Technical Problems Halt Oil Exports from New Iraq Terminal

Technical glitches have halted exports from Iraq's new offshore oil export terminal for the past week after it loaded just a single tanker, two sources at the state-owned South Oil Company said on Tuesday, according to Reuters.

The first of four single-point mooring (SPM) terminals, which are being built by Australia's Leighton Holdings, opened on 8th March after being held up for weeks by bad weather and technical issues.

It loaded 2 million barrels of oil into its first ship, the Maersk Hirado (pictured), over five days, marking a major increase in Iraq's export capacity, but has since been shut due to technical problems, the sources said.

They said the second SPM would come on line in April.

(Source: Reuters)

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