ConocoPhilips today became the first lifter to load Iraqi crude from the newly opened SPM (single point mooring) in the Mideast Gulf. The new loading facility is now officially open, offering up to 500,000 b/d of export capacity on top of the 1.8 million b/d available at Basrah Oil Terminal and Khor al-Amaya Terminal. That’s more than enough to absorb the idle production capacity currently available in southern Iraq. The…
Tag: marketing
Who Runs Somo
7 September 2001 A fresh shakeup in the Iraqi oil industry has left Oil Ministry employees — not to mention industry observers and traders — puzzled as to who is in charge of Somo, Iraq’s influential state marketing organization. The latest change came shortly after a reshuffle among top echelons at the ministry and at key state energy companies. Last month, Oil Minister Amer Rashid appointed Somo’s former executive director,…