Federal Iraq’s oil sector enjoyed another record-breaking year in 2019 – no surprises there. Exports averaged 3.527mn b/d over the 12 months, easily surpassing the previous annual record of 3.498mn b/d set in 2018. Of the total, 97% of Iraqi crude was exported from Basra (3.415mn b/d), down 74,000 b/d year-on-year.
2019 was also notable for being the first full year since 2013 of ‘federal’ exports from northern Iraq via the KRG’s export pipeline to Ceyhan, Turkey. Pipeline damage and disputes allowed for inconsistent northern exports from 2014 to 2018. But the volumes, in line with the 2018 Baghdad-Erbil export deal (MEES, 16 November 2018), averaged a solid 91,000 b/d with the crude coming from oil fields in and around Kirkuk. (CONTINUED - 814 WORDS)
