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Iraq's oil exports amount to +260 million barrels on 2021 Q1, SOMO says

Category: Economy

Date: 2021-05-04T09:27:30+0000
Iraq's oil exports amount to +260 million barrels on 2021 Q1, SOMO says

Shafaq News/ Iraq's oil exports in the first quarter of 2021 amounted to more than 260 million barrels, with China and India at the top of importers' list, the State Oil Marketing Organization (SOMO) said.

According to the quarterly report published on SOMO's official website, Iraq exported 263,112,383 barrels, averaging 87,704,000 barrels a month and 2,923,000 a day.

Revenues from oil sales in the first three months of 2021 stood at $15,564,000,000, averaging $5,188,000,000 a month. The weighted average price of a barrel of oil was $59.15.

Oil of central and southern fields exported via Basra ports in 2021's first quarter amounted to 253,216,000 barrels, at a value of $14,994,000,000. Exports from Kirkuk via Ceyhan port amounted to 9,896,000 barrels, valued at $569,567,000.

Chinese and Indian companies were the top buyers of Iraqi oil, according to the data published by SOMO.

70% of Iraq's oil exports go to Asia. The rest is imported by the US and European markets.

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