Iraq makes more oil payments

02 August 2011

South Korea’s Kogas and US’ Occidental receive 1 million barrels

Iraq has made another batch of crude oil payments, delivering the first cargo to the US’ Occidental Petroleum and South Korea’s Kogas.

The two firms, which are working with Italy’s Eni to develop the 4-billion barrel Zubair oil field, received a total of 1 million barrels of Basra light crude, Reuters news agency reports, citing shipping sources.

A Greek-owned vessel, the Hellespont Trooper left Basra on 31 July, carrying 600,000 barrels for Occidental and 400,000 barrels for Kogas.

A shipment of 2 million barrels was also bound for China National Petroleum Corporation (CNPC), its second payment for its work on the Rumaila field (MEED 19:5:11).

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