Near-total reliance on Gulf outlets leaves Iraq vulnerable.

Iraq has secured a major boost with the start-up of a new 900,000 b/d single point mooring (SPM) system offshore Basra taking its southern export capacity to 4.6mn b/d. The timing is propitious, as it enables Baghdad to boost southern exports to mitigate for disruption of northbound shipments to the Turkish Mediterranean port of Ceyhan in the aftermath of the Kurdistan region’s contentious September independence referendum (...