ANL 33.56 Decreased By ▼ -0.56 (-1.64%)
ASC 15.06 Increased By ▲ 0.26 (1.76%)
ASL 23.68 Decreased By ▼ -0.64 (-2.63%)
AVN 91.50 Increased By ▲ 0.28 (0.31%)
BOP 7.91 Increased By ▲ 0.12 (1.54%)
BYCO 9.97 Decreased By ▼ -0.24 (-2.35%)
DGKC 120.48 Decreased By ▼ -1.02 (-0.84%)
EPCL 53.50 Decreased By ▼ -1.65 (-2.99%)
FCCL 23.80 Decreased By ▼ -0.44 (-1.82%)
FFBL 27.64 Decreased By ▼ -0.46 (-1.64%)
FFL 15.75 Decreased By ▼ -0.41 (-2.54%)
HASCOL 9.40 Decreased By ▼ -0.10 (-1.05%)
HUBC 77.90 Increased By ▲ 0.20 (0.26%)
HUMNL 6.34 Decreased By ▼ -0.13 (-2.01%)
JSCL 21.15 Increased By ▲ 0.75 (3.68%)
KAPCO 39.84 Decreased By ▼ -0.16 (-0.4%)
KEL 3.77 Decreased By ▼ -0.05 (-1.31%)
LOTCHEM 15.68 Decreased By ▼ -0.22 (-1.38%)
MLCF 45.00 Decreased By ▼ -1.15 (-2.49%)
PAEL 34.10 Decreased By ▼ -1.80 (-5.01%)
PIBTL 10.20 Increased By ▲ 0.05 (0.49%)
POWER 8.93 Decreased By ▼ -0.21 (-2.3%)
PPL 84.60 Decreased By ▼ -0.60 (-0.7%)
PRL 23.99 Decreased By ▼ -0.31 (-1.28%)
PTC 9.49 Decreased By ▼ -0.01 (-0.11%)
SILK 1.44 Decreased By ▼ -0.01 (-0.69%)
SNGP 40.50 Decreased By ▼ -0.90 (-2.17%)
TRG 173.00 Increased By ▲ 7.99 (4.84%)
UNITY 32.37 Decreased By ▼ -0.28 (-0.86%)
WTL 1.62 Decreased By ▼ -0.11 (-6.36%)
BR100 4,865 Decreased By ▼ -7.01 (-0.14%)
BR30 25,552 Decreased By ▼ -33.9 (-0.13%)
KSE100 45,307 Decreased By ▼ -93.24 (-0.21%)
KSE30 18,503 Decreased By ▼ -29.44 (-0.16%)

Coronavirus
VERY HIGH
Pakistan Deaths
16,600
14824hr
Pakistan Cases
772,381
549924hr
Sindh
274,196
Punjab
276,535
Balochistan
21,127
Islamabad
70,984
KPK
108,462

imageBAGHDAD: Iraq's oil exports in 2013 declined compared with the previous year, new figures showed on Wednesday, despite the country's efforts to dramatically ramp up crude sales to fund much-needed reconstruction.

Exports in December recovered from multi-month lows earlier in the year, but were still below their peak, with overall exports and revenues for the year lower than similar figures for 2012, according to oil ministry data compiled by AFP.

Overall, Iraq exported 72.6 million barrels of oil in December, an average of 2.34 million barrels per day (bpd), bringing in revenues of $7.47 billion (5.5 billion euros).

Those figures were higher than in November, and also represented marked increases on September, when Iraq managed to export just 2.07 million bpd.

"The exports and income in December was an increase... even though there was bad weather and technical repairs in the southern ports," oil ministry spokesman Assem Jihad said in a statement.

Jihad also said efforts to remove remnants of decades of war from the Shatt al-Arab waterway in south Iraq, through which the country ships the lion's share of its exports, had held back overall sales.

But despite the recovery, oil sales in 2013 represented a decline compared with 2012.

Iraq exported a total of 872.3 million barrels of oil last year, or 2.39 million bpd, compared with 2.42 million bpd in 2012, according to oil ministry figures.

Annual revenues dipped to $89.22 billion in 2013 from $94.02 billion the previous year.

Overall production averaged 3.07 million bpd, according to an International Energy Agency (IEA) report.

Iraq relies on oil exports for nearly all of its government revenue, and crude sales account for most of the country's GDP.

Baghdad is seeking to dramatically ramp up exports in the coming years to fund desperately needed reconstruction of Iraq's conflict-battered infrastructure and economy.

Officials are aiming to increase production capacity to nine million barrels per day by 2017, a target that the International Monetary Fund and IEA have warned is over-optimistic.