Iraq oil exports generate over $8.3 billion in December

BAGHDAD, January 3 — Iraq oil exports totaled 108 million barrels and generated $8.3 billion in revenue in December, according to preliminary data released by the State Organization for Marketing Oil (SOMO) on Wednesday.

The Ministry of Oil released a statement, which read:

The Oil Ministry announced total exports and revenues for last December, according to preliminary statistics from the State Organization for Marketing Oil (SOMO). The total amount of exported crude oil reached 108,056,590 barrels, generating revenues of $8.316 billion.

The statistics indicated that total exported quantities of crude oil for December from oil fields in central and southern Iraq amounted to 107,592,532 barrels. Additionally, the quantities exported to Jordan reached 464,058 barrels.

The daily average of exported quantities was 3,486,000 barrels per day, with an average price per barrel at $76.96.

It is worth mentioning that the ministry, believing in the public’s right to be informed about export operations and the revenues generated, has adopted this monthly reporting procedure.