity is now almost full, with only about 13 million barrels of space remaining. Approximately 10,000 to 100,000 barrels of oil are being added daily. At this rate, storage is expected to reach full capacity within the next 12 to 13 days. According to recent satellite images, about 5 million barrels of oil have been loaded onto three tankers at the Kharg terminal. To manage excess storage, Iran has brought back into use the 30-year-old “Nasha” tanker. Iran’s oil sector is currently under severe pressure. With storage capacity nearing its limit, a major crisis is emerging. With the strait closed, many tankers in the Gulf are stranded, impacting the global supply chain. Sanctions and the blockade of the Strait of Hormuz have significantly reduced oil exports. As a result, crude oil stocks are rising rapidly, but storage space is running out. Iran must keep wells operating that rely on water injection technology, as shutting them down could cause permanent damage.
