Iraq Exports First Oil Cargo from Second Offshore Terminal

Reuters reports that Iraq has exported its first cargo of crude oil from its second new Single Point Mooring (SPM) floating terminal in the Gulf on Tuesday.

The tanker named "A Whale" (pictured) left the terminal with a cargo of of two million barrels of crude oil destined for India's state-run Indian Oil Corporation.

The terminal is the second of four being built by Australia's Leighton Holdings, each with a capacity of 850,000 barrels per day (bpd) and which are expected to more than double Iraq's export capacity.

"After bringing a second export terminal online, we are confident that we're ready to deal with exporting more crude in the future," an official for Iraq's state-run South Oil Company (SOC) told Reuters.

Iraq began exporting from the first Single Point Mooring (SPM) platform last month at a rate of 300,000 bpd.

(Source: Reuters)

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