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Oil: More Than $ 8 Billion Iraq's Oil Revenues For The Past Month


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Oil: More than $ 8 billion Iraq's oil revenues for the past month - Earth News (earthiq.news)

 

Oil: More Than $ 8 Billion Iraq's Oil Revenues For The Past Month

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01/12/2022

The Ministry of Oil announced on Thursday that Iraq's revenues for the past month amounted to more than $ 8 billion, indicating that the average price per barrel amounted to more than (82.417) dollars.

The ministry said in a statement, reported to Earth News, that "according to the preliminary statistics issued by the Iraqi Oil Marketing Company (SOMO), where the total amount of crude oil exports for the month of November reached (99) million (867) thousand and (946) barrels, with revenues amounting to (8.231) billion dollars."

She added that "the total quantities exported of crude oil for the month of November from the oil fields in central and southern Iraq amounted to (97) million and (204) thousand and (696) barrels, either from the fields of Kirkuk through the port of Ceyhan, the exported quantities amounted to (2) million and (363) thousand and (20) barrels," noting that "the average daily quantities exported amounted to (3) million and (329) thousand barrels per day."

She confirmed that "the average price per barrel amounted to more than (82.417) dollars."

It is noteworthy that the Ministry of Oil, through its belief in informing the people of the export operations and revenues achieved from it, took this monthly measure.

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Iraq’s oil revenues in November exceed 8 billion USD

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.

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