Iraq’s oil exports bring in 6.2 bln USD in October

Baghdad (IraqiNews.com)- The Iraqi oil exports brought in 6. 241 billion U.S. dollars revenues in October from selling 76.282 million barrels, the Iraqi Oil Ministry said on Sunday.

The average of the crude oil exports was 2.461 million barrels per day for the month with an average selling price of 81.82 dollars per barrel, the ministry said in an emailed statement.

“Iraq’s oil sales in October were made via export terminals in Iraq’s southern city of Basra, while the crude oil exports by the pipelines from Kirkuk via Turkey’s port of Ceyhan have been suspended due to the terrorist actions,” the statement quoted ministry spokesman Asim Jihad as saying.

Iraq’s economy relies on oil revenues for nearly 95 percent of its revenues.

In 2010, Iraq announced that its proven oil reserves had increased to 143.1 billion barrels from the previous estimation of 115 billion barrels. /End/