New Iraq oil exports by Jan. 31

Iraq's Oil Ministry announced a timeline to bring new exports online, as well as its first new oil field discovery in 30 years, and 2011 oil and revenue statistics.
Iraqi Oil Minister Abdul Karim al-Luaibi holds a jar of crude from the newly discovered Dima oil field in Missan province during a press conference Jan. 18, 2012, at the Oil Ministry in Baghdad. (BEN LANDO/Iraq Oil Report)

BAGHDAD - Tankers will start loading crude from new export terminals by Jan. 31, marking the completion of the first phase of a southern oil export expansion project.

"This is the most important project to be implemented in Iraq – not only in the oil sector but all of Iraq," said Oil Minister Abdul Karim al-Luaibi at a press conference Wednesday.

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