BAGHDAD, Jul 2 (NNN-NINA) – Iraq exported about 100.59 million barrels of crude oil in Jun, generating 7.1 billion U.S. dollars in revenue, the country’s Oil Ministry announced, yesterday.
The average price for Iraqi crude oil in Jun was 71.1 dollars per barrel, the ministry said in a statement, citing statistics from the State Organisation for Marketing of Oil, an Iraqi company.
About 98.72 million barrels were exported from oil fields in central and southern Iraq, via the port of Basra, and nearly one million barrels from the Qayyara oilfield in the northern province of Nineveh, and 299,445 barrels were sent to neighbouring Jordan, during the month.
Oil exports from the northern province of Kirkuk via the Turkish port of Ceyhan, on the Mediterranean, are suspended after Baghdad won an arbitration case against Türkiye, in late March, over a long dispute on the independent export of oil by Iraq’s semi-autonomous Kurdistan Regional Government.
On Apr 4, the Iraqi federal and Kurdistan Regional Government, signed an interim agreement to resume Kurdish oil exports via Türkiye. But Türkiye continued to halt the oil flow, saying it wants to negotiate the arbitration before oil exports resume.
Iraq’s economy heavily relies on crude oil exports, which account for more than 90 percent of the country’s revenues.– NNN-NINA