Iraq's November Oil Exports Rise to 2.381 Mln bpd

Source: Reuters 12/1/2013, Location: Middle East

Iraq exported an average of 2.381 million barrels of oil per day in November, up from 2.253 million a month earlier, oil ministry spokesman Asim Jihad said.

The average selling price was $103 per barrel, generating $7.3 billion in revenues, he added.

Of the 2.281 million daily total, 2.381 million barrels were shipped from the southern oil port of Basra and 309,000 from Kirkuk in the north.

After decades of wars and sanctions, oil output from OPEC's second-biggest producer began a swift revival in 2010 after Big Oil signed deals to tap its southern oilfields.

But infrastructure and security problems, on top of a row between Baghdad and the Kurdistan region, have slowed progress this year - it had hoped to hit 3.5 million barrels per day by the end of 2013.

OPEC's second biggest producer is expected to show a second year of only modest output growth in 2014.

For more information about related Opportunities and Key Players visit Iraq Oil and Gas Projects

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