Iraq completes repairs on Basra offshore oil terminal

Iraq’s state-run Basra Oil Company has completed repairs on a floating oil terminal in the Arabian Gulf that was damaged by a tanker collision earlier this week. An oil tanker collided with a single point mooring (SPM) on January 30th, suffering slight damage, the company said, adding that the incident did not affect the loading operation programme or exports.

Iraq has four operational SPMs for loading oil tankers, each with a loading capacity of 850,000 bpd.

A 1m barrel vessel was scheduled to load 850,000 barrels of a heavy crude cargo, but hit the SPM while trying to birth, Reuters reported, citing unnamed sources familiar with loading operations at Iraq’s southern terminals.