Oil exports tick up in September, but revenue declined
Crude exports from southern Iraq ports increased month-on-month, with loadings further bolstered by new Kirkuk sales from Ceyhan as Baghdad-Erbil deal enters second month intact.
Tugboats position a single point mooring (SPM) buoy in the Basra Gulf in January 2012 as Iraq expands its export capacity. (ALI ABU IRAQ/Iraq Oil Report)
Iraq posted gains in south oil exports in September, but a drop in oil prices hurt overall revenues.
Tanker loadings from ports in the Basra Gulf as well as the first federal government sales in more than a year from the Turkish port of Ceyhan lifted federal Iraq to an average export rate of 3.276 million barrels per day (bpd), up from 3.229 million bpd in August and 3.203 million bpd in July, according to initial Oil Ministry data released on Saturday. *
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