Iraq's SOMO: July oil exports reached 106,755,169 barrels

Shafaq News/ The Iraqi Oil Marketing Company (SOMO) disclosed its oil export and financial revenues for July.

In a statement, SOMO said the total crude oil exports reached 106,755,169 barrels, generating revenues of $8,330,475,000.

Central and southern Iraq's oil fields contributed significantly to the exports, totaling 105,243,722 barrels. The Qayyarah field added 922,755 barrels, while the Kirkuk warehouse facilitated exports to Jordan, amounting to 344,904 barrels.

The data also highlighted that the average price per barrel stood at $78.033.

The exported quantities were facilitated by 40 international companies of diverse nationalities, utilizing the ports of Basra, Khor Al-Zubayr, and Al-Awamat.

Iraq is a major oil producer with the world's fifth-largest proven oil reserves. In 2022, Iraq produced an average of 4.4 million barrels of oil per day (bpd), making it the 11th-largest oil producer in the world. Iraq's oil exports account for about 90% of the country's export earnings.