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Iraq Crude Output at Highest Since 1979, Oil Minister Says

Iraq is pumping more than 3 million barrels a day of crude, its highest average output since Saddam Hussein seized power in the country 33 years ago, the oil minister said.

BP Plc and Schlumberger Ltd. have made separate bids to develop the Kirkuk oil field in northern Iraq, Abdul Kareem al-Luaibi said today at a news conference in Baghdad. The oil ministry is studying offers to boost dwindling production at the field, one of the country’s oldest, he said.