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Iraq aims to lift exports to post-war record
Iraq aims to sell an extra 125,000 barrels per day (bpd) of northern Kirkuk crude in June, lifting overall shipments to a post-war record, a senior Iraqi oil official said on Monday.
- Reuters
- Published: 00:21 May 20, 2008
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London: Iraq aims to sell an extra 125,000 barrels per day (bpd) of northern Kirkuk crude in June, lifting overall shipments to a post-war record, a senior Iraqi oil official said on Monday.
If all goes well, exports of Kirkuk and Basra Light from the south will reach about 2.1 million bpd next month - up from a previous peak of around 1.93 million bpd in February.
"Let's pray," said Falah Alamri, Director General of the Somo. "In June we expect to export around 600,000 barrels per day - up from about 475,000 in May".
Scheduled maintenance at Iraq's Baiji refinery will free extra crude from the giant Kirkuk oilfields for the international market.
"June is a special month because of this," said Alamri, but he expected to see improvement in flow rates.
Tighter security has allowed Iraq to boost exports through its northern pipe-line to Turkey since last summer. Shipments of Kir-kuk are averaging around 475,000 bpd and could rise to 550,000 bpd during the fourth quarter, he said.
Opec meeting: Not before september
Opec members are exchanging ideas about the oil market but will not meet before their next scheduled gathering in September, Opec President Chakib Khelil said on Monday.
"Opec will not meet before September. Opec has decided to meet on September 9. There will be no meeting (before that)," he told reporters.
"Opec members are exchanging opinions and ideas. We will wait until September to make the right decision and see whether we need to increase output," he said.
- Reuters
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