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Iraqi oil exports net $8.4 Billion US Dollars
« on: October 02, 2012, 07:44:13 AM »
by pna

The Iraqi oil exports brought in revenues of 8.4 billion U.S. dollars from selling 78 million barrels in September, the oil ministry said Monday.

The average of crude oil exports was 2.6 million barrels per day (bpd) for the month with an average selling price of 107 dollars per barrel, the ministry said in a statement obtained by Xinhua.

Iraq exported 65.4 million barrels through the southern port of Basra, and 12.3 million barrels were exported via Turkey's port of Ceyhan on the Mediterranean Sea, the statement said.

Iraq also tracked 300,000 barrels of crude oil to neighboring Jordan during the month at discounted prices, in accordance with an agreement signed earlier between the two countries.

In August, Iraq exported a total of 79.5 million barrels of crude oil during the 31 days of the month, bringing in revenues of 8.442 billion dollars.

The country depends on oil revenues for nearly 95 percent of its budget.

In 2010, Iraq announced its proven oil reserves had increased to 143.1 billion barrels rising from the previous estimation of 115 billion barrels.

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