Iraq’s oil revenues in May surpass $7.3 billion
A worker walks at the Majnoon oil field, near Basra, Iraq. Photo: Reuters
Baghdad (IraqiNews.com) – The Iraqi Ministry of Oil announced on Thursday that oil export revenues during May exceeded seven billion USD.
According to row data issued by the State Organization for Marketing of Oil (SOMO), the total exports of crude oil during May exceeded 102.46 million barrels, with revenues slightly exceeding 7.3 billion USD.
SOMO data revealed that the total quantities of crude oil exported during May from oil fields in central and southern Iraq were more than 102.2 million barrels, while the quantities exported from oil fields in Kirkuk through the Turkish port of Ceyhan were nearly 1.73 million barrels.
The average price per barrel was more than 71.3 USD.
The average daily quantity exported from Iraq exceeded 3.3 million barrels.
Iraqi oil exports are loaded by international companies from ports on the Arabian Gulf and through the Turkish port of Ceyhan.
Last month, oil exports were resumed from the Kurdistan region of Iraq through the Turkish port of Ceyhan, more than a month after they stopped, and after Baghdad and Erbil reached a settlement on this issue that worsened relations between the two sides for years.
In April, Iraq’s oil export revenues exceeded $7.69 billion, according to an official statement.
The total exports of crude oil during March exceeded 100.9 million barrels, with revenues slightly exceeding 7.5 billion USD.