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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Iraq plans to increase crude exports through Basra in February

    Rocky
    Rocky
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    Iraq plans to increase crude exports through Basra in February Empty Iraq plans to increase crude exports through Basra in February

    Post by Rocky Wed 11 Jan 2017, 1:25 am

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    Iraq plans to increase crude exports through Basra in February


     Baghdad / Reuters 

    Iraq plans to increase crude exports from the southern port of Basra to the highest level ever in February for exports remain high despite the entry into force of the OPEC agreement to cut production this month. 
    According to trade sources and programs initial load obtained by Reuters that the Iraqi Oil Marketing Company (SOMO) government plans to export 3.641 million barrels per day of crude oil in February , which could push exports to bypass the record level recorded last month at 3.51 million barrels per day. 
    Records showed that February exports include 2.748 million bpd of Basrah Light and 893 thousand barrels per day of heavy crude from Basra. 
    In January Sumo planned to export 2.627 million bpd of Basrah Light and 903 thousand barrels per day of heavy crude from Basra. 
    Represents the most oil exports , Basra Iraq 's second - largest producer in the Organization of Petroleum Exporting Countries (OPEC). No one was immediately available for comment Sumo. 
    Iraq agreed to cut production by 210 thousand barrels per day in the first half of 2017 within the framework of OPEC agreement Although Iraq initially refused to participate in the production cuts, because it needs oil revenues to finance the war on the organization of the Islamic state. 
    Late last year , OPEC producers agreed with a number of outside producers to cut production to stem the glut of global supply and supporting prices. 
    On the other hand, the Iraqi Oil Ministry said in a statement that Iraq has reduced its production of crude by 160 thousand barrels per day since the beginning of January in line with the Organization of Petroleum Exporting Countries decision of the (OPEC) to cut production. 
    The statement quoted Iraqi Oil Minister Ali Jabbar Luaibi as saying that he hopes to cut production by 210 thousand barrels per day by the end of this month, agreed with OPEC to cut Iraq 's production level. 
    It was Iraq 's second largest oil exporter in OPEC have said that exports from the southern oil ports reached a record high of 3.51 million barrels per day , but it will cut the country 's production of crude. 
    In November , OPEC agreed to cut output by 1.2 million bpd from January 2017 to support prices. 
    The ministry said in a separate statement that Allaibi Angolan oil company Sonangol invited to start work in the fields of Qayyarah and star oilfields in northern Iraq by the end of February.

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