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Shipping Industry Iran

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December 23, 1987 | CHARLES P. WALLACE, Times Staff Writer
Iraq staged a long-range bombing raid against a key Iranian oil export installation Tuesday, setting fire to four ships, including the world's largest oil tanker. The Larak Island terminal, in the Strait of Hormuz at the mouth of the Persian Gulf, is used by Iran to stockpile unsold oil for export, creating a vast inventory that has helped to depress world prices for crude oil.
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NEWS
December 23, 1987 | CHARLES P. WALLACE, Times Staff Writer
Iraq staged a long-range bombing raid against a key Iranian oil export installation Tuesday, setting fire to four ships, including the world's largest oil tanker. The Larak Island terminal, in the Strait of Hormuz at the mouth of the Persian Gulf, is used by Iran to stockpile unsold oil for export, creating a vast inventory that has helped to depress world prices for crude oil.
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