Iraq postpones oil shipments and halts oil pumping from the north
Iraq, Economics, 5/28/2005

Oil sources said that the Iraqi oil marketing establishment SOMO notified some of oil buyers within delayed contracts of postponing shipments which were scheduled to be loaded by the end of June from al-Basra for a period between 10 to 11 days.

A source from buyers, according to delayed contracts said he received an official notification from SOMO to postponing the loading of the shipment.

The sources indicated that the shipments which were due to be loaded in the last ten days of June will be postponed until the first ten days of July.

At least, two of the buyers received notification on postponement of the shipment but other said they have not received official notifications from SOMO on changes in their shipments timing.

Naval data said that oil exports from Basra reached so far 1.36 million barrels daily receding from 1.43 million barrels in April. On the other hand, Iraq stopped oil pumping from its northern oil fields to the Turkish Jeihan port on the Mediterranean. But no reasons were disclosed for that.

Iraq had resumed oil pumping in the pipelines on May 11 but one explosion halted the exports once again and this made oil flow frequent and irregular.

Previous Stories:
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