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Iraq To Operate New Sea Export Terminal Friday

Iraq is planning to operate the first of four new export floating terminals at the port of Basra in southern Iraq Friday, Jan. 27, the oil ministry said in an emailed statement Monday.
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Τρι, 24 Ιανουαρίου 2012 - 18:56
Iraq is planning to operate the first of four new export floating terminals at the port of Basra in southern Iraq Friday, Jan. 27, the oil ministry said in an emailed statement Monday.

The Iraqi oil minister Abdul Kareem Luaiby said last week that inauguration of the single-point mooring, or SPM, buoy would take place on Jan. 25. The delay was because Luaiby is currently in Iran for an official visit to urge Tehran not to close the Strait of Hormuz , oil ministry officials said.

The ministry has invited journalists to attend the inauguration ceremony which will take place at the SPM Friday.

Luaiby then said, five to six days after the inauguration, vessels will start loading from the SPM with a capacity of 850,000 barrels a day.

The new SPM is one of four buoys the ministry is planning to install in the Gulf by 2013 bringing total export capacity from southern terminals to 5 million barrels a day from 1.75 million barrels a day currently, the officials said.

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