Iraq Races To Fill The Gap Left By The Saudis

7 Aug 2017   Iraq

Iraqi oil exports topped 100 million barrels in July, but that’s still lower than the 3.93 million barrels per day rate Baghdad boasted back in May . The latest figures from the Iraqi Oil Ministry do not include exports from Kurdistan, which reach international markets via the controversial Kirkuk-Ceyhan pipeline. SOMO, the national oil distribution company, said all the exported oil had originated from central and southern oilfields. June data shows Kirkuk exporting 677,413 barrels, or 22,000 bpd. It remains unclear whether shipments from the area, formally under the control of the Kurdistan Regional Government (KRG), have been affected in July. Each month, the United States accepts a larger share of Iraq’s total exports in a bid to replace the high sulphur, heavy grades of crude that Saudi Arabia used to supply. Riyadh has made lowering its exports to the U.S. a cornerstone of its strategy to lower crude […]

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