Iraq’s oil revenues in November exceed 8 billion USD
West Qurna oil field near Basra. Photo: AP
Baghdad (IraqiNews.com) – The Iraqi Ministry of Oil announced on Thursday that oil export revenues for November exceeded eight billion USD, with an average price exceeding 82.41 USD per barrel, according to the Oil Ministry statement cited by the Iraqi news Agency (INA).
According to initial statistics issued by the State Organization for Marketing of Oil (SOMO), the total exports of crude oil during November exceeded 99.86 million barrels with revenues exceeding 8.23 billion USD, the statement mentioned.
The statement indicated that the total quantities of crude oil exported during November from oil fields in central and southern Iraq were more than 97.2 million barrels, while the quantities exported from oil fields in Kirkuk through the port of Ceyhan were more than 2.36 million barrels.
The average daily quantities exceeded 3.32 million barrels with an average price of 82.41 USD per barrel, the statement elaborated.
The Iraqi Ministry of Oil started to share information about its oil export operations and revenues out of its awareness and belief to let the information available for the Iraqi people, the statement added.
Director of Basra Oil Company (BOC), Khalid Hamza Abbas, mentioned earlier that BOC will increase its export capacities during the next phase to support the national economy.
Iraq’s oil export revenues during October 2022 exceeded 9.28 billion USD, and the total exports of crude oil exceeded 104.83 million barrels, SOMO mentioned last month.