Business

Iraq sees lower oil exports but high revenues in June


Author: 
Matt Brown
ID: 
1626963721553244500
Thu, 2021-07-22 17:15

Iraqi oil exports fell slightly last month but revenues were boosted thanks to higher prices, according to the Iraq Oil Report citing the ministry of oil.

Iraq’s nationwide exports averaged 3.336m b/d in June, the newsletter said, while total revenues came in at just over $6bn.

The report said that exports by the federal government in Baghdad in June were 2.892m b/d, slightly lower than 2.899m b/d in May.

Under a complex arrangement, the Kurdistan regional government in the north of the country exported just over 100,000 b/d through the pipeline to the Turkish port of Ceyhan.

Iraq is the second largest producer in the Opec group of oil exporting countries and is reliant on hydrocarbon earnings for nearly all government revenues. The country is home to the world’s fifth largest proven crude oil reserves, according to the US Energy Information Administration.

Main category: 

UK sanctions former Iraqi governor for embezzling fundsGenerator business thrives in Iraq amid power cutsSaudi commerce minister reveals plans for joint Iraqi investment company



READ SOURCE

See also  Thailand cuts 2020 economic growth forecast amid Wuhan virus spread

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.