Iraqi oil revenues dipped in February on lower oil prices, despite the highest level of exports in 20 years, the oil ministry said.
“Revenue was $4.229 billion, based on an average price of $73.4 per barrel and exports of 57.9 million barrels,” ministry spokesman Assem Jihad told AFP.
Iraq enjoyed revenues of $4.44 billion in January, based on oil prices of $73.97 a barrel.
In March the oil ministry said that exports in February has reached 2.069 million barrels per day, which marked the highest level since Saddam Hussein invaded Kuwait two decades ago.
Jihad told AFP 45.2 million barrels were shipped from the southern terminal of Basra in February, while the remaining 12.7 million barrels were exported from the country’s northern fields in Kirkuk.
Iraq has the world’s third largest proven oil reserves behind only Saudi Arabia and Iran and its oil revenues account for 85% of its government income.
