Iraqi oil output averages 1.8-mil b/d in week ended Nov 13

Dubai (Platts)--18Nov2005

Iraq produced an average of 1.8-mil b/d of crude oil during the week
ended Nov 13, compared with some 2.1-mil b/d in the previous week, the US
State Department said in its latest Iraq Weekly Status Report. 

     Crude output has moved higher from the 1.68-mil b/d for the week ended
Oct 30 and the 1.64-mil b/d for the week of Oct 23, but production remains
constrained by a leak in a 42-inch diameter pipeline in the south and loading
delays at the Basra Oil Terminal in the Persian Gulf.

     Reflecting this, the country's total crude oil exports averaged only
1.12-mil b/d for the first two weeks of November, lower than the October
average of 1.239-mil b/d.

     The State Oil Marketing Organization is likely to roll over November
Basrah Light crude volumes into December because of the loading delays. Some
seven to eight tankers are docked off the Basra terminal waiting to pick up
crude, shipping agents have said.

     Iraqi crude oil exports have generated revenue of $610-mil through
November so far. October crude export revenue stood at $1.89-bil, the weekly
report said. 

     Iraq's year-to-date revenue stood at $20.8-bil, higher than the 2004
figure of $17.01-bil, the report said, putting oil export revenue above the
2005 budget target. 

     Post-war crude output has remained below the oil ministry's 2005 target
of 2.5-mil b/d and below Iraq's post-war high of 2.67-mil b/d. 

     The supply of diesel and gasoline remained mixed for the week ended Nov
13, with diesel supplies standing at 15.6-mil liters/day, compared with demand
of 18-mil liters/day, and gasoline supply at 19.1-mil liters/day, compared
with demand of 18-mil liters/day, the report said. Kerosene supply stood at
7.4-mil liters/day.

For more information, take a trial to Platts Oilgram Price Report at
http://www.platts.com/Request%20More%20Information/

Please visit: www.platts.com

Their coverage of energy matters is extensive!!.