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FINANCIAL NEWS
Iraq’s crude exports reach 2.6m bpd in September
02 Oct 2012
(MENAFN) Iraq has boosted crude oil exports to 2.6 million barrels per day (bpd) on average in September, compared to 2.565 million bpd in August, Reuters reported.
According to a document from the Ministry of Oil, September oil shipments hit the highest level since 1979 when its exports hit 3.244 million bpd.
Spokesperson at the ministry, Asem Jihad, said that exports originating from Basra in the south were 2.18 million bpd in August, while shipments from northern Kirkuk were 420,000 bpd, including around 10,000 bpd taken by truck through Jordan.
Oil exports originating from semi-autonomous Kurdistan region increased last month as a result of the local and central governments agreement to end an oil payment dispute after Kurdistan pledged to continue exports.
Last month, shipments from northern Kirkuk were 313,000 bpd, including around 6,000 bpd by truck through Jordan.
Revenue from the exports totalled USD8.4 billion, based on a price of USD107 per barrel, Jihad said.
Iraq, which is an Opec member, holds the world’s fourth largest oil reserves.
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