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Iraqi oil production records 2.5m bpd, exports 2m bpd
(MENAFN - Kuwait News Agency (KUNA)) Iraqi Minister of Oil unveiled in remarks published on Wednesday that the Iraqi production of oil recorded 2.5 million barrels per day and the daily exports of the crude reached two million barrels.Hussein Al-Shahristani, in the remarks published by the Egyptian "Al-Ahram" daily, that Iraq benefited from the increase of oil prices on the international market, as the oil revenues amounted to USD 21.5 billion from January to April 2008. Al-Shahristani added, that this number exceeded projections by more than USD 10 billion, expecting that the export revenues would hike to USD 70 billion by the year-end. He clarified, that the US was no longer the top importer of Iraqi oil as was the case during the era of the executed leader, Saddam Hussein, and that position became occupied by China and India. Exported Iraq oil is distinguished with "the best price on the market and is sold without mediators," he said, adding that the Iraqi oil decision makers were against increasing the exports for the market was saturated with supplies. Al-Shahristani said Iraq aims towards increasing production to three million bpd. emphasis added Posted by: mrp 2008-05-30 |
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