Iraq's bid to boost oil export capacity at its Gulf ports has suffered a setback due to delays in pumping station upgrades, an Iraqi oil source said.
OPEC's second-largest oil producer aims to raise the capacity to 3.45 million barrels per day (bpd) from 3.3 million bpd.
The delay means it could miss out on exporting an additional 150,000 bpd of oil exports for the third quarter.
While this is a relatively small level, the setback comes at a time of tight global oil supply, limited spare capacity from other OPEC+ producers, and little room to compensate for a major supply outage.
The Iraqi oil ministry did not respond to a request for comment.
State-owned Basra Oil Co (BOC) had planned to install new pumping stations at Iraq’s Gulf ports to reach export capacity of 3.45 million bpd in the second quarter.
BOC now expects to increase southern export capacity to 3.35 million bpd in August and reach 3.45 million bpd by September.
The delay to its original plan stems from delays in obtaining necessary approvals and in finalising tenders for the upgrade work, an Iraqi oil representative said.
(Reporting by Rowena Edwards; editing by Louise Heavens and Jason Neely)