Iraq oil export revenue rises
Azerbaijan, Baku, Feb. 21 / Trend A.Taghiyeva /
Iraq exported 65.3 million barrels of oil in January 2012 compared to 66.5 million barrels in December 2011, the Iraq's State Oil Company's report published on its website said today.
About 53.1 million barrels of the total exports fell to the city of Basra compared to 53.7 million barrels in December whilst the city of Kirkuk drew 12.2 million barrels compared to 12.8 million barrels.
The income received by Iraq from oil exports in December amounted to $7.123 billion compared to $ 7.061 billion in December. The average price on Iraqi oil in January amounted to $109.108 per barrel.
According to BP, Iraq's proven oil reserves as of early 2011 amounted to 115 billion barrels. The country ranks in third after Saudi Arabia and Iran.
According to BP, oil production in Iraq was 2.4 million barrels of oil per day in 2010, or 0.6 per cent more than in 2009.
Earlier an official representative from the Iraqi Oil Ministry told Trend that the country plans to produce more than 3.42 million barrels of oil per day in 2012. About 2-2.5 million barrels will be exported.
The major oil fields of Iraq are Rumaila, Zubair, Nahr Umr, Majnoon and West Qurna in south of the country. Some 80 per cent of oil produced in the country is exported.