Oil Exploration in Iraq, Earned $43b In Past 7 Months
August 18th, 2008Iraq has made around $43 billion from oil exports throughout the past seven months, the Dubai-based al-Hilal Oil Company said.
“The average daily production of Iraqi crude oil was 2.5 million barrels, including 1 million for export uses and half a million for local consumption…,” according to a report released by the company on Saturday and received by Aswat al-Iraq - Voices of Iraq - (VOI).
The report tackled the future of Iraqi oil industry, expecting oil revenues to reach $70 billion by the end of the current year.
“If oil prices maintained their current levels, Iraqi revenues will exceed $100 billion,” according to the report.
Operating in the Gulf for more than 25 years, al-Hilal Oil Company issues a weekly report on international oil production and markets.
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