Sunday, 5 April 2009

Iraq suffers drop in oil revenues, exports

The Associated Press' Sinan Salaheddin went through Iraqi Oil Ministry's records and found that the country's oil revenues dropped by 57.6 percent and exports by about 100,000 barrels a day in the first quarter of 2009 compared with the same period of 2008.

The revenues in the first three months of this year stood at about US$6.57 billion, with an average daily export level slightly over 1.8 million barrels.While the same period in 2008 witnessed US$15.49 billion in revenues and oil exports level was just over 1.9 million barrels a day, the records show.