Iraq Generates Increased Revenue From Crude Exports in July

Tue, Aug 20, 2013

by Khalid Al-Ansary and Nayla Razzouk

Iraq, home to the world’s fifth-largest proven oil reserves, generated 6.9 percent more from crude sales in July, compared with the previous month, according to the Oil Ministry.

A ministry spokesman said that Iraq earned $7.27 billion from the export of 2.32 million barrels a day of crude in July and generated $6.8 billion from the shipment of 2.33 million barrels a day in June.

The Iraqi government deployed an additional 2,500 soldiers to protect the pipeline running from Kirkuk to Turkey’s port of Ceyhan on the Mediterranean, according to the spokesman. Iraq plans to increase crude exports from September as the Gharraf and Majnoon oil fields start production.

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