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Iraq is implementing plans to increase the capabilities of the oil storage system
The information / Baghdad ..
The Basra Oil Company announced that it has begun implementing plans for maintenance, rehabilitation and increasing the capacities of the storage and export system at oil sites and ports, while confirming the continuation of understandings with the Kuwaiti side to invest in joint fields.
The director of the company, Khaled Hamza Al-Shara, said in a statement reported by Al-Sabah newspaper, which was reviewed by the information, that “The Ministry of Oil has undertaken the maintenance, rehabilitation and increase of the storage and export capacities of the oil sites and ports to accommodate the available quantities extracted from crude oil from the oil licensing fields in West Qurna and Rumaila. Al-Zubayr and the national effort, including the fields of Nahran Omar, Artawi and Al-Lahis.
Al-Shara pointed out that "the rate of total crude oil exports for the month of April from the Basra oil ports is stable at two million and 700 thousand standard barrels per day," indicating that "oil production will continue at this declared level in accordance with ministerial instructions under the OPEC Plus agreement."
He explained that "the rate of crude oil production in the Basra fields currently touches 2 million and 570 thousand barrels," noting that "the recent agreement of OPEC imposed on member states a reduction rate to control the market balance, and the supply resulting from increased production and the collapse of global demand as a result of the repercussions of the Corona virus on economies Producing and industrialized countries ”.
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