"SOMO" expects that the oil export capacity across the Gulf will rise to 3.35 million barrels per day
Shafaq News/ The Iraqi Oil Marketing Company (SOMO) suggested on Saturday that the oil export capacity across the Gulf would rise to 3.35 million barrels per day, by next September.
“What is currently achievable is 3.3 million barrels per day taking into account not only the restrictions on export capacity, but also rehabilitation activities that may cause a halt,” the company’s deputy general manager, Ali Al Shatari, told S&P Global Commodity Insights Standard & Poor’s. Sometimes,” he said, adding that “this quantity may go up, of course, but I am a bit conservative until I see plans to develop export facilities go ahead.”
Iraq, "the second largest oil producer" in (OPEC), is pumping more crude in line with the (OPEC +) decision to cancel production cuts on July 21.
Al-Shatari explained, "SOMO expects Basra Heavy exports to reach about 1.1 million barrels per day in July, and Basra Medium, about 2.2 million barrels per day."
Iraq exported 1.120 million barrels per day of Basra heavy oil in June and 2.146 million barrels per day of Basra medium, and the total exports of southern oil amounted to 3.266 million barrels per day, according to SOMO figures.
Both grades are exported from Iraq's southern terminals on the Persian Gulf, which have been under expansion for several months but have faced many delays.
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