Iraq's Southern Petroleum Compagny (SPC) announced Sunday, June 9, that despite the embargo, it was exploiting three new oilfields in the south, where it hoped to double output to 400,000 barrels per day (bpd).
"SPC has developed three new deposits with a current production of 200,000 bpd, which is half of the production capacity we will reach next year," SPC chairman Abdel Beri Mahmud Shaukat said, quoted by the Al-Basra weekly.
He said the Mina al-Baqr terminal in southern Iraq now had a crude pumping capacity of around 1.4 million bpd, "despite the obstacles raised by the United States and Britain about the development of this terminal."
Iraq had used the Mina al-Baqr terminal and one at the Turkish port of Ceyhan for its oil exports, as part of the UN's oil-for-food program, thus violating the embargo imposed after its 1990 invasion of Kuwait.
Baghdad suspended its exports on June 4, to protest against the "smart sanctions" project initiated by Britain and backed by the United States. The UN Security Council is due to make a decision on the project early July. — (AFP)
© Agence France Presse
© 2001 Mena Report (www.menareport.com)