New Gulf infrastructure opens up export growth

New Gulf infrastructure opens up export growth

Iraq Oil Report, Wed, Jun 4, 2014

by Ben Lando

Oil exports increased by an average of 70,000 barrels per day (bpd) in May over April, with a third single point mooring (SPM) buoy put into action and a new platform metering crude in the Basra Gulf.

The average 2.58 million bpd of exports was a massive jump from the previous month, which itself was revised upward after the final data were calculated. It is an important milestone in a country that is solely dependent on oil revenue.

To read the full article from Iraq Oil Report, click here.