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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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    A technical problem impeding an Iraqi oil project

    Rocky
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    A technical problem impeding an Iraqi oil project Empty A technical problem impeding an Iraqi oil project

    Post by Rocky Fri 16 Mar 2018, 3:21 am

    [size=32]
    A technical problem impeding an Iraqi oil project[/size]
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    Iraq is studying plans to export Basra's new medium crude to address quality concerns in light and heavy crude, but faces infrastructure-related constraints, sources in the oil sector said. 
    However, commercial sources have ruled out such a move this year because of the need to build a new pipeline and other infrastructure facilities. 
    "Basrah ore is an option. But we are not logistically prepared, "he said, adding that there was a need for a maritime pipeline and additional storage facilities to meet new crude shipment requirements. 
    Iraq, which sells more than half of its oil to Asia, has decided to split its supplies into two types of crude in 2015 in an attempt to solve quality problems. Basra's heavy crude oil produced from the southern oil fields was presented separately from Basra's conventional light crude.
    This shift by the Iraqi Oil Marketing Company (SOMO) has been widely supported by crude buyers who had previously had to deal with different quality grades for a mixture of Basra light and heavy sulfur ore produced from newer fields. 
    The sale of Basra's heavy crude and Basrah Light crude separately boosted buyers' confidence in quality and reduced the time spent by ships waiting for the arrival of various raw materials to the harbors, which was more expensive. 
    But the sources said Basra light crude was in itself a mixture of raw materials produced from different fields, which also led to disparities in the quality of various shipments. 
    Iraq, which relies on oil for most of its budget revenues, seeks to increase its oil production capacity to 7 million bpd by 2022 from the current 5 million bpd. But inadequate infrastructure hampers his plans.
    Iraq, OPEC's second-largest oil producer, has long been planning to build a new offshore pipeline to boost export capacity, but bids and construction have been repeatedly delayed due to lack of funding. 
    Exports of southern Iraq, where most of the country's reserves are located, are vulnerable to interruptions due to adverse weather conditions and are being pumped into two seaports via an old infrastructure. 
    Three oil pipelines are being transported to the ports of Khor al-Amaya and Basra on the Gulf, but the old pipelines do not bear more pressure to boost flows. 
    Iraq exported 3.426 million bpd from the south in February. 
    Reuters



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