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Iraq Says June Oil Exports Fall; Pipeline Sabotage Cited

Iraq Says June Oil Exports Fall; Pipeline Sabotage Cited
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Δευ, 2 Ιουλίου 2012 - 17:56
Iraq's crude oil exports in June fell 2% on-month after sabotage to a pipeline cut shipments of its crude from the northern Kirkuk fields.
Iraq 's crude oil exports in June fell 2% on-month after sabotage to a pipeline cut shipments of its crude from the northern Kirkuk fields.

Iraq exported 2.403 million barrels of crude a day in June, from 2.452 million barrels a day in May, according to an Iraqi Oil Ministry spokesman, with Kirkuk crude sales falling to 318,000 barrels a day from 366,000 barrels a day in May.

The decrease was due to an act of sabotage against pipelines and producing wells in the Bai Hassan oil field, people familiar with the situation said.

Basra light crude exports, which are exported from the south of the country, flowed at 2.085 million barrels a day in June, down from 2.086 million barrels a day in May.

Crude exports from southern oil fields have been picking up over the last few months since two Single Point Mooring buoys began operating in the Gulf.

Ministry spokesman Assem Jihad said that the exports earned Iraq some $6.453 billion in June, compared with $7.831 billion in May--a slide of 17.6% due mainly to falling oil prices.

Iraq sold its oil at an average $90 a barrel in June, compared with an average $103.039 a barrel in May, Jihad told Dow Jones Newswires.

Iraq plans to boost its crude-oil exports to 2.6 million barrels a day by the end of this year.

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