First Floating Terminal for Oil Export to open in Basra

BASRA / IraqiNews.com: Iraq’s Oil Ministry has decided to open the first floating oil terminal in southern Iraq’s Basra Province on Friday, with an export capacity of 900,000 barrels per day (bpd), the Ministry’s Spokesman Assem Jihad announced on Wednesday. “The Oil Ministry shall open on Friday the first floating oil terminal, with an export capacity of 900,000 bpd, within 4 terminals the Ministry had signed contracts to construct during the next few years,” Jihad told IraqiNews.com news agency. The contracts “are part of a Ministry plan to cope with the expected increase in production, provided that contracts would be concluded in the future for the construction of a 5th floating oil terminal,” he said. SKH (TP)/SR 549