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FINANCIAL NEWS
Iraq’s March oil exports at 2.42m bpd
07 Apr 2013
(MENAFN) Iraq’s Oil Minister, Abdul-Kareem Al-Luaybi, stated that in March, the country’s oil exports reached 2.42 million barrels per day (bpd), reported Xinhua News.
Al-Luaybi added that of the total, 2.10 million bpd were exported through the southern port of Basra, while 315,000 bpd were shipped through Turkey’s port of Ceyhan.
The minister said that in the first quarter, Iraq’s output of crude oil stood at 3.15 million bpd.
The country, which relies on oil revenues for around 95 percent of its budget, is forecasting production is to grow in May, as crude production will begin in Majnoon oilfield, while in June, al-Gharraf oilfield will start output.
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