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Iraq's oil exports climb in March

Xinhua, April 1, 2015 Adjust font size:

Iraq's oil exports increased in March to 2.980 million barrels per day (bpd), compared to 2.597 million bpd in February, despite several days of bad weather in the country's southern ports, the oil ministry said on Wednesday.

Iraq exported a total of 92.401 million barrels over the 31 days of March and brought in 4.457 billion U.S. dollars in revenue, with an average selling price of 48.244 dollars per barrel, the ministry said in a statement emailed to Xinhua.

Iraq exported 84.078 million barrels from the southern port of Basra, and 8.322 million barrels via Turkey's port of Ceyhan on the Mediterranean Sea, the statement said.

"The ministry has made extraordinary efforts to increase the crude exports in a bid to compensate the delay of loading due to bad weather," the statement quoted the ministry's spokesman Asim Jihad as saying.

In 2014, Iraq exported a total of 918.114 million barrels of crude oil, earning 84.215 billion dollars in revenue.

Iraq's economy relies on oil revenues for nearly 95 percent of its revenues.

In 2010, Iraq announced its proven oil reserves had increased to 143.1 billion barrels, from the previous estimate of 115 billion barrels. Endit