July sees rise in Iraqi oil exports

Iraq’s oil exports rose to an average of 1.6 million barrels a day during July, and tenders have been issued to build new refineries to help cope with fuel shortages hitting the country, the oil minister says.

Speaking on Monday, Ibrahim Bahr al-Uloum said Iraq’s crude exports had been 1.44 billion barrels a day for June. He said Iraq earned about $2.5 billion from oil sales abroad last month.

But the minister said the country, which lacks sufficient refining capabilities, is spending $300 million to import refined oil products to face fuel shortages.

Al Jazeera