Shipping

Once oil is produced, it needs to be transported to refineries, processed and delivered to end customers. The largest proportion of crude oil and refined product transportation is undertaken by sea. Nearly half of the world's seaborne trade consists of crude oil or petroleum products. The largest tankers presently in use can carry 4/4.5 million barrels of crude oil.

Products such as fuel oil, naphtha, jet fuel, and lubricating oils are often transported in smaller tankers. Some tankers are fitted with separate compartments enabling different products to be carried in one tanker at the same time.

Shipping activities have expanded beyond Tamoil’s initial requirements to supply its first refinery in Italy, and today they cover the transportation requirements of all three Tamoil refineries and Tamoil’s greatly expanded international products sales business.

A total of 19 million tons of crude oil and products (266 shipments), of which 24% by controlled tonnage, were transported during the year to meet the Group’s refinery requirements and market demand.