• India's PFC inks pact with Exim Bank
    Published: May 16, 2008 at 12:31 PM
    NEW DELHI, May 16 (UPI) -- India's Power Finance Corp. has signed an agreement with U.S. Exim Bank to receive an $800 million loan.
  • India Oil to shelve refinery proposal
    Published: May 16, 2008 at 12:09 PM
    NEW DELHI, May 16 (UPI) -- State-run Indian Oil Corp. is contemplating shelving its 15 million-ton greenfield refinery in southern Tamil Nadu state.
  • India won't cut duty on oil imports
    Published: May 15, 2008 at 9:40 PM
    NEW DELHI, May 15 (UPI) -- Indian Finance Minister P. Chidambaram said there will be no reduction in the duty charged on imported oil, despite soaring energy prices.
» view more...
  • Fall River fights five-year battle against LNG facility
    Published: May 16, 2008 at 10:18 AM
    By JOHN C.K. DALY
    UPI International Correspondent
    WASHINGTON, May 16 (UPI) -- A five-year struggle continues between Fall River, Mass., residents and Weaver's Cove Energy LLC over a proposed LNG facility. While the Federal Energy Regulatory Commission approved the project, the Coast Guard opposes it as an unacceptable safety risk.
  • UPI Energy Watch
    Published: May 15, 2008 at 12:19 PM
    OPEC cuts estimate of growth in world oil demand for 2008; The United Arab Emirates' crude oil output increased last month; Philippine government may cut taxes on oil and gas
  • Nigerian militants attack oil vessel
    Published: May 15, 2008 at 11:10 AM
    By CARMEN GENTILE
    UPI Energy Correspondent
    Jimmy Carter and Barack Obama have called for a resolution to the conflict between rebels intent on crippling Nigeria's petroleum industry and government officials.
  • Mongolia, coal and inflation
    Published: May 14, 2008 at 7:56 PM
    By JOHN C.K. DALY
    UPI International Correspondent
    WASHINGTON, May 14 (UPI) -- Rising fuel and food costs are hitting Mongolia hard, with foreign investors exploiting the situation to pressure the country to open up its economy. Given the country's political isolation, sandwiched between China and Russia, its two major trading partners, Ulaanbaatar is being held over the proverbial barrel in negotiations with its giant neighbors, leaving its population of 2.9 million nervously awaiting further aftershocks from rising inflation.
  • Congress blocks administration from stockpiling oil
    Published: May 14, 2008 at 7:28 PM
    By ROSALIE WESTENSKOW
    UPI Correspondent
    WASHINGTON, May 14 (UPI) -- Faced with growing pressure to decrease gas prices, U.S. senators voted to stop stockpiling oil in the national reserve yesterday, but they rejected a plan to increase domestic production.
  • UPI Energy Watch
    Published: May 14, 2008 at 3:47 PM
    IEA: Developing nations cause high oil prices; New oil, gas fields will add to Indonesia supply; Australia says oil, gas tax breaks to go
» view more...

Iraq oil production, revenue up in 2007


Published: Jan. 29, 2008 at 4:48 PM
Print story
Email to a friend
Font size:
WASHINGTON, Jan. 29 (UPI) -- New data from Iraq's oil export arm finds increased production and high prices raised revenues by 31 percent to $39.8 billion in 2007, compared with 2006.

Improved output and security of the northern infrastructure helped Iraqi exports increase by 9.2 percent from 2006 to 2007, according to a revenues and quantities report from the Iraq State Oil Marketing Organization obtained by United Press International.

Iraqi exports averaged 1.49 million barrels per day in 2006, when the average price it fetched was $55.65 per barrel. Last year Iraq averaged 1.63 million bpd at $66.78 per barrel. Global oil prices gradually increased through last year and settled Tuesday at just more than $90 per barrel.

In December, Iraq exported an average of 1.82 million bpd at an average price of $83.14 per barrel, according to the SOMO report, bringing in $4.69 billion.

Nearly 90 percent of the exports went to market from the southern Persian Gulf ports. The smaller exports, of an average 187,000 bpd, flowed through the northern pipelines from Kirkuk to a Turkish Mediterranean port.

Those pipelines have been largely offline since 2003 because of regular attacks by insurgents. But repairs and a new security strategy since summer 2007 seemed to have afforded more regular output.

--

Ben Lando, UPI Energy Editor

--

(e-mail: blando@upi.com)

© 2008 United Press International. All Rights Reserved.
This material may not be reproduced, redistributed, or manipulated in any form.
Print story
Order reprints
Email to a friend
Post comment
See Also:
» Next in Energy - Briefing: Ex-corruption chief alleges Iraq oil grab