Iraq Boosts Oil Export Capacity – report

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North Arabian Gulf - (Oct. 20, 2004) - The guided missile destroyer USS Preble (DDG 88) patrols the waters surrounding the Al Basrah Oil Terminal (ABOT) as a super tanker takes-on crude oil. Preble is among several U.S. Navy, Coast Guard and coalition ships that share the responsibilities of patrolling and safeguarding the waters near the Khawr AL Amaya Oil Terminal (KAAOT) and the Al Basrah Oil Terminal (ABOT) in the Arabian Gulf. Preble is home ported in San Diego, Calif., and is assigned to Expeditionary Strike Group Three (ESG-3). U.S. Navy photo by Photographer's Mate 1st Class David C. Lloyd (RELEASED)

Iraq has increased oil export capacity from its southern ports by 900,000 barrels per day (bpd) to 4.6 million bpd after adding a new floating terminal in the Gulf, Oil Minister Jabar al-Luaibi said in a ministry statement.

“Oil export capacity have reached unprecedented levels after adding a new single point mooring with an additional export capacity of 900,000 bpd”, the statement said on Sunday.

Iraq now has four operational single point moorings (SPMs) for loading oil tankers.

Last week OPEC member Iraq increased oil exports from the southern Basra region by 200,000 bpd to make up for a shortfall from the northern Kirkuk fields.

The country reluctantly agreed in November to an OPEC deal to cut production in a collective effort aimed at boosting oil prices.

It had argued that it should be allowed to produce at will to make up for three and a half decades of disruption due to wars and sanctions.

Oil exports from Iraq’s southern fields reached to 3.240 million bpd in September. Iraq ships the bulk of its oil exports from its southern terminals on the Gulf.

[reuters]

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