Iraq's oil revenues reach their highest levels

Iraq recorded the highest oil revenues during June this year, the country's Ministry of Oil announced on Friday.

The Ministry of Oil has revealed in a statement the total exports and revenues of last June, based on the initial statistic of Iraqi Oil Marketing Company (SOMO), where the total exported crude oil quantities is 101,191,236 (or about 101.2 million) barrels, with total revenue of 11.505 billion dollars. 

It also said that the total exported crude oil quantities, last June, from the oil fields of southern and central Iraq reached 97,980,589 (or around 98 million) barrels, while exported quantities from Kirkuk fields through the port of Ceyhan reached 2,910,887 (or around 3 million) barrels. 

Exports daily rate reached 3,373,000 (around 3.4 million) barrels per day with an average price of more than 113.70 dollars per barrel.

Iraq is the 6th largest oil producer in the world and largely relies on oil sales for maintaining the economy. It is also ranked 5th in having the largest oil reserves in Iraq.



PUKmedia