BAGHDAD: Iraq's crude oil exports rose to their highest level since 2003 in March, at 2.317 million barrels per day (bpd) from 2.014 million bpd in February thanks to a new offshore export terminal, the State Oil Marketing Organisation said on Sunday.
Revenue from the exports totalled $8.4 billion, with each barrel of oil priced at $118, SOMO chief Falah Alamri said.
Iraq opened a new offshore floating oil export terminal in the Gulf earlier this month, marking a major increase in the country's export capacity.
"This is the highest (export) figure that Iraq has managed to achieve after 2003," Falah Alamri told Reuters. "The floating terminal will help us to increase oil exports for this month and next month."
The second of four new single-point mooring (SPM) terminals is expected to come on line in April.
A shipper in the south said the fourth ship had been loaded with 2 million barrels at the terminal on Saturday and was due to leave on Sunday.
Alamri said Iraq shipped 1.917 million bpd from the southern oil hub of Basra in March versus 1.639 million bpd in February. Shipments from the northern fields around Kirkuk were about 400,000 bpd, up from 375,000 bpd in February, he said.
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