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.


Singapore Airlines drops ‘flights to nowhere’ after outcry

Updated 29 September 2020

Singapore Airlines drops ‘flights to nowhere’ after outcry

  • Several carriers have been offering short flights that start and end at the same airport to raise cash

SINGAPORE: Singapore Airlines said Tuesday it had scrapped plans for “flights to nowhere” aimed at boosting its coronavirus-hit finances after an outcry over the environmental impact.
With the aviation industry in deep crisis, several carriers – including in Australia, Japan and Taiwan – have been offering short flights that start and end at the same airport to raise cash.
They are designed for travel-starved people keen to fly at a time of virus-related restrictions, and have proved surprisingly popular.
But Singapore’s flag carrier – which has grounded nearly all its planes and cut thousands of jobs – said it had ditched the idea following a review.
The carrier has come up with alternative ideas to raise revenue, including offering customers tours of aircraft and offering them the chance to dine inside an Airbus A380, the world’s biggest commercial airliner.
Environmental activists had voiced opposition to Singapore Airlines launching “flights to nowhere,” with group SG Climate Rally saying they would encourage “carbon-intensive travel for no good reason.”
“We believe air travel has always caused environmental harm, and it is now an opportune moment for us to think seriously about transitions instead of yearning to return to a destructive status quo.”
The airline said earlier this month it was cutting about 4,300 jobs, or 20 percent of its workforce, the latest carrier to make massive layoffs.
The International Air Transport Association estimates that airlines operating in the Asia-Pacific region stand to lose a combined $27.8 billion this year.
The group also forecasts that global air traffic is unlikely to return to pre-coronavirus levels until at least 2024.