Iraq sees oil exports rise

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Iraq's crude exports rose in September to 2 million barrels per day from 1.8 million bpd the previous month, an Iraqi oil official said.

News wires 04 October 2010 02:12 GMT

Reuters quoted the head of Iraq's State Oil Marketing Organisation, Falah Amri, as saying average exports from the southern oil hub of Basra reached 1.5 million bpd, while exports from oilfields in the north around Kirkuk averaged 513,000 bpd.

The exports from Kirkuk included 10,000 bpd taken through Jordan via trucks, he said, adding that the average selling price was about $72.50 per barrel.

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.

Exports from Basra can fluctuate widely due to weather conditions or technical problems, while a number of bomb attacks have hampered crude flow from Kirkuk fields.

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

OPEC member Iraq has signed deals with international oil companies that have the potential to boost its output capacity to 12 million bpd in seven years from the current 2.5 million bpd, rivalling top oil producer Saudi Arabia.

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