Baghdad: Revenue from Iraq's crude oil exports rose to $4.62 billion (Dh16.9 billion) in November, the highest level this year, the State Oil Marketing Organisation said.

The average oil price for exports was $80.59 a barrel, compared with $77.10 in October and $73.07 in September, SOMO said yesterday.

Revenue from the southern oil hub of Basra climbed to the highest level this year to $3.69 billion with exports of 46 million barrels in November.

Shipments from the northern oil hub of Kirkuk, often the target of insurgent attacks, dropped to 11.3 million barrels from 12.5 million barrels in October. Sales from Kirkuk generated $925 million compared with $993 million the previous month.

Overall exports last month dropped 2.4 per cent to 57.3 million barrels, or about 1.91 million barrels a day, compared with 58.7 million barrels, or 1.89 million barrels a day, in October.

Iraq is seeking foreign investors to help boost oil production, which has suffered from insurgent attacks and lack of investment.

The government awarded 12 oil development contracts to international companies since the US-led invasion.