Iraq 's economy : Our oil exports in 2017 touched 60 billion dollars

by **Rocky** Fri 05 Jan 2018, 3:03 pm

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Iraq 's economy : Our oil exports in 2017 touched 60 billion dollars

by Rocky Fri 05 Jan 2018, 3:03 pm

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Iraq 's economy : Our oil exports in 2017 touched 60 billion dollars[/size]
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10 hours ago

Iraq exported about 207 billion barrels of oil last year worth about $ 60 billion at a monthly average price of $ 49 and 214 cents per barrel of oil.
The oil marketing company "Sumo" of the Iraqi Oil Ministry said in a report on Friday that the total oil exports for 2017 amounted to 207 billion and 55 thousand barrels at a monthly export rate of 100 million and 629 thousand barrels and the rate of 3 million and 246 thousand barrels per day.
She pointed out that the revenues from sales of crude oil amounted to 59 billion and 552 million dollars and the rate of 4 billion and 962 thousand dollars per month. She explained that the average monthly selling price of crude oil reached 49 dollars and 214 cents per barrel of oil.
The Iraqi company said that the total exports of oil from the ports of southern Basra amounted to one billion and 201 million and 823 thousand barrels, while the rates of oil exports across the northern line of five million and 800 thousand barrels per month .. He indicated that the average number of companies that bought Iraqi crude oil amounted to 44 global companies.
The Iraqi oil exports from the southern ports recorded unprecedented rates and a record increase in the investment of the crude gas accompanying the oil operations in the Basrah Gas Project by up to 80% in difficult economic conditions.
Iraqi Oil Minister Jabbar Ali al-Luaibi confirmed the high daily export rates of oil from the southern ports to 3 million and 535 thousand barrels per day during the month of December last year, describing them at an unprecedented export rates.
He added that "the ministry had taken earlier in last year a decision to increase the quantities of crude oil pumping from the southern ports in order to achieve an increase in financial revenues and to support the federal budget compensation for the interruption of exports through the northern port.
He pointed out the achievement of an unprecedented increase in the investment of crude gas associated with oil operations in the Basrah Gas project by up to 80% in early January of the new year 2018 compared to the same month of 2017 and the investment capacity of this project to the rate of 900 million standard cubic feet Per day.
He talked about another increase in the investment of raw gas from the fields of the South Gas Company and the Missan Oil Company to reach the rate of 230 million standard cubic feet per day, pledging to achieve other achievements during the new year 2018.

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