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Iraq earns $8.8 billion from oil sales In April; highest for decades

HASSAN HAFIDH, DOW JONES NEWSWIRES

AMMAN - Iraq' s revenues from oil sales in April climbed to $8.79 billion, the highest the Middle Eastern country has achieved for decades, the oil ministry said in a statement Monday, adding that Iraq had sold its oil at an average price of $116.8/bbl.

In April, Iraq exported an average of 2.508 million bpd, the highest figure it had reached since 1989, the ministry said.

The country' s crude oil exports have stated to increase thanks to the operation of two new sea-borne export terminals in the Gulf.

Oil began loading March 8 from the new Single-Point Mooring buoy in the Gulf--the first of five, each with a loading capacity of 900,000 bpd.

A second 900,000-bpd SPM, built as the first by Leighton Offshore, a subsidiary of Australia' s Leighton Holdings Ltd., began loading vessels in April.
 

05/21/2012

 

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