Tipsheet

Iran Activates Retired 30-Year-Old Super Tanker As They Run Out of Places to Store Oil

Iran has reportedly activated a 30-year old retired super tanker, NASHA, to store oil, as the United States blockade has forced their storage to reach critical capacity.

The super tanker is capable of holding two-million barrels of oil, and is currently on it's way to Kharg island, a critical component of Iran's oil refining capcity that handles roughly 90 percent of the country's crude oil. The tanker is set to give the Iranian regime an additional 48 hours as it struggles to form a unified position and strategy for negotiations with the United States.

The current U.S. blockade has effectively cut off Iran’s oil exports, not only crippling the country financially but also forcing it to store excess crude. But the situation could soon get worse: once storage capacity is maxed out, Iran may be forced to shut in production wells, risking permanent damage from water coning and potentially removing 300,000 to 500,000 barrels per day of future output.

One analyst said that the activation of NASHA shows a regime quickly running out of options.

The vessel is also so old, that a trip that would take a typical tanker only a day and a half to reach Kharg island, is set to take around four. 

This comes as Secretary of War Pete Hegseth provided an update Friday morning on the ongoing U.S. blockade, which he said "is tightening by the hour."