Iraq plans to export 3.63 million barrels and raises the price of Basra crude



2016/01/13

BAGHDAD / Ibrahim Ibrahim - the long-Presse
Wood Group announced the company Wood Group for the Scottish oil and gas production, won the contract to secondary granted him by one of the international oil companies operating in Iraq. And as pointed out that the contract runs for three years and $ 90 million, sources in the oil sector confirmed that Iraq plans to export about 3.63 million barrels of oil per day from oil harbors in the south in February, based on an initial program load.
The company said in a statement, received a (long-Presse) a copy of it, she "won a secondary granted him by one of the international oil companies operating in Iraq worth $ 90 million to under which provision of administrative services for a petroleum project tasks over three years, with implementation to begin immediately.
The company said according to the statement that "This contract reinforces our partnership with our customers in Iraq, where we seek to continue to achieve successes and development in the oil fields run by our customers from international companies."
She pointed out that "Iraq is an important attraction for foreign investment and an opportunity to develop local skills to create jobs and build business relationships in Iraq."
Meanwhile, sources in the oil sector, said, on Tuesday, said that Iraq plans to export about 3.63 million barrels of oil per day from oil harbors in the south in February, based on an initial program load.
The skips the initial volume of exports February, who increased eight percent from the record level this Alchehr- which were exported in November, which is 3.365 million barrels per day.
And it intends to Iraqi Oil Marketing Company (SOMO) allocating more crude that can supplied with enough storage space does not have to keep the surplus if the oil production for the volume of exports has increased, could not communicate with the Sumo immediately for comment. It is expected to lead Basra crude heavy increase in exports in February, where the volume of crude may produce heavier 959 thousand barrels per day, according to the sources, up from 750 thousand barrels per day in January of this.
The sources said the likely export about 2.67 million barrels per day of Basra light crude in February, little changed from the January change.
The Iraqi Oil Marketing Company (SOMO), said on Monday (11 / December / 2016) that Iraq raise the official selling shipments of February, the price of Basra Light crude destined to Asia by $ 0.65 to reach average Khami the Sultanate of Oman and Dubai, less price 2.80 dollars a barrel, compared with the previous month.
SOMO said in a statement seen by the "long", "The price of Basra crude heavy sets for the same month a discount of 7.30 dollars per barrel average for Oman and Dubai crude."
The statement added that "determine the price of February shipments of Basra Light crude to North and South America markets at Argus index High crude sulfur minus $ 0.95 a barrel, down from the previous month while selling Kirkuk crude price went down to the United States to record an increase of $ 0.20 a barrel above The index ", adding that" shipments bound for Europe revealed the price of Basra light crude up $ 0.30 to Brent price less US $ 5.05 a barrel, while the price of February shipments of Kirkuk crude settled unchanged at Brent minus $ 4.65 a barrel. "

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