Iraqi oil exports from the southern Basra ports increased by 1% to 3.535 million barrels per day (mb/d) in December 2017, compared to 3.5 mb/d in August, two oil officials stated, according to Reuters.
Southern oilfields’ exports are increasing as Iraq seeks to balance the halting of cargoes from its Kirkuk oilfields in the north, which stopped in mid-October after Iraqi forces regained control of the fields from Kurdish fighters, Hellenic Shipping News reported.
“Our plan is to keep boosting exports from the southern oilfields to make up for the lost Kirkuk shipments,” said an oil official at the Iraqi state-run Basra Oil Company.
Iraqi total oil exports are being sent out through the southern terminals.
Meanwhile, Southern oilfield’s exports rose by around 0.7% year-on-year (Y.o.Y) from 5.2 mb/d in December 2016, which was the last month ahead the output cut agreement led by the Organization of the Petroleum Exporting Countries (OPEC) took effect.