Reuters reports that Iraq exported an average of 2.202 million barrels per day in February, up from 2.16 million bpd in January, and the highest level since the 2003 U.S.-led invasion.
Falah Alamri, head of the State Oil Marketing Organisation (SOMO), said exports from the northern fields, which included crude from the country’s Kurdish region, rose to 494,000 bpd, up from 419,000 bpd in January. That figure also included 10,000 bpd taken through Jordan by truck.
The bulk of the exports, averaging 1.708 million bpd, were shipped from the southern oil hub of Basra (pictured), he added.
Iraq sold its crude oil at an average price of $97 to $98 a barrel in February, compared with an average of $90.78 a barrel in the previous month. That means Iraq would earn $6 billion to $6.042 billion. In January Iraq earned $6.082 billion the highest in a year.
Iraq’s oil production was 2.7 million bpd in January, the first time it has reached that level in 20 years as investment increased and violence dropped.
Iraqi Kurdistan resumed oil exports last month following a halt in 2009 due to a long-standing dispute with the central government in Baghdad over the legality of contracts it signed with foreign oil companies.
Exports from fields in the semi-autonomous northern Kurdish region reached 60,000-70,000 bpd last month.
(Sources: Reuters, Associated Press)