Gulf Oil and Gas accountACCOUNT

Maintenance at Basra Terminals Leads to Some Delays

Source: Reuters 12/18/2015, Location: Middle East

Maintenance work taking place at loading terminals in Iraq's key southern oil hub of Basra is leading to some shipment delays, a trade source familiar with the matter said.

Iraq, OPEC's second largest producer, plans to export about 3.4 million barrels per day of Basra crude from its southern oil terminals in January, up 17.2 percent from the previous month, trade sources said earlier this week, citing a preliminary loading programme.

"It is a maintenance of two to three days at the SPMs (single point mooring terminals) only," the source familiar with the matter said, referring to the loading zones. "Delays in loading should not take longer to get resolved.

A separate trade source pointed to a build up of tankers. Ship tracking data on Thomson Reuters Eikon showed at least 15 tankers were anchored around various loading terminals in Basra - some waiting for days.

In November, shipping and port sources, pointing to full onshore storage, said up to 20 supertankers were held up in Basra, with vessels experiencing loading delays of up to 12 days.

The bottlenecks, which included Iraq, helped freight rates to spike in recent weeks to more than $110,000 a day, their highest level since 2008.

"We expect crude oil exports out of Basra to remain firm going forward ... and support crude tanker earnings," Arctic Securities analyst Erik Nikolai Stavseth said this week.

Oil News in Iraq >>

Oman >>  10/22/2019 - Petrofac will provide FEED and conceptualisation studies to clients in Oman and Libya following the award of a clutch of new contracts. ...
United Arab Emirates >>  10/15/2019 - The Abu Dhabi Government and the Abu Dhabi National Oil Company (ADNOC) have awarded to a subsidiary of the Russian listed PJSC Lukoil Oil Company (LU...

Saudi Arabia >>  10/14/2019 - Saudi Aramco President & CEO Amin H. Nasser today attended the Saudi - Russian CEO Forum hosted in Riyadh as part of the state visit of the Russian Pr...
Kuwait >>  10/10/2019 - Fluor Corporation (FLR) announced that its joint venture COOEC-Fluor Heavy Industries, Co., Ltd. (COOEC-Fluor) fabrication yard in Zhuhai, China, has ...

Qatar >>  10/10/2019 - International specialist equipment and integrated engineering services company, Sparrows Group, has been awarded its first contract with Qatar Petrole...
Iraq >>  10/8/2019 - Weatherford International has been awarded two fully integrated rig contracts and one well services (through-tubing intervention) contract with a mult...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 

Iraq Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.