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December Oil Exports of Iraq Down 11% On Month


08 Jan 2013
The crude oil exports of Iraq in the month December dropped by 11 % due to the bad weather in southern oil export terminals and suspension of exports from the Kurdistan region in northern Iraq, people familiar with the State Oil Marketing Organization (SOMO), said on Monday. The crude exports fell off to 2.348 million barrels a day, from 2.620 million barrels a day in November, according to the people. One citizen expressed that they added Iraq exported 2.023 million barrels a day from the southern oil fields of the country in December, compared with 2.194 million barrels a day in November. 314,000 barrels per day were exported from northern oil fields to the Mediterranean port of Ceyhan in Turkey in December, in comparison with 416,000 barrels per day in the month of November. Another 11,000 barrels a day were transported by tuck to Jordan in December, the people stated. According to another person, northern oil exports were reduced in December, 2012 because the Kurdistan Regional Government suspended their oil exports of nearly 90,000 barrels a day. The Kurds people have postponed exports due to payments the central government requires to make to producing companies in the Kurdistan region. A government official in Baghdad stated in the last week, that the payments of 350 billion Iraqi dinars ($ 296.6 million) were withheld by the federal government, because the northern region had failed to export the agreed amount of oil. Source: [Fox Business]
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