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Monday, January 3, 2011     GET REAL

Iraq achieves highest crude oil output since 1990

BAGHDAD — Iraq has reported an increase in crude oil production.


Officials said Baghdad has achieved an oil output of more than 2.6 million barrels a day, the highest level since 1990.

The officials said Iraq would continue to raise production to beyond four million barrels per day.

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"We know that developing Iraq's economy and providing funds for finishing projects and providing jobs for people all depend on revenue from oil," Iraqi Oil Minister Abdul Karim Al Luaybi said.

Al Luaybi said the Oil Ministry would reactivate exploration teams to bolster oil production, Middle East Newsline reported. The minister said Iraq would also refurbish and expand natural gas fields, pipelines and refineries over the next five years.

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