Iraq to Boost Basrah Crude Oil Export

Iraq to Boost Basrah Crude Oil Export

Iraq will export 3.257mb/d of Basrah crude oil in September, up 13% from August, with both Basrah Light and Basrah Heavy seeing a rise in volumes, S&P Global Platts reported. The September program includes 2.324mb/d of Basrah Light and over 930,000 b/d of Basrah Heavy, according to Platts latest provisional loading schedule.

Hellenic Shipping News wrote that August export nominations were 2.8mb/d, comprising 2.078mb/d of Basrah Light and 710,000 b/d of Basrah Heavy exports. August loading program was light because of delays caused by a leak in a pipeline carrying Basrah Light crude.

Despite ISIS-fueled chaos, Iraq has been increasing its oil production over the last months and thus increasing its overall export capacity. In July 2016, exports from its southern ports rose to 3.2mb/d on average, bringing in $3.744b in oil export revenues.


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