Iraq Crude Oil Exports Reaches 3.572 Million bpd in May

Published June 2nd, 2019 - 12:00 GMT
Iraq exported 106.6 million barrels from the country’s central and southern oil fields.
Iraq exported 106.6 million barrels from the country’s central and southern oil fields. (Shutterstock)
Highlights
The total average of the daily rate of exports amounted to 3.572 million barrels

Iraq’s average crude oil exports to the world markets have amounted to 3.572 million barrels per day in May, passing through southern Iraq and Turkey’s Ceyhan ports, according to the Oil Ministry’s official spokesman Assem Jihad. 

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The total average of the daily rate of exports amounted to 3.572 million barrels, Jihad said in a press statement, explaining that 3.441 million barrels are exported from Basra port, 102,000 barrels from Ceyhan port and 29,000 barrels from Qayyarah oilfield.

“Iraq exported 106.6 million barrels from the country’s central and southern oil fields, and 3.16 million barrels from the northern province of Kirkuk, in addition to 894,528 barrels of oil from Qayyarah Oil Field in the northern province of Nineveh,” he added.

He also pointed out that Iraq’s oil exports have achieved financial revenues exceeding $7.384 billion, and the average selling price was 66.6 dollars per barrel in May.

The Ministry lifted the state of emergency declared at Majnoon oilfield as a precautionary measure after the end of risks from floods that swept the country during the current spring and winter seasons.

The floods didn’t have a major impact on production at the field, which runs at 240,000 barrels per day, Oil Minister Thamer Ghadhban said in a statement on Saturday.

State-run Basra Oil Co. took over the operations at the field after the withdrawal of Royal Dutch Shell last year.

Iraq has announced plans to boost output from Majnoon to 450,000 barrels per day (bpd) in 2021.


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