Iraq’s State Marketing Organization announced on December 5, 2010 that the country’s exports barely inched up in November. Last month Iraq exported an average of 1.912 million barrels a day, up from 1.900 million barrels a day in October. Both of those amounts were down from September when the country reached 2.00 million barrels.
The very modest increase in November was despite international energy companies beginning to work in Iraq. Italy’s Eni for example, said that it had raised oil production at the Zubayr field from 183,000 barrels a day to 201,000 barrels in December. Back in October, Shell claimed output at the Majnoon field had risen to 70,000 barrels a day, up from 45,000 barrels. British Petroleum and China National Petroleum Corporation were also supposed to have boosted production at the Rumaila field by 100,000 barrels during this period. It appears that despite this new work there has been no noticeable change in Iraq’s exports. It may be several more months than before the effect of these foreign corporations are really felt in Iraq.
Iraq Oil Exports Nov. 09 - Nov. 10 (Avg. Million Barrels Per Day)
Bureau of Near Eastern Affairs, “Iraq Status Report,” U.S. Department of State, 11/3/10
Cummins, Chip, “Iraq’s Oil Patch Opens the Spigot,” Wall Street Journal, 11/11/10
Davis, Andrew, “Eni, Partners Reaches Key Production Target at Zubair Oil Field in Iraq,” Bloomberg, 12/5/10
Reuters, “Iraq oil exports rise in Nov. to 1.912 mln bpd-SOMO,” 12/5/10