Oil sales $1bn up on budget in 4 Months

Iraq earned more than $17 billion in the first four months of this year an Oil Ministry spokesman said.

The spokesman, Assem Jihad, said the sum is one billion dollars in excess of budget expectations for 2010.

“The ministry exported 222.7 million barrels in the first four months of this, earning the country $17.218 billion,” Jihad said.

He said the average price of a barrel of Iraqi crude was $75.6 in these months.

Meanwhile, the Director-General of Southern Oil Company Dhiaa Jaafar, said output from the Nasiriya oil field will surge to 100,000 barrels a day from 10,000 now.

The field is being developed by the company, relying solely on national expertise.

By Abed Battat

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