Shafaq News-Basra
Basra OilCompany directed operators at West Qurna/2 to suspend pumping entirely and cutproduction to 50,000 barrels per day effective midnight on June 23, citing thecontinued absence of available tankers under an ongoing force majeure condition.
According to aninternal company document received by Shafaq News, the directive ordered a 100percent suspension of pumping operations and instructed field operators tostore remaining output in on-site tanks. No resumption timeline was specifiedin the document.
West Qurna/2 isone of Iraq's largest oilfields, located approximately 65 kilometers northwestof Basra in southern Iraq, producing around 460,000 to 480,000 barrels per dayand holding an estimated 14 billion barrels of recoverable reserves. The field accounts for nearly 9 percent ofIraq's total crude output.
Last March, Iraqalso declared force majeure across its oil sector, citing disruption linked tothe US-Israel-Iran conflict. The condition at West Qurna/2 has also been ineffect in late 2025, when Russian energy company Lukoil, which held a 75percent stake in the field under a technical service contract signed in 2010, declaredforce majeure following the impact of Western sanctions. The Iraqi cabinetsubsequently transferred operational control to Basra Oil Company, thestate-run operator, which has managed the field since under interimarrangements.
Basrah Heavycrude fell on Wednesday 4.09 percent to $45.78 per barrel, while Basrah Mediumdropped 3.91 percent to $47.88 per barrel. The declines tracked broader globalmovements, with Brent crude down 0.71 percent to $76.53 per barrel and WestTexas Intermediate falling by the same margin to $72.69 per barrel. The UAE'sMurban crude dropped 1.64 percent to $69.63 per barrel.
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