Sun, Dec 1, 2013
Iraq's oil exports rose for a third successive month in November according to recent figures from the Oil Ministry. Iraq oil crude sales brought in revenues of $7.32 billion.
Average daily exports rose to 2.381 million barrels per day (bpd), from 2.25 million bpd the previous month and 2.07 million bpd in September.
Despite the increase, average exports remained below the recent highs of 2.62 million bpd achieved as recently as April.
Most of Iraq's crude is exported via its southern terminals near the port city of Basra, but a significant portion goes through a northern pipeline to the Turkish port of Ceyhan.
Iraq is heavily dependent on oil exports, and the government is seeking to dramatically ramp up its sales in the coming years to fund the reconstruction of the country's infrastructure. Officials are aiming to increase production capacity to nine million bpd by 2017.
Read the story here.
To read the full piece from Agence France-Presse, click here.