Washington, Feb 19: Iraq 's oil export revenues could exceed $1 billion per month this year if prices hold at current levels and export capabilities are not interrupted, the Bush administration told Congress in a report on Wednesday.
The White House report said Iraq 's crude oil exports should increase significantly once a pipeline from Kirkuk to Turkey 's Ceyhan port is sufficiently secured from attacks to allow a reopening.
The report on progress in rebuilding Iraq , which Congress required in the resolution it passed authorizing the US-led invasion, also said Iraq is consuming 500,000-600,000 barrels of oil per day.
Refinery production of kerosene, diesel and gasoline remains at pre-war levels because of the sabotage of crude oil pipelines and electric power shortages, it said.
But the report said product imports have increased to meet domestic needs with the US-led Coalition Provisional Government spending $7 million to $8 million per day to import refined oil products from Turkey , Kuwait and Jordan. Bureau Report