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Special statistics: Iraq lost half a billion dollars in oil revenues last month
01 March 2022
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Special statistics: Iraq lost half a billion dollars in oil revenues last month
01 March 2022
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Iraqi oil production fell by nearly 6.5 million barrels (Facebook)
Ultra Iraq - Editorial Team
On Tuesday, March 1, 2022, the Ministry of Oil announced that the revenues for the month of February amounted to more than 8.5 billion dollars.
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The average price per barrel amounted to more than 92,083 dollars during the month of February, while it reached 83,825 dollars in January
A ministry statement received by Ultra Iraq stated that "the total exports and revenues generated for the month of February, according to the preliminary statistics issued by the Iraqi Oil Marketing Company SOMO, total exports of crude oil amounted to 92 million and 790 thousand and 173 barrels, a decrease of about 6.5 million barrels from the exports of Last month, which amounted to more than 99 million barrels.
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Revenues for the past month amounted to 8.54 billion dollars, an increase of nearly 200 thousand dollars, despite the increase in the average price of a barrel of exported oil by about 10 dollars compared to last month.
According to the statement, the average price of a barrel amounted to more than 92,083 dollars during the month of February, while the average price of a barrel in January amounted to 83.825 dollars.
The increase in Iraq's revenues is less than the assumed due to the decline in production despite the increase in the price of a barrel by about 10 dollars. If Iraq maintained its production, revenues would increase to more than 9 billion dollars, calculating the same average price of a barrel of oil for the month of February.
The statement indicated that "the total quantities of crude oil exported for the month of February from oil fields in central and southern Iraq amounted to 91 million and 314 thousand and 828 barrels, while from the Kirkuk fields through Ceyhan port, the exported quantities amounted to one million and 475 thousand and 345 barrels."
He continued, "The average daily quantities amounted to 3 million and 314 thousand barrels per day."
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