Tuesday, 14 December 2010

Iraq's crude exports on the rise

The Head of the State Oil Marketing Organisation (SOMO) Falah Al-Amri has said that Iraq's crude oil exports rose to 1.912 million b/d in November compared with 1.900 million b/d in the previous month.

Al-Amari estimated that the country's crude oil production will increase further this month due to the rapid development of the oil fields in southern Iraq. He said that the Rumaila oil field, being developed by a consortium led by BP, has already began producing 1.100 million b/d from the previous production rate of 1.066 million b/d.

Over the last year, Iraq has signed several deals with international oil companies in a bid to boost crude oil production rates to 12 million b/d by 2017, from the current production rate of 2.35 million b/d.

Source: Dow Jones

For more news and expert analysis about Iraq, please see Iraq Focus.

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