To Innovation - Breaking Politics, Economics, Crypto & IT News

learn more
Reporting from Watford, UK and LA, US since 1996
learn more




TOP STORIES
Zuckerberg discussed "TikTok danger" during private dinner with Trump

Facebook spokesman says that Zuckerberg 'cannot remember' discussing the issue of TikTok wit...



Iraq expects its October exports to rise by 23,000 bpd



Experts suppose that Iraq may nominate volumes close to capacity so as to avoid high demurrage costs.



13.Sep.16 3:32 PM
By Alesya Davydova
Photo Toinnov.com

   236

Iraq expects its October exports to rise by 23,000 bpd

Iraqi State Oil Marketing Company (SOMO) expects its October exports from the main southern Gulf terminals will rise up to 23,000 bpd from the September export plans, reaching an average of 3.28 million barrels per day, Platts reports citing official SOMO tanker nomination figures.

The loading plans for September and next months are close to the average yearly export volumes of approximately 3.25 million barrels per day. Platts experts suppose that this may mean that SOMO is trying to nominate volumes close to capacity so as to avoid high demurrage costs. Such a situation was recorded in June and July.

At the end of August, Iraq showed its probable support to an OPEC output freeze deal at the meeting, which is to take place in Algiers later this month. “We support freezing oil production by OPEC due to the sharp decline of oil prices,” Iraq’s Prime Minister Haider al-Abadi said at a news conference on August 30.

“Our government supported the freeze and we have to support the freeze. We have the capacity to produce more. But if the freeze is for a certain period and will stabilize the market, definitely the freeze is in our favor,” Al-Amri said in interview with Reuters last week.




Back to the list


Related Information: