Federal exports climb, revenues hit three-year high
Exports from all of Iraq were just over 3.8 million bpd, a slight decrease from September, but sales from the Basra Gulf grew.
Tugboats position a single point mooring (SPM) buoy in the Basra Gulf in January 2012 as Iraq expands its export capacity. (ALI ABU IRAQ/Iraq Oil Report)
BAGHDAD - Iraq made more money on federal oil sales in October than in any other month over the past three years - a product of increased export flows and higher oil prices.
The federal government sold an average of 3.346 million barrels per day (bpd), according to the Oil Ministry* - an increase of 106,000 bpd over its September average - through newly expanded Basra Gulf terminals.
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