Iraq boosts southern oil exports to 2.11 mbpd
New SPM facility de-bottlenecks crude from southern fields
Iraq’s oil exports from the South continue to increase, with the latest shipping data culled by Reuters estimating that exports are up 190,000 barrels of oil per day (bpd) over April so far, with a mean average export figure of 2.11 million bpd.
Iraq’s exports have been increasing dramatically since the opening of a single-point mooring system offshore Fao in Basra. After several delays the facility came on stream on 8 March, and has seen four 2 million-barrel shipments leave so far this month.
In March, South exports averaged 1.92 million bpd, according to Reuters.
Iraq exported an average 2.37 million bpd in total in March, with 92% of its export hike above February coming from the South.
According to a report from Bloomberg, Iraq is set to increase its exports of Kirkuk crude via the creaking Ceyhan pipeline by 20% in April.
Citing a loading program, Bloomberg reports that 24 cargoes will be shipped, up from 21 in March. Oil will be pumped onto tankers at an average rate of 510,000 bpd, up from a 425,484 bpd average in March.
Baghdad is hoping to increase exports consistently, notwithstanding the shut-in of crude from the Kurdish region, instigated by the Kurdish Regional Government after non-payment of agreed dues from the Oil Ministry.
If the North Oil Company can deliver on its target, Iraq could export be exporting at a rate 2.6 million bpd by 1 May.