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01/08/2017 - 19:54hs

Iraq oil exports reached USD 4.3 billion in July

The country shipped 100 million barrels of petroleum abroad last month, averaging 3.2 million barrels per day.

Baghdad – Iraq exported over 100 million barrels of oil in July, its Ministry of Petroleum said in a communiqué this Tuesday (1), grossing USD 4.3 billion in the process. The information was made public by Kuwait News Agency (Kuna).

Foreign sales averaged 3.2 million barrels per day, at an average price of USD 43.798 per barrel. Iraqi oil is sold by the State Organization for the Marketing of Oil (Somo). For the sake of comparison, Brazil’s June output was slightly less than 2.7 million barrels per day.

According to the statement, all the oil exported from Iraq last month originated from fields in central and southern Iraq. There are no records of exports from the Kirkuk field in northeast Iraq’s. The governments of Iraq and Iran are in talks for building a pipeline to ship out the product from Kirkuk.

June had seen Iraq export 98 million barrels of oil, with daily average output matching that of July – June had one day less than July.

*Translated by Gabriel Pomerancblum

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