Bad weather hits Iraq's oil exports

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Bad weather cut oil exports from Iraq's Basra ports to 960,000 barrels per day (bpd) on Sunday from 2.35 million bpd a day earlier, a shipping source said.

"High winds in the Gulf are preventing loaded ships from leaving the port on Sunday," the source said.

Iraq exports the bulk of its crude from the southern ports at the Gulf and bad weather and technical issues have made it difficult for the OPEC member to keep shipments steady.

Iraq's oil exports fell to 2.34 million barrels per day (bpd) in December from 2.62 million bpd in November due to a rough weather and technical problems with a single point mooring terminal in the Gulf.

Lower oil shipments from autonomous Iraqi Kurdistan in December also pushed down total average exports due to disagreement over payments between Baghdad and the self-governed Kurdish enclave in the north.

"Bad weather is one of the major issues that could affect average exports for this month. I can predict a low figure for January also because of the weather," an official with Iraq's state-run South Oil Company (SOC) said.

Exports from the south, the country's main crude shipment point, have risen steadily, bringing Iraq closer to its highest export level in decades.

Related:
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Slumping oil won't derail $500bn Gulf infrastructure plan

Slumping oil won't derail $500bn Gulf infrastructure plan

Rich GCC nations will deploy huge reserves to maintain a breakneck...

Saudi Arabia's rulers reconsider ties to Wahhabi clergy

Saudi Arabia's rulers reconsider ties to Wahhabi clergy

Ruling family increasingly view the teachings of some of its...

1
Big Gulf sell-off fuelled by credit, lax regulation

Big Gulf sell-off fuelled by credit, lax regulation

New impetus to governments in the region to improve financial...

Most Discussed