Iraqi oil revenue in April declines by 72 percent compared to February

Kirkuk, North Oil company, 2014. Photo: KirkukNow


Iraqi oil revenue in April has sharply dropped by 72 percent compared to February, selling each barrel of oil at 13 dollars.

Iraqi oil export in April was over 103 million barrels of oil, generating a revenue of one billion and 423 million dollars.

Meanwhile, the oil revenue in March was nearly three billion dollars and in Februray was five billion and 52 million dollars.

The figures show that the Iraqi oil revenue in April has declined by 72 percent comparted to the oil revenue of February due to the oil price collapse.

Each barrel of Iraqi crude oil was sold at the price of $ 13.801.

Assim Jihad, the spokesperson of the Ministry of Oil, revealed that two million, 287 thousand and 165 barrels of oil, equivalent to 76 thousand barrel per day, were exported from Kirkuk’s oil fields to Turkey through Kirkuk-Ceyhan oil pipeline.

But in March, three million, 287 thousands, and 439 barrels of oil were exported, which is equivalent to a daily export of 106 thousands.

The statement also indicates that 325 thousand and 3019 barrels of crude oil were exported through oil trucks to Jordan per both government’s agreement.

There are five oil fields in the Kirkuk province, which are Havana, Bay Hassa, Qaubai Baba, Jambur, and Khabaza. The oilfields are under the control of the Nothern Oil Company, which is under the administration of the Federal government.

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