Iraq boosts oil exports

Iraq_exportsIraq's oil exports rose by 10,000 bpd in December 2011 to 2.145mn bpd, up from 2.135mn bpd in November, according to new data from the State Oil Marketing Organization (SOMO).

Oil exports

The data was obtained by Platts, with the figures showing that Iraq's oil exports increased by 273,000 bpd in 2011 to average 2.165mn bpd, up from 1.892mn bpd in 2010.

The latest SOMO figures show oil exports from northern Iraq slipping by 11,000 bpd in December, to 412,000 bpd from 423,000 bpd in November. Oil exports from southern terminals rose by 21,000 bpd in December to 1.733mn bpd from 1.712mn bpd in November.

Crude oil production

Although oil export from Iraq has increased, the level of crude oil production has in fact gone down in 2011. The latest data indicates that the country's oil production fell by 13,000 bpd in December, to 2.652mn bpd from 2.665mn bpd in November.

Crude oil production from northern Iraq is estimated to have fallen by 55,000 bpd in December, to 677,000 bpd from 732,000 bpd in November while production from Iraq's southern oil fields was estimated to have risen by 42,000 bpd in December, to 1.975mn bpd from 1.933mn bpd in November, after similar adjustments to the export figures.

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