Iraq’s February oil exports beyond 95 mn barrels: ministry

FILE PHOTO: Flames emerge from flare stacks at the oil fields in Basra, Iraq, January 17, 2017. REUTERS/Essam Al-Sudani/File Photo

Baghdad ( Iraq exported more than 95 million barrels of oil during the month of February, with revenues exceeding USD5 billion, the oil ministry said Thursday in a preliminary statistic.

The statement, quoting numbers provided by the state-owned oil marketing company, SOMO, said  crude oil exports from Iraq stood at 95.940.404 barrels.

Those, according to the statement, made revenues worth USD5.796.532.000.

The rate per barrel stood at USD60.137,  the statement noted, adding that the daily export rate was 3.426 million barrels.

The statement added that no revenues were recorded from Kirkuk oil fields as activity remains halted since Iraqi forces took over the province’s facilities from Kurdish forces responding to a September referendum held by Kurdistan Region in which a majority voted for independence from Iraq, a step which Baghdad deemed unconstitutional. Kurdish troops held the province since Islamic State members occupied a third of Iraq starting 2014.

Recent reports  have said Baghdad and Erbil had agreed to the resumption of oil exports from Kirkuk.

Iraq says it sold more than 108 million barrels of oil in January, not including Kirkuk’s output.

Iraq is the second biggest producer of oil among the world’s oil exporters body, OPEC, coming after Saudi Arabia.

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