Business News
Iraq's oil revenues up by 300 million dollars in December
Jan 23, 2010, 11:04 GMT
Baghdad - Iraq's oil revenues went up by 300 million dollars during the last month of 2009, Iraq's oil ministry said on Saturday.
The increase in revenue, to hit 4.499 billion dollars, was reached through the sale of 61.3 million barrels at a rate of 73.39 dollars per barrel.
The price of oil barrel went up during December to 73.39 dollars compared to November's 71.94 dollars per barrel, official spoeksman Assem Jihad said.
On Friday, the ministry signed a contract with a consortium led by Italy's Eni to develop the giant al-Zubair oil field in the southern province of Basra. The signing follows an agreement reached last year.
Iraq has the third largest proven reserves in the world relies heavily on oil exports for its revenue. The government hopes foreign investment will boost oil output to 12 million barrels per day up from the current 2.5 million.
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
