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FINANCIAL NEWS
Iraqi oil exports decline in January
31 Jan 2015
(MENAFN) Iraq, OPEC’s second-largest producer, registered a decline in its oil exports from its southern region in January from a record high recorded in the previous month due to shipping delays, The Peninsula Qatar reported.
The exports of Iraq’s southern terminals that produce the bulk of Iraq’s oil have averaged 2.67 million barrels per day (bpd) during the first 28 days of January, which is a decline from a record rate of 2.76 million bpd in December.
Meanwhile, the Kurdistan’s region’s oil exports from the Turkish port of Ceyhan, which have continued in January after the deal that was signed between Baghdad and the Kurdistan Regional Government in December, although the flow has declined in January as well.
Kirkuk exports from Iraq’s State Oil Marketing Organization (SOMO) have averaged 150,000 bpd in January, thus bringing the total pipeline exports of Iraq’s main crudes to 2.82 million bpd, lower than December’s 2.94 million bpd, a record high.
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