Thursday, September 29, 2022

Baghdad

Iraqi Oil Ministry reveals May crude oil exports, revenues

 Iraqi Oil Ministry reveals May crude oil exports, revenues

An oil field in Iraq. AP image.

Baghdad (IraqiNews.com) – The Iraqi Ministry of Oil revealed on Wednesday the initial statistics of its exports of crude oil and the revenues of May 2022.

In a statement issued by the Iraqi Ministry of Oil, the State Organization for Marketing of Oil (SOMO) which is the Iraqi national company responsible for marketing Iraq’s oil, exported more than 102.3 million barrels of crude oil with revenues exceeded 11.43 billion US dollars.

The statistics indicated that the exported quantities of crude oil for May from oil fields in central and southern Iraq exceeded 98.9 million barrels. Moreover, the quantities produced from Kirkuk oil fields and exported through Ceyhan Port exceeded three million barrels.

The average quantity exported per day was 3.3 million barrels, and average price per barrel was 111.79 US dollars.

The Iraqi Ministry of Oil started to share information about oil export operations and revenues out of its awareness and belief to let the information available for the Iraqi people.