Iraq oil exports hit record level

02 April 2015

Surge in exports from southern fields

  • Iraqi crude exports hit a record 2.98 million barrels a day
  • Exports from southern oil fields surged by nearly 18 per cent

Iraqi crude exports hit a record 2.98 million barrels a day (b/d) in March, up by 14.6 per cent from the 2.6 million b/d reported in the previous month, according to a statement from Iraq’s Oil Ministry.

Exports from Iraq’s southern oil fields surged by nearly 18 per cent to 2.71 million b/d, from 2.3 million b/d, compared with the official data for February.

At the same time, exports from the northern Kirkuk fields fell by nearly 20 per cent to 268,000 b/d.

Shipments in March generated revenues of $4.46bn, with an average of $48.24 received for each barrel.

Exports from the Kirkuk fields are being carried out by the Kurdistan Regional Government (KRG), which took control of oil assets last summer, when the jihadist group Islamic State in Iraq and Syria (Isis) started its offensive in northern Iraq.

Oil exports from inside the KRG’s historical autonomous region are not included in the Iraqi Oil Ministry’s official figures.

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