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Iraq September oil exports slightly higher
by Staff Writers
Baghdad (AFP) Oct 1, 2012


Iraq's oil exports were slightly higher in September compared to the previous month of August, oil ministry spokesman Assem Jihad said on Monday.

Iraq exported about 2.6 million barrels per day (bpd) in September against 2.565 million bpd in August, he said.

The revenues from September oil exports were $8.4 billion earned at an average price of $107 per barrel, Jihad said. Iraq earned $8.442 billion in August from oil exports.

Iraq has proven reserves of 143.1 billion barrels of oil and 3.2 trillion cubic metres (111.9 trillion cubic feet) of gas, both of which are among the largest in the world.

Crude exports account for the lion's share of government income, and Baghdad is looking to dramatically ramp up both production and sales in the coming years, bringing in much-needed cash to rebuild its conflict-battered economy.

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Thousands protest against Malaysia petroleum hub
Kuala Lumpur (AFP) Sept 30, 2012
Thousands rallied in southern Malaysia on Sunday against a government-backed $56-billion petroleum hub they say will force thousands out of their homes and damage a fishing community. Environmentalists from across the country gathered in the sleepy coastal town of Pengerang where the project, spearheaded by state oil giant Petronas and also involving private companies, is due to be completed ... read more


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