Iraq March Oil Revenue Up 12% On Month At $5.644 Billion - Ministry
AMMAN -(Dow Jones)- Revenues from Iraq's oil sales rose 12% in March despite Iraq exporting more crude oil in February, oil ministry figures seen by Dow Jones Newswires Wednesday show.
Iraq's oil revenues in March totaled $5.644 billion, compared with $5.037 billion in February, the ministry said.
Iraq exported 59.4 million barrels in March, or 1.92 barrels a day, compared with 56.1 million barrels, or 1.93 million barrels a day, in February, it said.
The increase in revenues is attributed to soaring world crude oil prices which opened above $120 a barrel Tuesday, rising in recent trading to $121.85, or 1.6% above Monday's close.
A U.S. government report to be released Wednesday projected Iraq's oil revenue to top a record $70 billion this year. The report, from Special Inspector General for Iraq Reconstruction Stuart Bowen, said Iraq earned more than $18 billion from oil sales in the first quarter 2008.
-By Hassan Hafidh, Dow Jones Newswires; + 962 799 831831; hassan.hafidh@ dowjones.com
