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Iraq's Oil Exports Highest in 30 Years

Sunday, 02 Sep 2012 06:51 AM


BAGHDAD — Iraq's Oil Ministry says crude oil exports have averaged 2.565 million barrels a day in August, the highest level in more than three decades.

Ministry spokesman Assem Jihad said Sunday that last month's revenues stood at $8.442 billion based on an average price of $106 for each barrel. Jihad added that 2.252 million barrels a day were exported through the Persian Gulf and another 313,000 barrels were sent through Turkey's Ceyhan port.

Iraq's oil exports have climbed steadily since last year, thanks to a handful of international oil companies operating in Iraq and to the opening of two export terminals in the Persian Gulf early this year.

Iraq holds the world's fourth-largest oil reserves, some 143.1 billion barrels.



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2012-51-02
Sunday, 02 Sep 2012 06:51 AM
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