Iraqi Oil Exports Top 2m bpd in September

Iraq’s crude oil exports rose in September to 2.021 million barrels per day from 1.789 million bpd the previous month, Reuters has reported.

Falah al-Amri, the head of Iraq’s State Oil Marketing Organisation (SOMO), said average exports from the southern oil hub of Basra reached 1.508 million bpd, while exports from oilfields in the north around Kirkuk averaged 513,000 bpd, at an average selling price of about $72.5 per barrel..

The exports from Kirkuk included 10,000 bpd taken through Jordan via trucks.

Amri cited fewer technical problems and power shortages in the south and fewer sabotage acts on its northern Kirkuk-Ceyhan pipeline to explain the September increase. Surplus in stored quantities at Ceyhan port was also a reason.

Iraq expects average crude exports in 2011 to top 2 million bpd on the back of oil development deals, said Amri.

On Monday the Minister for Oil, Hussain al-Shahristani, said the country had nearly a quarter more oil reserves than were previously declared.

(Source: Reuters)

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