Iraq to Increase Oil Exports in October

By John Lee.

Platts reports that Iraq plans to export an average of 3.28 million barrels per day (bpd) of crude oil in October, a rise of 23,000 bpd from the previous month.

It cites data from the State Oil Marketing Organization (SOMO) showing planned export volumes of 80.68 million barrels (2.6 million bpd) of Basra Light, of which 694,000 bpd is scheduled as payback oil by IOC contractors, including the contractor developing Block 9 exploration block for the first time.

There are also 21 million barrels (678,000 bpd) of Basra Heavy, of which IOC contractors are allocated 323,000 bpd as payback oil.

The loading program is close to Iraq’s actual 2016 average export rate of around 3.25 million bpd.

(Source: Platts)

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