Iraq oil exports in Dec down to 2.35m bpd 

(MENAFN) Iraq's oil ministry stated that the country's oil exports declined in December to an average of 2.35 million barrels per day (bpd), reported Gulf News.

The ministry attributed the drop to the bad weather and the raw with the Kurdish region.

It noted that in recent months, the Kurdish region decided to reduce oil exports from more than 100,000 bpd to less than 5,000 bpd over a payments dispute with the central government of Baghdad

The country sold its oil at an average cost of USD103.72 per barrel.

The ministry said that income from oil exports jumped 13 percent in the year, reaching USD94.03 billion.

At the start of 2012, oil exports averaged around 2.1 million bpd, however, they grew to around 2.6 million bpd eventually.

It is worth noting that the country's proven reserves of oil and gas stand at 143.1 billion barrels and 3.2 trillion cubic meters, respectively.