Economics
Ministry of Oil releases final statistics for August exports, revenue
The Ministry of Oil announced the final statistics for August’s oil exports and revenues on Tuesday (September 25). A spokesman for the ministry, Assem Jihad, said in a statement that according to the final statistics issued by the State Organization for Marketing of Oil (SOMO), the country exported 111,061,000 barrels of oil and took in revenues of $7,735, 548,000 from the central and southern fields. The statistics did not record any exports from the Kirkuk fields. Jihad said that the average price of a barrel was $69.651 dollars, adding that "the exported quantities were loaded by 37 international companies from the ports of Basra and Khor al-Amaya and on the Gulf." In July, Iraq exported 109,859,705 barrels, which generated over $7.5 billion in revenue. The average sale price of a barrel in August was $56.668, according to the statement.
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