Iraq boosts oil exports — and pressure to pay for rebuilding

BAGHDAD- Iraq boosted its crude oil exports by 3.3 million barrels in March over the previous month, bringing in nearly $15.5 billion, Oil Ministry figures showed Thursday.

The country’s total crude oil exports stood at 59.4 million barrels for March and grossed $5.64 billion, with an average price $95.02 for per barrel, the ministry said on its Web Site.


February’s exports hit 56.1 million barrels and yielded in $5.037 billion. January’s amounted to 59.6 million and brought in $4.813 billion.

There is still a wide difference in exports between the southern port of Basra and the northern city of Kirkuk, despite fighting in the south last month which included attacks on the southern export pipeline.

Ministry figures showed a total of 49.5 million barrels were sent abroad through Basra while other 9.9 million barrels were exported from the Kirkuk oil fields to Turkey’s Ceyhan terminal on the Mediterranean Sea.

Business Week