Output at Iraq’s nationally-operated Majnoon field (see map, MEES, 19 May) is barely a fifth of capacity, with Oil Minister Hayan Abdulghani saying during a 12 May visit to the facility that production was just 50,000 b/d versus 245,000 b/d capacity.
Mr Abdulghani says reduced output is due to Baghdad’s commitment to new voluntary Opec+ cuts which came into force this month (MEES, 7 April). But in reality, Iraq was already producing some 150,000 b/d below its voluntary May target in April despite rising southern exports (MEES, 5 May). In reality, the reason for the curtailments is likely to be that Iraq simply can’t export as much as it can produce. (CONTINUED - 1213 WORDS)
