Iraqi Ministry of Oil announces "unprecedented" increase on daily revenues last May

according to preliminary statistics issued by the Iraqi Oil Marketing Company "SOMO".

A statement by the Ministry of Oil quoted its speaker Issem Jihad, received by “Shafaq News, "the total quantity of oil exports amounted more (97.504) ninety-seven million five hundred and four thousand barrels, while achieved revenue was amounted to more than (5) five billion dollars.

He stressed that daily exports of crude oil rate rose, reaching approximately (3.145) three million which has not been achieved during the past decades.

He added the total volume of oil exports and revenue achieved for May rose from one of the southern ports in Basra and reached more than (83.520) three and eighty-five hundred and twenty million barrels, while total exports through the northern ports / Ceyhan reached (13.984) thirteen million nine hundred and eighty-four thousand barrels.

Issem added that the average selling price also rose in March compared to the previous month, reaching 55 dollars per barrel.

He said that amounts above have been loaded by the international oil companies that carry different nationalities from the ports of Basra and Khor al-Amaya and buoys on the Arabian Gulf and the Turkish port of Ceyhan.

He noted that the ministry has made a special effort to increase its exports of crude oil as compensation for the disabled tanker loading for days due to bad weather from the southern ports.