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Iraq Says Oil Exports Reach 2.6 million bpd Despite Strait of Hormuz Challenges

Iraq Says Oil Exports Reach 2.6 million bpd Despite Strait of Hormuz Challenges
Economy
An Iraqi worker operates valves in Nihran Bin Omar field north of Basra, Iraq, on Jan. 12, 2017. (Photo: AP)
An Iraqi worker operates valves in Nihran Bin Omar field north of Basra, Iraq, on Jan. 12, 2017. (Photo: AP)
Kurdistan Salim al-Rukabi Iraqi oil exports

ERBIL () — Iraq’s oil refineries are operating at full capacity, while the country’s crude oil exports have reached around 2.6 million barrels per day despite challenges linked to the situation in the Strait of Hormuz, an Oil Ministry spokesperson said Sunday.

Oil Ministry spokesperson Salim al-Rukabi told the Iraqi News Agency (INA) that Iraq’s southern exports average around 2.4 million barrels per day, while northern exports stand at about 200,000 barrels per day.

He said the largest share of Iraq’s crude exports passes through the country’s southern ports, which have been affected by the turmoil in the Strait of Hormuz. The remaining volumes are transported through other routes via Türkiye and Syria.

Regarding domestic fuel supplies, al-Rukabi said the ministry has contracted to import mid-grade gasoline and gas to meet local demand. The contracted quantities average between 4,000 and 5,000 cubic meters per day and are supplied depending on import availability.

He added that contracts for gasoline and gas imports had been signed several months ago, with daily supplies maintained at previously agreed levels to cover the gap between domestic production and consumption.

Al-Rukabi said Iraq’s refineries are currently operating at full capacity, while a strategic plan is being implemented to expand national refining capacity, particularly through the development of the Diwaniyah and Maysan refineries.

On crude sales, he said the State Organization for Marketing of Oil (SOMO) sells Iraqi crude from the country’s ports at the best available prices based on a fixed discount. Negotiations with buyers are also underway to increase the prices offered for Iraqi crude.

 
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