Kirkuk exports 2.35M barrel crude oil in July for $240M

Kirkuk, 2014: The North Oil Company that supervises the five oil fields of Kirkuk province. KirkukNow

By KirkukNow in Kirkuk

Kirkuk oil fields have exported 2.345 million barrels of crude oil to Turkey last month, earning more than $240 million American dollars (USD) for the national budget.

According to the Oil Ministry, crude oil exports from the country's fields reached 102,385,049 barrels in July 2022, earning $10.6 billion. However, Early July, Asem Jihad, Iraqi Oil Ministry spokesperson, said Iraq's oil output will reach 4.580 million barrels per day bpd as of July following an OPEC+ decision to increase production, according to the state news agency.

Iraqi crude oil was traded at over $103 per barrel.

The exports of crude oil in March have passed 100 million barrels, the highest in the last five decades, generating over $11 billion, according to figures of the state-run State Oil Marketing Organization SOMO compared.

In July, 2 million 344 thousand 536 barrels of crude oil were exported from Kirkuk oil fields to the world port of Turkey, earning more than $ 240 million at a price of $ 103 per barrel.

However, the ministry's statistics did not mention the amount of oil exported to Jordan by tanker in previous months.

Kirkuk's oil exports to Turkey declined in July compared to 2.9 million barrels in June, earning about $346 million, in addition to about 300,000 barrels by tanker to Jordan, earning more than $32 million.

Exports increased in May to more than three million barrels, earning $335 million, with about 354,000 barrels exported to Jordan for $34 million.

Exports to the world port in April 2022 were more than 2.991 million barrels, earning more than $304 million, while more than 299,000 barrels were exported by tanker to Jordan, earning more than $26 million.

There are five main crude oil producing fields in Kirkuk province; Avana, Bay Hassan, Baba Dome, Jambur and Khabaza, aa under the control of the Iraqi government's Northern Oil Company.

Kirkuk hit peak of its production in February 2021 when it has pumped 3,8 million barrels for $213M, the highest production capacity in 2021 while the lowest was in November when it has dropped to two million barrels only with 150 million USD revenues.

Kirkuk, Iraq’s second largest reserves, located 238 kilometers north of Baghdad, is an ethnically mixed province for 1,7 million Kurds, Arabs, and Turkmens. It has long been at the center of disputed territories between Baghdad and the Erbil.

Iraq’s oil reserves are considered the world's fifth-largest with 140 billion barrels.

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