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FINANCIAL NEWS
Iraq oil output to exceed 1.9m bpd in May
18 May 2010
(MENAFN) A senior executive at Iraq?s State Oil Marketing Organization (Somo) said that the country?s oil exports in May are expected to exceed 1.9 million barrels per day (bpd), recovering from a dip last month, Reuters reported.
Iraq?s oil exports fell in April to 1.767 million bpd from 1.79 million bpd the month before, according to the official.
The reason behind the fall in exports last month was bad weather and pumping problems in the main exporting hub of Basra and a halt of exports through the pipeline from Kirkuk to Ceyhan on the Turkish coast after a bomb attack.
A Reuters survey showed that oil production in Iraq fell to 2.28 million bpd in April from 2.32 million bpd in March.
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