Iraq's bid to boost oil export capacity at its Gulf ports has suffered a setback due to delays in pumping station upgrades, an Iraqi oil source said.
OPEC's second-largest oil producer aims to raise operational export capacity in Basra to 3.45 million barrels per day from 3.3 million bpd.
The delay to its original plan stems from a lag in obtaining necessary approvals and in finalising tenders for the upgrade work, an Iraqi oil representative said.State-owned Basra Oil Co had planned to install new pumping stations at Iraq’s Gulf ports to reach export capacity of 3.45 million bpd in the second quarter.BOC now expects to increase southern export capacity to 3.35 million bpd in August and reach 3.45 million bpd by September.
Iraq’s crude exports from Basra averaged 3.27 million bpd in June, and 3.24 million bpd in the second quarter, according to Iraq's State Oil Marketing Organisation . Government figures show the country’s crude output has risen largely in line with its quota under the OPEC+ agreement among oil producing countries.
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