Iraq reaped more than four billion dollars in oil revenues in January from almost 60 million barrels of exports, the oil ministry announced.
We made 4.44 billion dollars in revenues in January on an average price of 73.97 US dollars a barrel for an estimated 59.7 million barrels in exports, ministry spokesman Assem Jihad told AFP.
He said 45 million barrels were exported from the southern terminal of Basra on the Gulf and 14.7 million barrels from the northern fields in Kirkuk.
Iraq currently produces 2.4 million barrels per day, or which around two million bpd is exported, and its oil earnings account for 85 percent of state revenues.
The country has the worlds third largest proven oil reserves, behind only Saudi Arabia and Iran, with an estimated 115 billion barrels.
Since November, it has signed contracts with foreign firms to develop 10 oil fields around the country, with the aim of raising its output to between 10 and 12 million bpd.
AFP
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