UPDATE: KRG’s June oil exports fall on pipeline outage
First pipeline problem in over two months causes throughput to drop, but Kurdistan looks ahead to production hikes the rest of the year.
Oil tanks at Turkey's Mediterranean port of Ceyhan, which is run by state-owned Petroleum Pipeline Corporation (BOTAS). (UMIT BEKTAS/Reuters)
Key updates:
- KRG releases monthly summary showing exports at 514,236 bpd
- 500,000 bpd of pipeline exports supplemented by 429,824 barrels from storage
- KRG realized average gross sales price $36.43, compared to monthly Brent average of $49.93
- New MNR report format removes tanker loading and payment data
ERBIL - Oil sent from Kurdistan to the Turkish port of Ceyhan slipped month-on-month in June because of two days of pipeline outages, though overall loadings slightly increased as authorities dipped into storage.
The Kurdistan Regional Government (KRG) exported a total of 15.06 million barrels to Ceyhan in June, an average of 502,100 barrels per day (bpd), according to export data obtained by Iraq Oil Report.
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