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Iraqi Oil Exports Reach Highest Level In Three Decades

September 01, 2012

Iraq says its oil exports last month reached their highest level in more than three decades.

Falah al-Amiri, head of the State Oil Marketing Organization, said oil exports averaged 2.565 million barrels per day (bpd) in July.

He said that represents about $8.4 billion in revenues at average oil prices of $106 per barrel.

Meanwhile, officials of the Kurdish Regional Government said Iraqi Kurdistan will export oil via federal pipelines until September 15, extending a one-month confidence-building measure amid a row with Baghdad.

The northern autonomous region had halted exports for several months on April 1 over $1.5 billion it said was owed to foreign oil companies working in the region that Baghdad had allegedly withheld.

Based on reporting by AFP and Reuters

Source: http://www.rferl.org/content/iraq-oil-exports-reach-highest-level-in-three-decades/24695118.html

Copyright (c) 2012. RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave., N.W. Washington DC 20036.