Iraq's November oil exports from south increase

A worker at the Rumaila oil field in Basra. Southern exports are on the rise as Iraq looks to offset the halting of exports from its Kirkuk oilfields in the north. (Reuters)
Updated 01 December 2017

Iraq's November oil exports from south increase

BASRA: Oil exports from Iraq’s southern ports rose to an average of 3.5 million barrels per day (bpd) in November from 3.35 million bpd in October, Basra Oil Company Director General Ihsan Abdul Jabbar told Reuters on Friday.
Southern exports are on the rise as Iraq looks to offset the halting of exports from its Kirkuk oilfields in the north in mid-October after Baghdad government forces dislodged Kurdish Peshmerga fighters from the area.
A southern export figure of 3.9 million bpd released by the oil ministry on Thursday, the highest ever, referred just to output on Nov. 29, Abdul Jabbar said.
“The November average was 3.5 million bpd,” he said.
The Iraqi government’s November revenues from oil exports were over $6 billion, an oil ministry spokesman later said in a statement, with a total of over 105 million barrels sold.
The average price per barrel sold was $57.194, the spokesman said.
Southern exports are shipped by state-owned Basra Oil and sold by state oil marketer SOMO on behalf of the central government.
SOMO is also in charge of selling crude from Kirkuk but there were no exports from there in October or November, the oil ministry said.
The Kurdistan Regional Government in northern Iraq sells crude from its own fields through a pipeline to the Turkish Mediterranean port of Ceyhan.
Iraq is OPEC’s second-largest producer after Saudi Arabia with an output capacity of 4.8 million bpd which Baghdad aims to increase to 5 million bpd.
Actual production is less than 4.5 million bpd in line with an agreement among oil exporting nations to curb output in order to support crude prices and reduce global oil inventories.


Middle East airlines’ passenger traffic nosedive in April

Updated 06 June 2020

Middle East airlines’ passenger traffic nosedive in April

  • UAE-based Emirates and Etihad Airways will resume some transit flights
  • IATA said the global demand for air services is starting to show recovery

DUBAI: Passenger traffic for Middle East airlines plummeted 97.3 percent in April, versus a less-steeper dive of 50.3 percent a month earlier, the International Air Transport Association (IATA) said in a report.
“April was a disaster for aviation as air travel almost entirely stopped. But April may also represent the nadir of the crisis,” Alexandre de Juniac, IATA’s director general and CEO, said in a statement
“Flight numbers are increasing. Countries are beginning to lift mobility restrictions. And business confidence is showing improvement in key markets such as China, Germany, and the US.”
UAE-based Emirates and Etihad Airways will resume some transit flights after the country lifted a suspension on services where passengers stop off in the country to change planes, or for refueling.
Emirates, one of the world’s biggest long-haul airlines, would operate transit flights to 29 destinations in Asia, Europe and North America by June 15 while Etihad would carry transit passengers to 20 cities in Europe, Asia and Australia from June 10.
With aircraft of Middle East airlines grounded, and replicated globally due to the coronavirus pandemic, capacity tumbled 92.3 percent while the load factor decreased to 27.9 percent in April.
But IATA said the global demand for air services is starting to show recovery “after hitting bottom in April.”
There “are positive signs are we start to rebuild the industry from a stand-still. The initial green shoots will take time – possibly years – to mature,” de Juniac added.
Meanwhile, the Abu-Dhabi based carrier will extend salary cuts for employees until September even as other UAE airlines Emirates and Air Arabia confirmed job cuts due to the effects of the coronavirus pandemic.
“Etihad is continuing to consider all options to protect jobs and preserve cash at this challenging time. Regretfully, Etihad has extended its salary reduction until September 2020, with 25 percent reduction for junior staff and cabin crew, and 50 percent for employees at manager level and above. Housing allowance and a number of benefits continue to be paid,” a statement from Etihad said.