Basra Oil Company reveals plans to increase exports

Basra - INA

 The Basra Oil Company announced the volume of its exports through oil ports in April, while it revealed plans to increase storage and exports.

The director of the Basra Oil Company, Khaled Hamza Al-Shara, told the Iraqi News Agency (INA) that "the rate of total crude oil exports for the month of April from Basra oil ports is stable at two million 700 thousand standard barrels per day," indicating that "oil production will continue at this declared level according to 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," pointing out that "the recent agreement of OPEC imposed on member states a reduction percentage to control the market balance, and the supply resulting from the increase in production and the collapse of global demand as a result of the repercussions of the Corona virus on Economies of productive and industrialized countries. "

He pointed out that "the Ministry of Oil has undertaken to maintain, rehabilitate and increase the capacities of the storage and export system at the oil sites and ports to absorb the available quantities extracted from crude oil from the oil licensing fields in West Qurna, Rumaila, Zubair and the national effort, including the fields of Nahran Omar, Artawi and Al-Lahis."