(MENAFN) Iraq's oil exports are registering an increase in December toward a record high, as OPEC's second-largest producer pumps more oil despite the decline in oil prices, which resulted in them reaching their five-year low, Arab News reported.
According to the data for the first three weeks of December, exports from Iraq's southern terminals, which produce bulk of Iraq's oil, have averaged at least 2.60 million barrels per day (bpd)
In addition to the south region's production, an increase was also registered in the production of the Kurdistan region after reaching an initial agreement with the Iraqi government, allowing them to resume production and export it through their lines.
Iraq's State Oil Marketing Organization (SOMO), which has been exporting about 180.000 bpd of Kirkuk so far in December, said that with the addition of the Kirkuk oil, the pipeline exports of Iraq's main crudes have reached to around 2.78 million bpd, close to the 2.80 million bpd record high posted in February.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.