Iraq’s oil exports increase for the first time in four months

Iraq’s oil exports recorded a rise in August after a decline during the past three months after attacks on oil lines and maintenance work.
“Iraq’s average of crude exports reached to 2.579 million barrels per day in August compared to 2.324 million barrels per day (bpd) in July,” The oil ministry said in a statement received by “Shafaq News”.

The exports were amounted to 2,328 million bpd in June and 2.484 million bpd in May while in April, the exports reached 2.62 million bpd.

The exports were severely affected due to the continued stop of pumping from Kirkuk oilfields to the Turkish port of Ceyhan on the Mediterranean because of the attacks and leak in pipelines.
Since 21 of past June, Iraqi oil pipeline has pumped oil to Turkey only for a limited time.

The oil ministry said in a statement that exports in August recorded the highest revenues this year to 8.300 billion dollars.
Iraq was the second largest producer in OPEC, as it has put a goal to export 2.9 million bpd, according to what was included in the country’s financial budget for the current year.

© Shafaq News 2013, Sep 01 2013