Bloomberg News

Iraq’s Oil Exports Fell to 2.1 Million Barrels a Day Last Month

October 20, 2011

Oct. 20 (Bloomberg) -- Iraq’s crude oil exports fell 4 percent to 2.1 million barrels a day in September, according to Oil Ministry data.

OPEC’s third-largest producer shipped 53 million barrels from the port of Basra and 10.1 from the oil hub of Kirkuk in the north, according to data on the ministry’s website. That compares with 53.6 million barrels and 14.3 million from the two hubs, respectively, in August.

Iraq, holder of the world’s fifth-largest oil reserves, depends on crude for most state revenue. Income from oil exports was $6.62 billion in September, down from $7.12 billion a month earlier, the data show. The government is struggling to raise exports and is seeking foreign investors to boost output after decades of conflict and sanctions destroyed its infrastructure.

--Editors: Rob Verdonck, Raj Rajendran

To contact the reporter on this story: Kadhim Ajrash through the Dubai newsroom at kajrash@bloomberg.net Fiona MacDonald in Kuwait at fmacdonald4@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net Shaji Mathew at shajimathew@bloomberg.net


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