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Russia 's Lukoil buys the first shipment of Kirkuk crude DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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Russia 's Lukoil buys the first shipment of Kirkuk crude

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Russia 's Lukoil buys the first shipment of Kirkuk crude Empty Russia 's Lukoil buys the first shipment of Kirkuk crude

Post by claud39 on Wed Dec 12, 2018 10:37 am


[size=32]Russia 's Lukoil buys the first shipment of Kirkuk crude[/size]

Russia 's Lukoil buys the first shipment of Kirkuk crude 773x435_business-lukoil-kirkuk-as5-4550356

(Reuters) - The first shipment of Kirkuk crude traded since the resumption of oil pumping last month was sold to Litasco, the Russian-based oil-producing Lukoil's trading arm, according to ship tracking data and a cargo document.

According to data from Revitiv Akon, the tanker Rafa, carrying about 600,000 barrels of Kirkuk oil, left the Turkish port of Ceyhan on Dec. 10 on the way to a Russian company refinery in Italy.

Reuters also took note of the Rafa's loading bill, which confirmed details of the deal.

Litasco is scheduled to receive two more shipments of Kirkuk oil in December, a local freight forwarder said.

Iraq resumed the export of Kirkuk crude in November after the new Iraqi government reached a preliminary agreement with the semi-autonomous Kurdistan region. Crude flows were halted a year ago due to a dispute between the central government and the Erbil government.

The US government has called for a resumption of oil pumping to help address the shortage of Iranian crude in the region after Washington imposed new sanctions on Tehran.

Pumping resumed at a rate of about 50 to 60,000 barrels a day. Before crude oil stopped flowing in October last year, Iraq exported about 300,000 barrels per day of Kirkuk oil through Turkey to world markets. About 185,000 barrels per day were allocated to feed Iraq's refineries.

Last week, Iraq's oil minister said Kirkuk's output was around 400,000 bpd. Oil Ministry officials said about 100 thousand barrels of them heading to the tank owned by Iraq in the port of Ceyhan, Turkey.

Lukoil is one of the most important oil companies operating in Iraq, producing about 400 thousand barrels per day from West Qurna-2 oil field.

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