01/13/2023 | Press release | Distributed by Public on 01/13/2023 04:57
Shuttle tankers, which transport oil from off-shore fields, began its first operations in the North Sea. NAT played a major role in developing this sector.
It's largest customer in the shuttle tanker business was the publicly listed major oil company Statoil, in which the Norwegian government owns about 70% (Statoil has since been renamed Equinor).
NAT also operated shuttle tankers in Brazil in the late 1990s, ceasing operations there about twenty years ago.
At this time Nordic American is not involved in the shuttle tanker business, and has no plans to re-enter it.