Record oil exports from Iraq in March

By John O'Hanlon

In March Iraq’s oil exports soared to the highest level they have reached since the overthrow of Saddam Hussein, according to the country’s oil ministry. It confirmed that exports out of Iraq’s southern terminals in March reached 2.7 million barrels per day (bpd), while exports from the north via the Kurdistan pipeline were 268,000 bpd.

Selling at $48.24 per barrel, oil shipments in March generated a total of $4.45 billion. The exports, helped by fair weather at Basra which improved the loading rate for tankers, jumped 15 percent over the previous month’s figures.

The southern oilfields, being developed with the help of foreign oil companies, produce the bulk of Iraq's oil and the terminals are its main outlet to world markets. Comfortably distanced from those parts of the country disrupted by Islamic State, they have kept pumping in spite of the conflict.

Share

Featured Articles

Musk’s multibillion hostile Twitter takeover – the timeline

As billionaire entrepreneur Elon Musk buys Twitter for US$44bn, we draw up a timeline, from the buying of shares to the critical tweets and unsolicited bid

Sustainable moves businesses can make to win customers, IBM

With half of consumers saying environmental sustainability is more important today than a year ago, businesses should up their eco action, says IBM report

Banks and consultancies top workplaces to grow career in UK

Financial and professional services firms rank highest in LinkedIn Top 25 best workplaces list – from Barclays, Lloyds and HSBC, to PwC, Deloitte and EY

Top 10 women in technology in Europe

Leadership & Strategy

The value of ESG links sustainability to business returns

Sustainability

Top 10 European football clubs by revenue 2022 – Deloitte

Corporate Finance