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Abdul-Mahdi announce the initiation of Basra export two types of heavy oil and light {} in order to avoid losses as a result of the aging of some of the fields
6/1/2015
{Baghdad: Euphrates News} Oil Minister Adel Abdul Mahdi said on Sunday that "The oil ministry will begin on Monday the export of two types of crude oil," Basra light "and" heavy Basra, "in order to avoid losses as a result of the aging of some of the fields.
He said Abdul-Mahdi said in a statement received by the agency {Euphrates News} a copy of it today, "Iraq will start from tomorrow Monday the export of two types of oil," Basra light "and" Basra heavy "and we believe that this step were not only necessary, but are needed to protect the reputation and quality of oil Iraqi, and to protect the production and exports, and reduce the losses and damages incurred by us, a process taking place for the first time for the oil industry in Iraq. "
He said the "{Basra light} is Iraq's historic oil, which is also indicated by the name of light oils that exceed the API {standard US dollars to measure the quality of oil} for 30 points, and when the South was the production of limited fields and for specific depths of the quality of the oil was fixed according to specifications "Basra light" who you know well global companies and refineries. "
And he finished "but after licensing rounds and the expansion of production from the fields specifications vary, and after that Schacht some old fields, and began oil specifications different from what was known historically, we we face serious problems with importing companies for our oil, when the expectation refineries contracts it shall do so in accordance with the specific specifications are consistent with refineries; so we started to receive a lot of complaints, and we were forced to reduce production of quite a few of the fields, was losing double, the first that we need to pay compensation operating companies that we ask it to reduce production, and we lost quantities of oil can be exported, but we are not doing this in order to preserve the quality of "Basra light "
He continued, "A few months ago, in one of the" pricing "monthly sessions discussed the complaints and made the decision to export" Basra heavy "Add" light of Basra ".. but the infrastructure of pipes and tanks and platforms were not allow to carry out the Chapter .. As the global markets have not not know the new oil specifications that we want to put it, we estimated that we will need a full year before the completion of all of these requirements, but officials and workers in the ministry and its companies are determined to do everything possible to get the job done faster than that and has already been allocated, "Brick" repository to receive the "Basra heavy "From the fields that have been produced by pipelines quickly to the reservoirs it has been allocated the necessary platforms for export through it and been sent" samples "to international companies to inspect the product, and we have pricing" Basra heavy ", and sat waiting for requests and the reaction of the markets."
Said Abdul-Mahdi, "and reached the requests were perfect fit for us, and will be for the month of June 850 000 barrels / day, including 150 000 barrels / day, we had Aguettanaha formerly of our production and our exports in order to preserve" Basra light ".. The operation went smoothly and without obstacles remember , as we expect, this step will bring back production rates according to our capabilities, and will return immediately to export all we refrain from export to maintain the quality of the "Basra light" .. this is a great gain .. Thus, we expect to stop a discount to our prices and we have suffered losses, the more varied quality for the contracted specifications, sometimes up to $ 3, which is close to price between "Basra light" and "heavy Bozrah" difference.
And it opened the oil ministry, Sunday, system export heavy oil and that the first of its kind in Iraq are considered in Faw card and export up to 850 000 barrels per day .anthy
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6/1/2015
{Baghdad: Euphrates News} Oil Minister Adel Abdul Mahdi said on Sunday that "The oil ministry will begin on Monday the export of two types of crude oil," Basra light "and" heavy Basra, "in order to avoid losses as a result of the aging of some of the fields.
He said Abdul-Mahdi said in a statement received by the agency {Euphrates News} a copy of it today, "Iraq will start from tomorrow Monday the export of two types of oil," Basra light "and" Basra heavy "and we believe that this step were not only necessary, but are needed to protect the reputation and quality of oil Iraqi, and to protect the production and exports, and reduce the losses and damages incurred by us, a process taking place for the first time for the oil industry in Iraq. "
He said the "{Basra light} is Iraq's historic oil, which is also indicated by the name of light oils that exceed the API {standard US dollars to measure the quality of oil} for 30 points, and when the South was the production of limited fields and for specific depths of the quality of the oil was fixed according to specifications "Basra light" who you know well global companies and refineries. "
And he finished "but after licensing rounds and the expansion of production from the fields specifications vary, and after that Schacht some old fields, and began oil specifications different from what was known historically, we we face serious problems with importing companies for our oil, when the expectation refineries contracts it shall do so in accordance with the specific specifications are consistent with refineries; so we started to receive a lot of complaints, and we were forced to reduce production of quite a few of the fields, was losing double, the first that we need to pay compensation operating companies that we ask it to reduce production, and we lost quantities of oil can be exported, but we are not doing this in order to preserve the quality of "Basra light "
He continued, "A few months ago, in one of the" pricing "monthly sessions discussed the complaints and made the decision to export" Basra heavy "Add" light of Basra ".. but the infrastructure of pipes and tanks and platforms were not allow to carry out the Chapter .. As the global markets have not not know the new oil specifications that we want to put it, we estimated that we will need a full year before the completion of all of these requirements, but officials and workers in the ministry and its companies are determined to do everything possible to get the job done faster than that and has already been allocated, "Brick" repository to receive the "Basra heavy "From the fields that have been produced by pipelines quickly to the reservoirs it has been allocated the necessary platforms for export through it and been sent" samples "to international companies to inspect the product, and we have pricing" Basra heavy ", and sat waiting for requests and the reaction of the markets."
Said Abdul-Mahdi, "and reached the requests were perfect fit for us, and will be for the month of June 850 000 barrels / day, including 150 000 barrels / day, we had Aguettanaha formerly of our production and our exports in order to preserve" Basra light ".. The operation went smoothly and without obstacles remember , as we expect, this step will bring back production rates according to our capabilities, and will return immediately to export all we refrain from export to maintain the quality of the "Basra light" .. this is a great gain .. Thus, we expect to stop a discount to our prices and we have suffered losses, the more varied quality for the contracted specifications, sometimes up to $ 3, which is close to price between "Basra light" and "heavy Bozrah" difference.
And it opened the oil ministry, Sunday, system export heavy oil and that the first of its kind in Iraq are considered in Faw card and export up to 850 000 barrels per day .anthy
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