Despite March exports drop, record output for new buoys
As new offshore export facilities come online, Iraq has the opportunity to increase oil sales, despite enduring security and infrastructure challenges.
Russian Deputy Prime Minister Arkady Dvorkovich (left) and Iraqi Deputy Prime Minister Hussain al-Shahristani (right) look into a ceremonial barrel of crude from the Lukoil-operated West Qurna 2 field, on March 29, 2014, in Basra. The field began first commercial production at 120,000 bpd and is targeting as much as 400,000 bpd by the end of the year. (ALI ABU IRAQ/Iraq Oil Report)
Iraq's single point mooring (SPM) buoys in the Basra Gulf exported an average 829,000 barrels per day (bpd) of crude in March, a new high for the expansion of the southern export system.
"Total exports from SPMs was 25.7 million barrels in March," said a senior official involved in Iraqi oil exports.
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