BAGHDAD, Feb 2 (NNN-Xinhua) — Iraq’s Oil Ministry on Friday said it has exported more than 113 million barrels during January, bringing in revenue of over 6 billion U.S. dollars.
“The total exports of crude oil in January from oilfields in central and southern Iraq reached 110.245.281 million barrels,” the ministry said in a statement emailed to Xinhua.
“Iraq exported 2.315.381 million barrels exported from oilfields of Iraq’s northern province of Kirkuk, in addition to 550,000 barrels of oil exported from al-Qayyara oilfield in the northern province of Nineveh,” the statement quoted the ministry’s spokesman Asim Jihad as saying.
Jihad pointed out that the average of oil exports during the month mounted to 3,649 million barrels per day (bpd).
He said that Iraq earned 6.352.753 billion dollars in revenue for the last month, with an average selling price of 56.154 dollars per barrel.
Iraq’s economy relies heavily on crude oil exports, which account for more than 90 percent of the country’s revenues.
In 2017, Iraq announced that its proven oil reserves increased to 153 billion barrels from a previously estimated 143.1 billion barrels. — NNN-XINHUA
