Iraq: Russian delight as southern exports reach new highs
Issue 996
- 03 Jul 2015
| 3 minute read
Crude exports reached a record 3m b/d in H1 June, as output has risen. Lukoil president Vagit Alekperov confirmed in mid-June that the giant West Qurna-2 oilfield development is now producing at its first-phase peak of 450,000 b/d, and State Organisation for the Marketing of Oil (SOMO)’s decision to split its export flows into the new Basra Heavy and traditional Basra Light crudes was judged a success by operators. Total output has been running at an average 3.6m b/d, a post-1979 record, despite recent blockages at the Turkish port of Ceyhan.
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