Basra Oil Exports Recover

Reuters reports that oil exports from Iraq’s Basra terminal recovered  to 1.56 million barrels on Tuesday, after dropping to 720,000 barrels on Monday due to pipeline repairs.

“The flow rate from Basra port is recovering after they finished repairs on some parts of the export pipeline yesterday evening,” a shipping source claimed.

The shipper said three ships were loading crude and six were waiting at anchor. A South Oil Co. official said two turbines pumping crude to the offshore terminal stopped working on Sunday evening and caused the drop in exports.

“Two crude turbines in the North Rumaila PS1 (pumping station) and the Tuba storage facility stopped working and caused a cut in supply,” the official told Reuters on condition of anonymity.

(Source: Reuters)

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