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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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