Iraq oil ministry says exports declined in August 2008-09-21 21:45:47   Print

    BAGHDAD, Sept. 21 (Xinhua) -- The Iraqi Oil Ministry said Sunday that its oil exports in August fall to 54.4 million barrels from the previous month.

    A ministry statement said the barrel was sold at an average price of 102 U.S. dollars and yielded 5.549 billion dollars.

    The oil exports through the southern Basra terminals reached 44.9 million barrels during the month, while the oil exports from the northern oil fields across Turkey reached 9.5 million barrels, the statement said.

    In July the ministry said it had exported 58.8 million barrels with an average price of 113.8 dollars per barrel and yielded 6.692 billion dollars.

    Iraq has the world's third-largest oil reserves, with more than115 billion barrels, but the country needs billions of dollars of investment to overhaul its oil industry infrastructure and increase oil and gas output after 13 years of sanctions and war.

Editor: Sun
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