Iraq to Boost Kirkuk Crude Exports for April by 20%

Source: Bloomberg 3/27/2012, Location: Middle East

Iraq plans to increase its daily exports of Kirkuk crude for April from the Turkish port of Ceyhan by 20 percent from this month, according to a loading program obtained by Bloomberg News. A total of 24 cargoes of the blend are expected to be shipped next month, amounting to 15.3 million barrels or 510,000 barrels a day, the schedule showed. This compares with plans for 21 consignments totaling 425,484 barrels a day for March.

Kirkuk shipments from Ceyhan in the Mediterranean Sea were halted nine times since the end of November because of technical reasons, bad weather or explosions, the Iraqi Oil Ministry said in a statement on Feb. 14.

As a result, exports from the port were less than that scheduled. In January 17 cargoes of the crude totaling 387,677 barrels a day were shipped compared with a planned 447,742 barrels, according to shipping reports obtained by Bloomberg.

Exports dropped to 369,447 barrels a day in February, compared with 448,276 barrels in the original shipping schedule, the reports showed.

Loading programs are monthly schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.


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