Iraq’s Ministry of Oil allocated more than 12.87 trillion Iraqi dinars (about $9.9 billion) for investment expenditures in 2025, an amount that could have financed the purchase of approximately 80 Very Large Crude Carrier (VLCC) tankers, according to a statement released by the Eco Iraq Observatory.

The observatory noted that the Ministry of Oil has consistently received some of the largest investment allocations in Iraq’s government budgets over recent years. It argued that the scale of the 2025 spending raises questions about strategic priorities within the ministry.

According to the report, a single Very Large Crude Carrier (VLCC) is valued at approximately $110 million. At that price, the funds allocated for 2025 investment spending could have financed the acquisition of around 80 tankers, capable of transporting Iraqi oil as well as crude from other producing countries.

The observatory explained that the global oil shipping industry uses several types of tankers, including Ultra Large Crude Carrier (ULCC), VLCC, Suezmax, Aframax, Panamax, Medium Range (MR) tanker, and Handysize tanker, each designed for different shipping capacities and routes.

The organization argued that investing in a national fleet of large oil tankers could significantly enhance Iraq’s independent oil export capabilities, reducing reliance on international shipping companies and foreign partners.

The observatory added that at a time when Iraq faces growing economic and infrastructure pressures, including urgent demands in electricity, water, and healthcare sectors, strategic investments that increase national control over oil logistics could produce long-term economic benefits.

The report also pointed out that oil sector investment spending has consistently been among the highest in Iraq’s federal budgets, suggesting that similar allocations in previous years could have been used to substantially expand the country’s oil transportation infrastructure.

While the Ministry of Oil (Iraq) confirmed the overall investment figure for 2025, it did not clarify whether purchasing oil tankers is included in the current investment plans.

According to the Eco Iraq Observatory, a fleet of around 80 VLCC tankers would represent a major expansion of Iraq’s oil logistics capacity and could help the country secure its export routes and potentially increase revenues by reducing dependence on international transport operators.