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Iraq’s oil industry is showing signs of recovery after the country’s Oil Ministry announced that revenues from oil sales increased by US$300 million in December, 2009.
Aswat al-Iraq reported that revenues were up to $4.499 billion in December after the Gulf state sold 61.3 million barrels of oil at $73.39 per barrel.
“Crude oil exports rose in December 2009 compared to November 2009 during which 57 million barrels were sold at $4.205 billion,” the ministry’s official spokesman Assem Jihad is reported by Aswat al-Iraq as saying.
“Basra’s oil contributed to the country’s total exports by 47.6 million barrels worth $3.506 billion while Kirkuk’s by 13.7 million barrels worth $993 million,” he added added.
Iraq’s revenues were also boosted by the fact that the price of oil was $73.39 per barrel in December compared to $71.94 per barrel the month before.Â
