×

Iraq may build oil storage in Japan, South Korea in bid to increase oil sales

BAGHDAD, March 27 (Reuters) - Iraq is studying the possibility of building crude oil storage facilities in South Korea and Japan as part of a plan to increase sales to Asian clients, the head of the Iraqi state-oil marketer SOMO, Alaa al-Yasiri said on Tuesday in Baghdad.

Iraq plans to stop crude loading from the southern Basra port for three to four days in early April because of maintenance works, he told reporters, adding that the country will increase sales from its storage tanks during this period to make up for the shortfall.

Iraq's crude output should not exceed 4.360 million barrels per day in compliance with a deal between oil exporting nations to curb supply in order to lift prices, he also said. March oil exports won't exceed 3.426 million bpd, he said. (Reporting by Ahmed Rasheed, editing by David Evans)