Iraq says oil exports continued to rise in June

AP, Tuesday 26 Jul 2011

Exports are up just over 2 per cent month on month for a sector that provides 95 per cent of the beleaguered country's revenues

Iraq's oil ministry says oil exports have inched up in June by slightly over 2 per cent compared to the previous month.

Tuesday's statement says last month oil exports averaged 2.273 million barrels per up from the 2.225 barrels per day in May.

The sales yielded US$7.173 billion with an achieved average price of US$105.167 per barrel. May's exports generated about US$7.45 billion when average price stood at about US$108 per barrel.

The statement added that the oil was sold to 28 international oil companies.

Since the 2003 U.S.-led invasion, Iraq has awarded 15 oil and gas deals the first major investments in the country's energy industry in more than three decades.

Oil exports account for 95 per cent of its revenues.

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