Gulf Oil and Gas accountACCOUNT

Bad Weather Still Slowing Iraq Basra Oil Exports

Source: Reuters 6/4/2012, Location: Middle East

Share |
Oil exports from Iraq's southern Basra terminals were still disrupted by a dust storm, with shipments cut to 1.41 million barrels per day (bpd) from 1.65 million bpd the previous day, a shipping source said.

"A dust storm is making visibility difficult for ships to reach the ports on Monday and preventing those who are berthed from leaving," the shipper said.

Bad weather has disrupted oil exports from Iraq's southern offshore terminal and forced neighbouring Kuwait to halt all of its oil exports, a shipping source and government official said.

However Kuwait was able to resume its oil exports as a sandstorm lifted there, a spokesman for state-run Kuwait National Petroleum Co (KNPC) said.

Kuwait produced around 2.77 million barrels per day (bpd) in May, slightly up from 2.75 mln bpd in April, according to a recent Reuters survey.

Kuwait has three refineries -- Shuaiba, Mina Abdullah and Mina al-Ahmadi -- with a total refining capacity of around 930,000 bpd.

In Iraq, loading operations at a new floating export terminal have resumed with pumping around 480,000 barrels per day, the shipping source said.

"A ship was anchored at the single-point mooring, but high winds prevented it from loading. It started loading after winds died down," the shipper said.

Iraq exports the bulk of its crude from southern ports at the Gulf. Shipments of crude from the Kirkuk field in northern Iraq usually average 350,000-400,000 bpd and are expected to remain stable around that level.

Iraq exported an average 2.452 million bpd in May, including 2.086 million from Basra and 366,000 from northern fields.

Iraq's oil production has been held back for decades by infrastructure crippled by years of sanctions and war, including a lack of export capacity on its small strip of the Gulf coast.

Production from Iraq's southern oilfields is expected to hit around 2.75 million bpd by the end of this year and the OPEC producer is expected to be the world's biggest source of new oil supplies over the next few years.

Financials and Investment News in Iraq >>

Iraq >>  6/22/2018 - Gulf Keystone, operator of the Shaikan Field in the Kurdistan Region of Iraq, provides an operational and corporate update. ...
Tanzania >>  6/21/2018 - Solo Oil plc, the natural resources investment company focused on acquiring and developing a diverse global non-operated portfolio of strategic oil an...

Austria >>  6/20/2018 - The Organization of the Petroleum Exporting Countries (OPEC) meets on 22 June 2018 to decide output policy amid calls from major consumers such as the...
Iraq >>  6/20/2018 - Genel Energy plc notes the announcement from DNO ASA, as operator of the Tawke PSC, that the Tawke partners have received $62.19 million from the Kurd...

China >>  6/6/2018 - Sino Gas & Energy Holdings Limited’s (Sino Gas) Joint Venture company, Sino Gas & Energy Limited (“SGE”), in conjunction with its Linxing Production ...
United Arab Emirates >>  6/5/2018 - Abu Dhabi National Oil Company is considering selling another 10 percent stake in its fuel distribution business, which listed in an initial public of...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Iraq Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 |

More News

 

Oil & Gas Companies in Iraq >>


Related Links

AE BH IL IQ JO KW LB OM QA SA SY YE
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.