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Tuesday, December 12, 2017

Iraqi oil production remains at 2 mbd - IEA

According to the International Energy Agency (IEA), Iraqi oil production reached 2 mbd in January 2004. Progress in the seven months to November 2003 was rapid with production increasing by on average 0.25 mbd per month. Since then this supply has levelled off as domestic and export outlets for crude hit bottlenecks. In the north, local refinery operations remain disrupted and pipeline routes are prone to security breaches. Southern oil production rose to an estimated 1.84 mbd in January, but its sustainability will depend on successful reactivation of water injection facilities. Thereafter, any substantial increase in southern production awaits an expansion of (or diversification from) what is currently the sole operating export terminal, at Basrah. According to PIW 23 February 2004, Iraqi crude oil exports totalled 1.6 mbd in January. Earlier plans to hit 2.8 mbd of oil production by April, including 0.7 mbd of northern Kirkuk crude, now look overly ambitious, according to the IEA. In December 1979 Iraqi crude oil production totalled 3.7 mbd while in recent years the peak was 3 mbd in August 2000.

Click here to view development in Iraqi oil production on the INTERTANKO web site.