Iraq oil exports fall ("bad weather" in Basra)

[Barrett808]

Iraqi oil exports in March fell around 30,000 barrels per day from February as bad weather delayed loadings in Basra, shipping sources said.

Reuters data showed average exports for the month were 1.34 million bpd, down from 1.37 million bpd in February.

Bad weather at the Basra oil terminal in the country's south temporarily halted exports toward the end of the month.

Supplies from Iraq's northern fields were again idled for the month, shipping agents said. Northern exports have been mostly cut due to sabotage since the US-led invasion in 2003.

Iraq needs a further eight to 12 months before it can resume exports from the north, the country's Oil Minister Hashem Al Hashemi said last month.

In December, exports fell to 1.08 million bpd, the lowest since the resumption of shipments after the war in Iraq in 2003.

http://www.tradearabia.com/tanews/newsdetails_snOGN_article103273_cnt.html

[Gloria]

1. Well, the corrupt oil officials will have less to skim profits

off the top now....posted an article recently from Azzaman in Iraq, an English language paper, that reported that oil was being sold at a discount, which led analysts to believe that there was a whole lot of tampering, ie corrupt Oil Ministry officials. This at a time when Iraq is importing oil. On top of that, they've run out of money to pay for imported oil, so analysts expect a lot more unrest based on fuel shortages and high prices within the country....

[stillcool]

5. I remember reading right before their elections...

that the oil contracts would be signed as soon as there was a legit government. The article went on to say, that the contracts were not so good for the Iraqi's but would bring mega-profits to the international oil co.'s, because the Iraqi's would be forfeiting their national ownership of the oil to have the oil/pipeline/infrastructure rebuilt But since that article....Nothing. However, one other thing was mentioned at that same time.....Bush came out with a statement that he would not ask congress for any more money for Iraq 'reconstruction'.

[gratuitous]

2. So that's why . . .

Gas prices around here have jumped 40 or 50 cents per gallon. Bad weather in Basra. Well, now I know. Glad it's not because the oil companies are fixing to announce another year of record earnings while the peons take out a second mortgage or work a third job to fill up the tank.

[mike_c]

3. "it's a hard rain's a'gonna fall...."

That's the bad weather in Basra.

[n2doc]

4. It's raining Men in Basra

or perhaps, mortar rounds....

I swear there was something in the press recently about how Iraq's exports had reached prewar levels. Guess not.