Ministry of Oil announces July’s oil exports and revenues

BAGHDAD, August 23 — Iraq’s Ministry of Oil announced on Wednesday that total oil exports and revenues in July surpassed $8 billion. The statistics were released in a statement by State Organization for Marketing Oil (SOMO).

The statement read:

The Ministry of Oil has declared the total oil exports and revenues achieved in the month of July, based on the final statistics issued by the State Organization for Marketing Oil (SOMO). The quantity of crude oil exports reached 106,755,169 barrels, with revenues amounting to $8,330,475,000.

The statistics indicated that total exported quantities of crude oil for July from oil fields in central and southern Iraq reached 105,487,610 barrels. The exported quantities from Kirkuk were 922,755 barrels, while exports to Jordan amounted to 344,804 barrels.

The average price per barrel was recorded at $78.033.

The exported quantities were loaded by 40 international companies of various nationalities, from the ports of Basra, Khor Al Zubair, the single-point moorings in the Gulf, Ceyhan port in Turkey on the Mediterranean Sea, and Kirkuk’s modern depot by tankers.

It’s worth mentioning that the ministry, with the aim of keeping the public informed about export operations and the resulting revenues, has adopted this monthly procedure.