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Oil Launches Next Week New Export System in the Port of Basra Times

January 20, 2012

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And coffee go to Iran to discuss the implications of the Strait of Hormuz

Baghdad on a conciliator is scheduled to leave the oil minister, Abdul Karim and coffee on Thursday to Iran to discuss bilateral relations between the two sides and raised the threat of closure of the Strait of Hormuz, while proceed with the oil ministry next week to export crude through the new system in the port Basra oil.

He and coffee in a press conference held by the ministry yesterday that his visit to the Islamic Republic today, the two axes, the first bilateral relations between the two sides, since the Ministry has many common interests in the oil sector, in addition to talk about the threats by Iran to close a host of Hormuz, indicating the importance of ensuring the protection of waterways and the extraction and production of crude oil and exporting it, adding that OPEC, which is chaired by the Minister, is keen on the stability of oil markets and prices.

He added that the organization is not with the use of the oil card in the political side, being a good mission and strategy and is affected by the economy the world directly, noting that OPEC decided at its last meeting to give a space in production to ensure the processing of sufficient quantities to contribute to the stability of the market.

He Laibi the Angels ministry carried out an effort exploration in the area Aldemh in the province of Maysan, and resulted in the discovery and described as significant too is for the first time in 30 years In the first configuration, a light oil, pointing out that the ministry is continuing the excavation and testing in that area and it is hoped the discovery of more oil stocks.

He pointed out that the ministry will launch in the twenty-fifth of this month, the project raised export capacities, which is the most important in the country through the system, new export starting from warehouses Zubair 2, Zubair 1, and then to the FAO through the pipeline with a length to 135 kilometers, indicating that the ministry will start pumping oil in the pipeline to pay for the water in it for five days and then begin the process of pumping and export of oil through it.

The minister said that Iraq was pumping oil card 1.7 million barrels through the port current, indicating that this figure exceeds the design capacity of these ports amounting to 1.6 million barrels to limit significantly the export of additional quantities of oil, but he stressed that this increase Stamnha new system.

He added that the system The new implemented an amount exceeding one billion dollars and includes construction of three pipelines freely length of 60 km starting from the Ra’s al the direction of FAO to three buoys ability, each 850 thousand barrels per day, pointing out that the implementation of the entire project will raise the export capacity of the southern ports to five million barrels a day.

He said the flaw that the ministry has over the years of 2004 and down to the last year of reducing the gap between the rates of consumption of petroleum products and production of a gas, liquid and gas oil and gasoline, in addition to raising exports to more than two million barrels per day during the last year and exceeded the rates of production two million five hundred thousand barrels per day?.

(Source)