Iraq's July Oil Exports Dip on Lack of Shipments from Kirkuk

Source: Reuters 8/1/2017, Location: Middle East

Iraq's oil exports fell to 3.230 million barrels per day in July from 3.273 million bpd in June as no shipments were made from the northern Kirkuk field, the oil ministry said.

The volume announced by the ministry accounts for shipments from the fields supervised by the central government in Baghdad, and does not include those from the autonomous Kurdish region in northern Iraq.

All the volumes sold in July came from the southern fields and none from Kirkuk, the only field supervised by the government in north, the statement said. In June, Iraq shipped 677,413 barrels from Kirkuk, an average of 22,000 bpd.

The average sale price in July was $43.80 per barrel, generating $4.386 billion in revenue, the statement said. Iraq generated $4.13 billion from oil sales in June and sold its crude for $42 per barrel, the ministry said. Iraq is the second largest OPEC producer after Saudi Arabia.

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