Iraqi crude ex­ports slump to sev­en­month low in Novem­ber at 3.372 mil b/d

Tehran Times - - ENERGY -

Fed­eral Iraq’s crude oil ex­ports fell to 3.372 mil­lion b/d in Novem­ber, the low­est since April this year, as load­ings were af­fected by rough weather, ac­cord­ing to a state­ment from the oil min­istry re­leased over the week­end.

Ex­ports from the Per­sian Gulf ter­mi­nals fell to 3.363 mil­lion b/d while load­ings of Kirkuk crude trans­ported through the Kur­dis­tan-Tur­key pipe­line rose to 9,000 b/d, af­ter pipe­line ex­ports from the Kirkuk fields re­sumed for the first time since Oc­to­ber last year.

Novem­ber ex­ports by the fed­eral gov­ern­ment of Iraq dropped by 106,000 b/d com­pared to Oc­to­ber and were down by 211,000 b/d com­pared to Au­gust when they reached an all-time high of 3.583 mil­lion b/d.

The fall in ex­ports is at­tributed to a dip in load­ings from its south­ern ter­mi­nals as five days of rough weather dur­ing the month af­fected berthing and load­ings. On Novem­ber 09, ship­ments of Bas­rah Heavy and Bas­rah Light were halted, ac­cord­ing to ship­ping sources.

Load­ings from Iraq’s Khor Al-Amaya ter­mi­nal con­tinue to re­main due to pipe­line leaks and over­all main­te­nance. Ex­ports from this ter­mi­nal have been sus­pended since the start of 2018.

Fed­eral Iraq saw its first ex­ports from Cey­han since it was sus­pended uni­lat­er­ally by the semi-au­ton­o­mous Kur­dis­tan Re­gional Gov­ern­ment in June 2017. But the gov­ern­ment of Iraq and the KRG agreed a ten­ta­tive deal in mid-Novem­ber un­der which the lat­ter has given as­sur­ances that it will trans­fer all fed­eral Iraqi crude to stor­age tanks op­er­ated by North Oil Com­pany at Cey­han for Iraq’s State Oil Mar­ket­ing Or­ga­ni­za­tion to sell.

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