BREAKING NEWS

Iraq's Basra oil export terminal to stop loading for 24 hours

BASRA, Iraq  - Iraq's main oil export terminal, off the southern city of Basra, will stop loading operations for 24 hours, starting midnight Tuesday, because of work to install a new pipeline feeding the facility, two sources at state-run South Oil Company said.
The terminal's loading capacity is estimated at around 1.8 million barrels per day (bpd).
Loading offshore at three single-point moorings (SPMs) connected with the Basra terminal will not be affected, they said.
OPEC's second-largest producer after Saudi Arabia, Iraq exported a record 3.51 million barrels per day in December from the southern ports.
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