Iraq's Oil Business Is Booming

A worker walks at Khor al-Amaya oil terminal off the coast of Basra April 30, 2009. REUTERS/MAY NAJI

Bloomberg: Iraq Oil Shipments Near Record as Protests Intensify in Baghdad

 * Shipments rose to 3.36 million barrels a day in April
 * Oil output, exports not affected by parliament protests: SOMO

Iraq’s oil exports approached a record high in April, adding barrels to a worldwide supply glut, even as protests against public corruption threatened to paralyze the OPEC member nation’s government.

Shipments rose to 3.36 million barrels a day, or 100.92 million barrels for the month, Asim Jihad, a spokesman at the oil ministry, said by text message Sunday. The figures don’t include Kurdistan Regional Government exports. The exports rose from 3.29 million barrels a day in March and were close to the November all-time high of 3.365 million barrels a day, according to oil ministry figures.

Oil shipments and production were not affected Sunday after protesters stormed parliament in Baghdad, Falah Al-Amri, chairman of Iraq’s State Oil Marketing Organization, said by Facebook message. Government forces are struggling in the fight against Islamic State militants as a plunge in oil prices of more than 50 percent in the last two years has battered its finances.

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Update #1: Iraq Says Oil Exports, Revenues Increase in April (AP)
Update #2: Iraq's southern oil exports rise in April to 3.364 mln bpd (Reuters)

WNU Editor: Talk about a disconnect. On the one hand the oil business is booming, on the other hand the government is broke and most government services have collapsed.