Operations Resume at Iraq's New Oil Export Terminal

The Kipp Report, citing sources at Iraq's state-owned South Oil Company, reports that Iraq's new offshore oil export terminal had resumed operations at 7.30 p.m. (1630 GMT) on Thursday, and was loading at a rate of 576,000 bpd.

Iraq’s Oil Minister Abdul Kareem Luaibi had said earlier on Thursday that bad weather rather than technical faults was to blame for the interruption in operations at the new single-point mooring (SPM).

The new facility loaded 2 million barrels of oil into its first ship, the Maersk Hirado (pictured), between 8th March and 13th March, but had subsequently stopped operations.

Shipping data reportedly showed exports from Iraq’s southern oil terminals rose to 2.4 million bpd on Friday from 1.94 million bpd on Thursday, its highest level since 2003.

(Source: Kipp Report)

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