Bloomberg News

Iraq to Boost Basrah Light Exports for Second Half of May

May 17, 2012

Iraq will increase its daily exports of Basrah Light crude from the Persian Gulf by 20 percent in the second half of May from a month earlier, a loading program obtained by Bloomberg News showed.

The Gulf state will ship 26 cargoes from the Basrah Oil Terminal, seven more than a month earlier, the plan showed. Exports will total 40.43 million barrels, or 2.53 million barrels a day, compared with 2.1 million a day in the second half of April.

The program comprises 15 consignments of 2 million barrels each, nine 1 million-barrel lots and two shipments of 715,000 barrels.

Iraq started operating a second offshore mooring facility for crude exports from the Persian Gulf on April 20. The new single-point unit with the capacity to handle 900,000 barrels a day is the second of four planned.

A third mooring facility will be ready “within a few months” and would be used if exports increase, Dhia Jaafar, director general of Southern Oil Co., said on April 20. Deputy Prime Minister for Energy Affairs Hussain al-Shahristani said in December that a fourth unit will be in place next year.

Loading programs are schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.

To contact the reporter on this story: Sherry Su in London at lsu23@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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