Iraq’s oil exports rose to an average of 1.6 million barrels a day during July, and has invited bids to build new refineries to cope with fuel shortages hitting the country, the oil minister said Monday. Ibrahim Bahr al-Uloum said Iraq’s crude exports had been 1.44 billion barrels a day for June. He said Iraq earned about $2.5 billion from oil sales abroad last month. The minister said the country, which lacks enough refineries, is spending $300 million to import refined oil products to face fuel shortages. Full Story
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