The Iraqi Oil Ministry clarified on Thursday that Iraq exported 411 million barrels of oil in the first seven months of this year had a revenue of $ 43 billion.
Assem Jihad the ministry spokesman, stated: "we expect if the situation remains as it is to increase the income over 70 billion dollars this year."
Iraq has increased the oil production this year due to more stable flows from the north, where sabotage has kept technical troubles and breakdowns in the past very little.
The exports in May reached 1.99 million barrels per day and was the highest since the U.S. invasion of Iraq in 2003. The exports of June and July was slightly lower.
Iraq possessed the third largest oil reserves in the world and increasing the revenues from Iraq's oil export, it is anticipated that the budget surplus to grow about 50 billion dollars in 2008.
(Iraq Directory)
