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Iraq notched +88bn dollars from crude sales in December, Ministry of Oil says

Category: Economy

Date: 2021-01-19T13:22:56+0000
Iraq notched +88bn dollars from crude sales in December, Ministry of Oil says

Shafaq News/ Iraqi oil exports in December amounted to 88, 211,750 barrels with revenues of 4, 235, 313,000 dollars, according to a statement by the Iraqi Ministry of Oil.

The statement elaborated that central and southern Iraq fields exports stood at 85,195, 608 barrels, at a net value of 4,089, 041,000 dollars. While the exported quantities of Kirkuk oil through the port of Ceyhan were 3,016,142 barrels, netting a total of 146, 272,112 dollars.

The ministry added that it yielded 96, 443,633 dollars from commissions on crude Oil shipments.

The barrel averaged 48.013 dollars over the past month.

Iraq is the second-largest producer of crude in the "OPEC" after Saudi Arabia, with a daily average of 4.6 million barrels in normal conditions. Crude oil sales are the primary income of the Iraqi Treasury with a 90% to its budget.

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