Iraq's oil exports reach high
March 3, 2010 - 6:39AM
Iraq's oil exports reached their highest level in February since Saddam Hussein's invasion of Kuwait in 1990, oil ministry spokesman Assem Jihad told AFP on Tuesday.
"Oil exports for February reached 2.069 million barrels (per day) and this is the highest export level since 1990," Jihad says.
"This is a step towards the ministry's goal of exporting 2.15 million barrels per day this year."
Iraq produces a total of about 2.4 million barrels of oil per day (bpd), including for domestic use, and its oil earnings account for 85 per cent of state revenues.
The country has the world's third largest proven oil reserves, behind only Saudi Arabia and Iran, with an estimated 115 billion barrels.
Since November, it has signed contracts with foreign firms to develop 10 oil fields around the country, with the aim of raising its output to between 10 and 12 million bpd.
2010 AFP
March 3, 2010 - 6:39AM
Iraq's oil exports reached their highest level in February since Saddam Hussein's invasion of Kuwait in 1990, oil ministry spokesman Assem Jihad told AFP on Tuesday.
"Oil exports for February reached 2.069 million barrels (per day) and this is the highest export level since 1990," Jihad says.
"This is a step towards the ministry's goal of exporting 2.15 million barrels per day this year."
Iraq produces a total of about 2.4 million barrels of oil per day (bpd), including for domestic use, and its oil earnings account for 85 per cent of state revenues.
The country has the world's third largest proven oil reserves, behind only Saudi Arabia and Iran, with an estimated 115 billion barrels.
Since November, it has signed contracts with foreign firms to develop 10 oil fields around the country, with the aim of raising its output to between 10 and 12 million bpd.
2010 AFP