Iraq's Oct. exports hit 6.87 per cent increase

[IHustle]

01/11/2011 15:47

Sulaimaniyah, Nov. 1 (AKnews) - Iraq exported 67.425 million bpd in October, an increase of 6.87 per cent from 63.1 million bpd the previous month

Mu'tassam Akram, undersecretary of Iraqi Oil Ministry, told AKnews Tuesday that average daily exports for OCtober hit 2.175 million bpd.

In September, Iraq's oil exports reached 2.95 million bpd, yet the country failed to ship more than 63.1 million bpd.

Iraq has the world's fourth-largest oil reserves, an estimated amount of 140 billion barrels of crude, and super-giant oil fields like Rumaila with up to 17.8 billion barrels of crude.

Currently, Iraq finances 95% of its annual budget through oil revenues.

Ireported by Dilshad Saifaddin RY/AKnews

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