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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: DMaA who wrote (256557)	7/2/2008 9:22:28 AM
From: Triffin	Respond to of 793933

When do we get some ?? We're getting some now .. Isn't payback grand ?? I'm sure we'll get the same 10 year cheap oil deal from Iraq that we enjoyed from liberating Kuwait .. ======================================================== Iraq's crude exports reach post-war high Iraq exported more than 2 million b/d of crude oil during May, passing the 2 million b/d level for the first time since the 2003 US-led invasion of Iraq, according to Iraqi Oil Ministry figures. According to the figures obtained by Platts, Iraq's crude exports in May averaged 2.011 million b/d, the highest level since the 2003 invasion and 109,000 b/d higher than in April. Exports from Iraq's northern fields were 444,000 b/d in May, compared with 442,000 b/d in April, while exports from the country's southern oil fields rose to 1.567 million b/d compared to 1.46 million b/d in April. Total Iraqi production in May was 2.528 million b/d, 62,000 b/d higher than in April and the highest rate since September 2004. Exports from the Turkish Mediterranean terminal of Ceyhan, which moves Iraqi crude from the northern fields, totaled 13.757 million barrels in May, as 13 crude tankers were loaded with 11.542 million barrels from the port and 2.215 million barrels were supplied by pipeline to the Turkish refinery at Karikala, according to the Iraqi data. Crude loadings from Iraq's Basrah terminal in the Persian Gulf totaled 48.563 million barrels, lifted by 29 tankers. Production from Iraq's northern fields in May was 633,000 b/d, a level slightly lower than the April rate of 641,000 b/d, which was the post-invasion record. Output from Iraq's northern fields has been rising since September 2007, the result of measures taken to protect pipelines, including the export lines to Turkey, by the establishment of pipeline exclusion zones along the routes as well as engaging local Sunni tribes to protect the conduits as part of the so-called "tribal awakening" scheme. That effort has generally resulted in improved security in the central and northern areas of Iraq. The official ministry figures also showed production from Iraq's southern fields has risen to 1.895 million b/d, up 70,000 b/d from April. The boost was due to the recommissioning of the pipeline that transports Meessan field crude to Basrah storage. The line was damaged by an insurgent attack March 25 during the fighting in Basrah between Iraqi government forces and the Mahdi Army. Crude supply to domestic refineries and power stations in May was 226,000 b/d from the northern fields compared with 205,000 b/d in April, and 258,000 b/d from the southern fields compared with 276,000 b/d in the prior month. The higher supply occured despite the continued shutdown of a 70,000 b/d processing line in the Basrah refinery due to a major fire that occurred in early January. The volume of unaccounted for oil production in the south during May, which is obtained by subtracting the total of exports and domestic supplies from the total production figure and adjusting for the increase in the local stocks level, appeared to be 61,000 b/d, down from 86,000 b/d in April. The presence of the unaccounted for oil in the ministry's figures has fueled allegations of widespread corruption and smuggling within the Iraqi oil industry. platts.com Triff ..