Page 15 - MEOG Week 27 2021

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overproduction, national exports fell slightly The head of Mahshahr Export Terminal repeatedly targeted in recent weeks, and about
to 3,318,000 bpd. said: “This project entered the implementation 70 electricity towers have been attacked so far.
Iraq’s national oil exports in June averaged phase in 2007 and reached 80% progress MEHR NEWS
3,318,000 barrels (bpd) per day, just below by 2017, but in the last two years, the most
May’s exports of 3,336 million barrels, with important part of the work, namely the Oman LNG posts revenue
federal and Kurdistan Regional Government transmission and mooring capacity of the
(KRG) oil. Sales declined slightly. But rising terminal more than doubled.” of $2.5bln in pandemic-hit
global oil prices boosted federal revenues Alizadeh pointed out that out of eight
from oil sales that month by $ 224 million. active docks in this terminal, five docks 2020
According to monthly data provided by the are now fully operational with a variety of
Ministry of Petroleum, federal exports in June petroleum products, and noted the product Strong performance: Despite challenging
averaged 28.92 million bpd, down from 2.899 transfer capacity in Mahshahr Export global economic conditions and lower
million bpd in May. Shipments from Basra Terminal has tripled and this has caused demand, Oman LNG successfully delivered a
Bay exporters averaged 2.79 million bpd, and the power of supply to exceed demand. total of 155 cargoes last year, compared with
federal exports to the Mediterranean Terminal As a result, vessel services will increase 166 cargoes in 2019.
in Ceyhan, Turkey via the North Pipeline significantly. Amid a year hit hard by low international
Route averaged 103,000 bpd. The head of the export terminal of oil prices and weakened global LNG demand,
IRAQ OIL REPORT Mahshahr Port stated: “With the measures Oman LNG saw revenue decline to $2.503
taken, this port will become one of the billion in 2020, down from $3.845 billion a
50% Rise in Export Capacity strategic ports of Iran because we do not have year earlier. Net Income After Tax (NIAT)
slumped to $663 million last year, down from
such a capacity in the Middle East.
of Mahshahr Port SHANA $1.112 billion in 2019.
However, despite the formidable
The head of the export terminal of Mahshahr challenges posed by the pandemic-impacted
Port said with implementation of the GAS global economy, Oman LNG delivered a
development plan, the storage capacity of “remarkable” performance overall, notably
this export terminal has increased by 50% North Gas Co. targeted in in terms of its production, reliability, and
from one billion liters to 1.5 billion liters and delivery of its strategic debottlenecking and
the berth capacity of vessels in this port has SW Kirkuk power projects, top officials said.
increased from 45,000 tons to 105,000 tons. “In its 20 years of operation, and despite
Hossein Alizadeh told a press conference An Iraqi security source in Kirkuk reported the many challenges encountered over
in Mahshahr Port this morning (Tuesday, on Tuesday that North Gas Company in the years, our company has continued to
July 6), underlined the need to increase the southwestern Kirkuk province had been contribute to Oman’s growth on an ever-
storage capacity of petroleum products and targeted with a Katyusha rocket. expanding scale. By all measures of success,
the export transfer capacity of this terminal, A rocket landed late last night near the Oman LNG has sailed past all benchmarks
adding: “Development of this terminal has abandoned equipment of the Northern Gas to become the profitable and sustainable
been discussed since 2006.” Company, 20 km southwest of Kirkuk, the industry model that it is today,” Talal Hamid
He said the export port of Mahshahr is 85 Iraqi security source said according to Shafaq al Awfi, Chairman of the Board of Directors,
years old and was built with the aim of paving News. stated in the company’s newly published 2020
the way for the export of petroleum products, Stating that the attack did not cause any Annual Report.
adding: “This port was one of the strategic casualties or financial damage, he said Majority-state-owned Oman LNG, said
ports of the country during the imposed war that security forces arrived at the scene to the Chairman, took early steps to mitigate
due to its remoteness from attacks and today investigate the attack. the effects of collapsing oil prices and other
it is still considered as one of the country’s The attack comes as the Iraqi electricity sector, adverse impacts on its production and
important export port.” including transmission towers, has been financial obligations during the year. “To

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