Iraq oil exports average 2.375 mbpd in August
BAGHDAD, September 2, 2014
Iraq’s oil exports fell in August to an average of 2.375 million barrels per day (mbpd) from 2.442 mbpd in the previous month, officials from the state-run South Oil Company (SOC) said.
Iraq exports the bulk of its oil from its southern ports. But shipments from the northern oilfields of Kirkuk have been shut since March 2 due to attacks on a pipeline to Turkey, keeping total exports below their potential.
“Some days of bad weather in August contributed to the slight fall of exports from the southern ports,” an official with Iraq's state-run South Oil Company (SOC) said.
Iraq is currently facing a resilient Sunni Islamist insurgency where Islamic State fighters seized control of large swathes of land in the north and west of the Opec member.
Iraq's mainly Shi'ite south, where the majority of the oilfields being developed by foreign firms are located, has been relatively safe and stable for the past two years. -- Reuters
