Basrah- State Co for Oil Projects (SCOP) is forging ahead with the reconstruction of the Al-Fao crude oil tank farm to bring it back to its old glory of the 1970’s. It was in 1976, just as Iraq nationalized its oil industry, that construction of the 16-tank complex was completed in order to cater for the big increase in oil production and export capacity that Iraq seemed destined for at…
Tag: oil exports
KRG & Oil Ministry Contracts: A Comparison
Kamil Al-Mehaidy: KRG & Oil Ministry Contracts: A Comparison (in Arabic) كامل المهيدي: قراءة في عقود أقليم كردستان النفطية
Pumping Up Exports
ConocoPhilips today became the first lifter to load Iraqi crude from the newly opened SPM (single point mooring) in the Mideast Gulf. The new loading facility is now officially open, offering up to 500,000 b/d of export capacity on top of the 1.8 million b/d available at Basrah Oil Terminal and Khor al-Amaya Terminal. That’s more than enough to absorb the idle production capacity currently available in southern Iraq. The…
2012 Production Challenge
Iraqi oil production has been slowly, but steadily, ramping up in the last three years, from an average of 2.336 million b/d in 2009 to 2.358 million b/d in 2010, to an average of 2.66 for the first eight months of this year, according to oil ministry official figures. With this, exports have also risen by almost 300,000 b/d, from a 2009 average of 1.9 million b/d in 2009 to…