Iraq ups crude export capacity

Iraq

BAGHDAD, October 30, 2017 – Iraq has brought on stream a new floating oil terminal in the Gulf, increasing the export capacity of its southern ports by about 25% to 4.6 million bopd, the country’s oil ministry said on Sunday.

“Oil export capacity has reached unprecedented levels after adding a new single point mooring with an additional export capacity of 900,000 bopd,” the statement read.

The news came days after Iraq increased crude exports from the Basra region in the south by 200,000 bopd after violence curtailed output at fields near Kirkuk in the north, Reuters reported.

On Friday, Kurdish and Iraqi pro-government forces which had fought battles as Baghdad took over Kirkuk and other disputed areas announced a ceasefire.

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