03-12-2018

Iraq’s southern oil exports at 3.36 mln bdp in November – ministry

Iraq’s crude oil exports from its southern ports on the Gulf stood at 3.363 million barrels per day (bpd) in November, the oil ministry said on Saturday.

Total oil exports were 3.372 million bpd, with 8,716 bpd exported via Turkey’s Ceyhan port through pipelines in the north, a ministry statement said.

Exports were down on the previous month owing to bad weather that slowed shipments and prevented crude loading on some days, Iraqi oil executives said this week. Such delays often occur at this time of year.

Iraq exported 3.47 million bpd of crude oil from its southern oilfields in October. Iraq is OPEC’s second-largest producer after Saudi Arabia and pumps around 4.6 million bpd.

The bulk of Iraq’s oil is exported via the southern terminals, which account for more than 95 percent of the OPEC producer’s state revenue.

Iraq resumed exports of Kirkuk oil last month after a year-long halt following an abortive independence referendum by Iraqi Kurds. The resumption came after U.S. pressure to get oil from Kirkuk in the north pumping again to offset a shortfall in Iranian oil to global markets triggered by the reimposition of U.S. sanctions on Tehran.
Source: Reuters

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