Saturday 21 April 2018

Iraqi oil exports hits 2.1 million bpd in Sept

Baghdad, October 1, 2011

Iraqi oil exports were 2.101 million barrels per day in September compared to 2.189 million bpd in August, the head of the State Oil Marketing Organization (Somo), said on Saturday.

Daily average exports in September from the southern port of Basra were 1.767 million bpd while exports from northern Kirkuk were 334,000 bpd, Somo chief Falah Alamri told Reuters.

Iraq expects to start using one of three new offshore floating export terminals in the Gulf on January 1, a major step in its plans to build up export capacity to handle growing production from its southern oilfields.

"Iraqi exports are expected to increase remarkably to higher levels right at the start of next year, helped by having the first floating terminal to handle more exports operations," Alamri said.

Average daily exports since the start of the year to September were 2.18 million bpd. The average selling price of Iraqi crude in September was around $105 per barrel.

OPEC member Iraq is trying to overcome crude export infrastructure limitations to achieve its ambitious plans to tap into the world's fourth-largest oil reserves and join the ranks of major exporting countries.-Reuters

Tags: Iraq | Oil Exports | SOMO |

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