São Paulo – Iraqi oil exports generated US$ 48.6 billion in revenues in the first seven months this year. The information was supplied by the Iraqi Ministry of Oil and reproduced by news agencies Aswat al-Iraq and Qatar News Agency (QNA).
In July alone, foreign sales fetched US$ 7.311 billion. A total of 67.2 million barrels were shipped during the month. The Basrah region accounted for US$ 5.739 billion in exports, and Kirkuk, for US$ 1.572 billion. The average barrel price stood at US$ 108.795.
According to the QNA, the Ministry of Oil informed that the industry should export the equivalent of more than US$ 80 billion this year, and these revenues are aiding the government in lowering the budget deficit and funding a host of projects.
Aswat al-Iraq added that the spokesperson for the ministry, Assim Jihad, stated that the organization is working to boost foreign sales even further.
According to figures supplied by the Ministry of Development, Industry and Foreign Trade, Brazilian imports of Iraqi oil reached US$ 364 million in the first seven months of 2011, as against US$ 523 million during the same period of last year. The commodity is the only Iraqi product imported by Brazil.
On the other hand, sales of Brazilian products to Iraq generated US$ 164 million in revenues from January to July, as against US$ 141 million in the first seven months of 2010. The main items shipped were meats and sugar.
*Translated by Gabriel Pomerancblum
