Iraq Business Report

Last updated at 02/01/2018

Iraq exported 109.5 million oil barrels in December: ministry

Iraq exported more than 109 million oil barrels during the month of December, the Iraqi oil ministry declared on Tuesday.

Pointing to a “record” rise in exports and revenues, the ministry said a preliminary statistic from the state-run marketing company, SOMO, crude oil exports stood at more than 109.573 barrels.

Those, according to the oil ministry spokesperson Assem Jihad, yielded revenues more than USD 6.496.203 billion.

The statistic, again, did not mention exports from oil fields in the province of Kirkuk.

Daily exports recorded a rise to 3.535 million barrels, an increase from the rate recorded during November, the spokesman noted.

The price per barrel stood at an average of USD59.286, he revealed.

Iraq exported crude oil worth USD6.83 billion during the month of November, the country‌s marketing company said in a recent statistic.

The State Oil Marketing Organization (SOMO) said that was the worth of 105.51 million barrels exported during the month, with an average price per barrel of  USD57.194.

The statistic put the daily export rate at 3.503 million barrels.

Iraq‌s oil ministry had unveiled intentions to drive up crude oil production to five million barrels a day before the end of 2017.

Iraq is OPEC‌s second largest oil producer following Saudi Arabia.

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