[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Monday, 26 June 2006, 11:19 GMT 12:19 UK
Iraq oil output hits a new high
Iraqi oil workers
Iraq is aiming to overtake rival oil producer Saudi Arabia
Oil production in Iraq has hit its highest level since former leader Saddam Hussein was ousted in 2003.

Production has risen to 2.5 million barrels per day (bpd) from a steady 2 million bpd during the US-led invasion, Iraq's new oil minister said.

Hussain al-Shahristani added that production was expected to rise to 2.7 million bpd by the end of the year.

"We have been able to break records," he said of the government, which has been in place for just over a month.

Before the war, output was around 3 million bpd, peaking at a record of 3.5 million bpd.

During an interview with CNN, Mr Shahristani said that Iraq's target now was to challenge Saudi Arabia's position as the world's leading oil producer.

To that end the oil minister said he expected output to rise to approximately 4m barrels per day by 2010, increasing to 6m bpd by 2012.

G8 ministers voice oil price fear
09 Jun 06 |  Business
Oil prices fall on Zarqawi death
08 Jun 06 |  Business
Oil prices rise after kidnappings
02 Jun 06 |  Business
Opec set to steady oil production
30 May 06 |  Business
Iraq oil hit by graft and attacks
25 Apr 06 |  Business

The BBC is not responsible for the content of external internet sites

Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit


Americas Africa Europe Middle East South Asia Asia Pacific