00:00Iraq could restore crude oil exports to around 3.4 million barrels per day within a week provided the Iran
00:07war ends and the Strait of Hormuz reopens, the head of the country's state-run Basra oil company said.
00:14Among Gulf oil producers, Iraq has suffered the biggest drop in oil revenue as a result of an effective closure
00:21of the Strait, a Reuters analysis has found, because it lacks of alternative shipment routes.
00:30But the country, the second biggest producer in the Organisation of the Petroleum Exporting Countries, OPEC, can quickly restore output
00:37to levels before U.S.-Israeli attacks on Iran at the end of February led to the effective closure of Waterway.
00:44The Strait typically is the route for about a fifth of global oil and LNG flows. Basim Adhukarim said Iran
00:51has so far provided only verbal guarantees that would allow Iraqi tankers permission to transit the Strait.
00:56He said production from Iraq's southern oil fields was around 900,000 barrels per day, but if the war ends
01:03and safe passage through the Strait, its guaranteed exports could reach 3.4 million barrels per day within a week.
01:09Last month, Iraq's oil production dropped by about 80 percent to around 800,000 barrels per day. Iraqi energy officials
01:16took Reuters last month as the war meant Iraq could not export and storage tanks filled.
01:21Abdul Karim said with limited outlets for Iraqi oil, production from the Rumailah field fell to around 400,000 barrels
01:29per day, down from about 1.35 million barrels per day before the conflict.
01:33He added that several smaller fields are being operated at limited levels to ensure continued production of associated gas used
01:49in domestic power generation, while shutdowns at other sites have been used as an opportunity to carry out maintenance work.
01:56Production from Iraq's fields was around 4.3 million barrels per day before the war, which should leave enough leeway
02:03to export 3.4 million barrels per day, even allowing for war-related damage.
02:09Gas output from fields in Basra has dropped to around 700 million standard cubic feet per day, compared with about
02:151.1 billion standard cubic feet per day before the war, largely because of the reduced oil production.
02:23To supply domestic demand, BOC is sending around 400,000 barrels per day of crude to northern Iraq.
02:29That includes about 150,000 barrels per day by truck and roughly 250,000 barrels per day via domestic pipeline
02:38to supply refineries that have demand of around 500,000 barrels per day.
02:42Production from the northern Kirkfields is roughly 380,000 barrels per day, Abdul Karim said.
02:48Production from the patreon. thoughُ гидerenci
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