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CRUDE PRODUCTION UP

Iraq sees Kirkuk exports at record high

Baghdad, October 24, 2012

Iraqi exports of medium sour Kirkuk crude oil are set to rise to 484,000 barrels per day (bpd) in November, a preliminary loading programme showed on Wednesday, the highest in over a year.

Exports were nearly 550,000 bpd in June 2011, according to official Iraqi data, as new crude production from the Kurdish region was added to the stream from the start of that year.

Kirkuk exports have been steadily recovering since September after hitting a multi-year low in August. The KRG announced it would cut exports completely in April owing to a payment dispute between the Kurdish Regional Government (KRG) and the central Baghdad government.

But while the KRG has restarted exports through the Kirkuk stream, tensions with Baghdad continue to be strained over upstream exploration licensing and lately by the KRG's start of independent oil exports.-Reuters




Tags: Exports | Iraq | Kirkuk | oil production |

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