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Page added on March 8, 2012
Iraq Production Reached 3 Million Barrels per Day in February
According to MEES, Iraq production has passed the 3 Mb/d mark in February thanks to the opening of a single Single Point Mooring as part of the Basra terminal expansion:
Iraq plans to start the actual loading of crude in a week to 10 days, initially boosting oil exports through the country’s south, which currently stand at about 1.7 million barrels a day, by 200,000 to 300,000 barrels per day, said Dhia Jaafar, the director-general of the state-run South Oil Co. The terminal’s full capacity will be 900,000 barrels a day. src.
If confirmed, this is the highest production level since 2001 or even 1980.
Four additional Single Point Mooring (SPM) are planned which could potentially bring Iraq export capacity past 6 Mb/d:
One Comment on "Iraq Production Reached 3 Million Barrels per Day in February"
Kenz300 on Fri, 9th Mar 2012 12:31 am
World oil production is struggling to keep up with increasing demand from China and India. China is the major factor in rising oil prices.
The high oil prices will have a negative impact on the world economy.