Iraqi oil exports slightly down in Jan
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E-mail Xinhua, February 20, 2012
Iraqi crude oil exports were slightly down in January compared to the previous month of December, but brought slightly higher revenues, the Iraqi Oil Ministry said Monday.
Iraq exported 65.3 million barrels of crude oil in January, bringing in revenues of 7.123 billion U.S. dollars with an average selling price of 109.081 dollars per barrel, the ministry said in a statement.
During the month, Iraq exported 53.1 million barrels through the southern port of Basra, and 12.2 million barrels were exported via Turkey's port of Ceyhan in the Mediterranean Sea, it said.
In December, Iraq exported 66.5 million barrels of crude oil, slightly more than that of in January. But December's exports brought lower revenues of 7.061 billion dollars, as the average selling price was 106.180 dollars per barrel.
Earlier, Baghdad signed service contracts to develop a total of 12 oil fields across the country, aiming to give the country the potential to increase its oil output and exports capacity.
Iraq depends on oil revenues for nearly 95 percent of its budget.
The country announced in 2010 that its proven oil reserves had increased to 143.1 billion barrels from the previous estimation of 115 billion barrels.
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