Iraq’s 2025 Oil Investment Could Buy 80 Tankers
Iraq’s Ministry of Oil reported investment spending exceeding 12.87 trillion dinars in 2025, a sum sufficient to purchase a large fleet of VLCC oil tankers.
ERBIL (Kurdistan24) - Iraq’s Ministry of Oil allocated more than 12.87 trillion dinars ($9.9 billion) in investment expenditures in 2025, an amount the Eco Iraq Observatory said could have financed the purchase of approximately 80 very large crude carrier (VLCC) tankers.
The observatory, in a press statement, noted that “the Ministry of Oil has been one of the ministries with the highest allocations for investment expenditures throughout the past years,” and emphasized that the 2025 spending level highlights questions about the ministry’s priorities. Each VLCC tanker, the statement said, is valued at roughly $110 million, enabling the transport of both Iraq’s oil and that of other countries.
The report outlined various tanker types, including ultra-large crude carriers (ULCC), VLCCs, Suezmax, Aframax, Panamax, medium-range (MR), and Handysize vessels. The Eco Iraq Observatory underscored that such investment could have strengthened Iraq’s capacity to export oil independently, reducing reliance on foreign companies and partners.
Officials from the observatory added that in the context of growing economic pressures, including urgent needs in electricity, water, and health sectors, directing funds toward a fleet of giant oil tankers might have provided a significant strategic and economic benefit.
The observatory highlighted that Iraq’s high investment expenditures in the oil sector have consistently been among the largest in the government budget, suggesting that similar allocations in prior years could have expanded the country’s oil transport infrastructure substantially.
While the ministry’s statement confirmed the investment figures, it did not specify whether tanker acquisitions were planned or included in the 2025 expenditure allocations. The Eco Iraq Observatory maintained that a fleet of 80 VLCCs would have represented a major capacity enhancement for Iraq’s oil logistics.
The ministry’s investment expenditures for 2025 reached more than 12 trillion and 873 billion dinars, the equivalent of $9.9 billion, according to the observatory, which calculated the potential number of VLCC purchases based on prevailing market prices.
The Eco Iraq Observatory concluded that prioritizing such a fleet could have bolstered Iraq’s ability to secure oil exports and potentially increase revenues without dependency on international transport operators.