Bloomberg News

Iraq to Raise Basrah Light Exports by 14% in First Half of July

June 27, 2012

Iraq will increase its daily exports of Basrah Light crude from the Persian Gulf by 14 percent in the first half of July compared with shipments in the previous two weeks, a loading program obtained by Bloomberg News showed.

The nation will ship 18 cargoes from the Basrah Oil Terminal, unchanged from the second half of this month, according to the plan. Exports will total 32.8 million barrels, or 2.19 million barrels a day, compared with 1.91 million a day two weeks earlier.

The program for the first half of July comprises 13 consignments of 2 million barrels each, two 1.9 million-barrel lots and three 1 million-barrel shipments.

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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