The Five oil fields of Kirkuk has exported less than three million barrels in September for 200 million American Dollars USD compared to $3 millions in August, Iraqi ministry of oil said.
Kirkuk has produced about 96,000 barrels a day, total 3,012,435 in July, 3,004,309 barrels in August yet it has dropped to 2,922,867 in September.
The northern oil rich city of Kirkuk hit peak of its production in February when it has pumped 3,8 million barrels for $213M, the highest production capacity in 2021.
Early 2020, Kirkuk was exporting only 1,1 million barrels exported to the Turkish Mediterranean port of Ceyhan by a pipeline crossing Iraqi Kurdistan.
Iraq oil exports have dropped to 92,422,485 in September for $6.7 billion compared to 94,660,239 barrels in August while in July 90,467,794 barrels were exported, making over $6.5 billion revenues in July and August each. Prices for Kirkuk oil has dropped from $70.6 in July to $66.6 August while it was marketed for $70 per barrel last month.
Kirkuk, Iraq’s second largest reserves, located 238 kilometers north of Baghdad, is an ethnically mixed province for 1,6 million Kurds, Arabs, and Turkmens. It has long been at the center of disputes between Baghdad and the Erbil.
Kirkuk oil exports stopped from July 2017 to first quarter of 2019 due to a standoff between the Iraqi government and Kurdistan regional Government KRG.
As Iraqi forces took over power in Kirkuk in October 2017, the federal government has controlled the five oil fields of Kirkuk: Havana, Bai Hassan, Khabaza, Jambor and Qubai Baba, managed by the state-run North Oil Company.
The Iraqi Oil Ministry announced that Iraq and Turkey are going to reopen the 970-kilometer-long pipeline that transports Iraqi crude from Kirkuk to export facilities in Ceyhan on the Mediterranean coast.
Oil revenues have earned $33 billion for Iraq in the first half of 2021. China was the main client of Iraq oil including $4,8 billion of Kurdistan region, said the State Oil Marketing Organization SOMO.
Last month, the Organization for Petroleum Exporting Countries (OPEC) has eased production limits for Iraq and other countries.Iraq backs a proposal by OPEC and its allies to extend a pact on output curbs until December 2022 in order to keep oil prices at $70 per barrel or above until then.
Apart from petroleum, the founder member of the organization for petroleum exporting countries OPEC has other natural resources including natural gas, phosphates and sulphur.