Govt's Friday diesel price meet in doubt
A planned meeting by a committee of ministers to discuss raising diesel and other fuel prices may not happen following widespread protests and political backlash to a petrol price rise, a finance ministry official says. Full Article
Reuters Showcase
Aiming To Crack China
India's Mahindra taps Korean arm to push brand in world's largest auto market Full Article
Profit from Facebook
Morgan Stanley, others make $100 mln profit on Facebook trades, according to reports. Full Article
Factories Take a Hit
China May factory activity turns down, according to HSBC Flash PMI. Full Article
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
Iraq inaugurates new Gulf crude export outlet
FAW, Iraq |
FAW, Iraq (Reuters) - Iraq opened a new Gulf crude export outlet in the southern oil hub of Basra on Sunday, clearing the way for Baghdad to increase exports by around 200,000 barrels per day from next month once crude begins loading.
Loading at the Single Point Mooring outlet for tankers in the Gulf, part of Iraq's large-scale export facility expansion plan, has already been delayed several times by bad weather and technical hitches.
Water will be pumped through the terminal for testing to allow crude to start flowing in a week to 10 days, the head of state-run South Oil Company, Dhiya Jaffar, said at an opening ceremony.
If the project goes according to plan, exports from Iraq's southern oilfields will rise to 1.9 million bpd by March and bring Iraq's total shipments to 2.3 million bpd, the highest level since the 2003 invasion that ousted Saddam Hussein.
(Reporting by Francois Murphy and Aref Mohammed in Basra Writing by Patrick Markey; Editing by Alistair Lyon)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters