Iraq earns more than $2.3 billion from oil exports in May and June

The Iraqi Ministry of Oil announced on Tuesday that the country’s crude oil exports exceeded 32 million barrels, with financial revenues amounting to more than $2.3 billion during the months of May and June, based on the final statistics of the Iraqi Oil Marketing Company (SOMO). IraqEconomic Reports

The ministry stated in a statement received by Shafaq News Agency that the total amount of crude oil exported reached 32 million, 114 thousand and 677 barrels, with revenues amounting to $2 billion, 335 million, 537 thousand and 399 dollars.

The statistics showed that the quantities exported from the Basra fields amounted to 20 million, 238 thousand, 836 barrels, while exports of Kurdistan Region oil via the Turkish port of Ceyhan amounted to 1 million, 564 thousand, 625 barrels, while the quantities exported from Kirkuk oil via the same port amounted to 10 million, 311 thousand, 216 barrels.

The release of these statistics comes after a period of not regularly disclosing export and revenue data following regional tensions that affected energy supply chains and maritime navigation in the region during the past months.

In this regard, oil expert Hamza Al-Jawahiri explained in an interview with Shafaq News Agency that the irregularity of export operations and the difficulty in stabilizing exported quantities have affected the mechanism for issuing official statistics, indicating that the lack of regular confirmation of export data limits transparency and makes it difficult to accurately assess the performance of the oil sector and the revenues achieved.

It is worth noting that the Ministry of Oil had stopped publishing regular monthly statistics on exports and revenues since the release of the report for last April.

Shafaq.com