Iraq reduces oil exports in November

Oil&Gas Materials 4 December 2012 17:31 (UTC +04:00)

Azerbaijan, Baku, Dec.4 / Trend, A.Taghiyeva /

Iraq exported a total of 78.6 million barrels of oil in November 2012 compared to 81.3 million barrels in October 2012, Spokesman for the Iraqi Oil Ministry, Asym Jihad told Trend on Tuesday.

In November, Iraq exported 2.6 million barrels of oil. In November, due to weather conditions, Iraq was forced to suspend exports, which lasted for several days.

As a result, the country's income from oil exports in November totalled $8.2 billion compared to $8.5 billion in October at an average price of $104 per barrel of oil.

According to BP, Iraq's proven oil reserves amounted to 143.1 billion barrels as of late 2011.

The country ranks third in OPEC after Saudi Arabia and Iran.
BP reported that oil production in Iraq amounted to 2.798 million barrels per day in late 2011.

The major oil fields of Iraq are Rumaila, Zubair, Nahr Umr, Majnoon and West Qurna in the south of the country. About 80 per cent of oil extracted in Iraq, is exported.