Iraqi oil shipments surge by 70% in August

An oil export terminal in southern Iraq. Photo: Oil Ministry Baghdad (IraqiNews.com) – Two Iraqi energy officials told Reuters that Iraqi oil exports surged by more than 70 percent to around 2.34 million barrels per day in August, compared to approximately 1.35 million barrels per day in July. The officials explained that the arrival of more oil tankers at southern Iraqi export terminals and the loading of crude oil led to an increase in shipments during August. The spokesperson for the Iraqi Oil Ministry, Salim al-Rikabi, said on Tuesday that the country’s crude oil exports through its southern marine outlets, which link to the Strait of Hormuz, fluctuated between two million and 2.2 million barrels per day in August. The ministry stressed that these outlets are the major conduit for Iraqi oil exports and a vital part of the national export system. As part of its attempts to increase the flexibility of the oil export system and minimize dependency on a single route, al-Rikabi stated that the ministry is supporting and developing various alternative export outlets through northern and western Iraq. Al-Rikabi emphasized that Iraqi oil flows to the Turkish port of Ceyhan are continuing with volumes ranging between 150,000 and 180,000 barrels per day. Advanced steps are being taken to explore the possibility of increasing oil exports through the Syrian port of Baniyas, according to al-Rikabi. This initiative would offer Iraq an additional outlet to the Mediterranean Sea.