Kirkuk exported 3.1 million oil barrels in February for $235 million

Kirkuk's North Oil Company supervises the five oil wells of Kirkuk, the northern, oil-rich city. KirkukNow

By KirkukNow

The Northern oil rich city of Kirkuk has exported over three million barrels of crude oil last February, generating over 235 million American Dollars USD, statement by Iraqi oil ministry.

Kirkuk oil exports to the Turkish port of Ceyhan via pipelines during the past month amounted to more than 2.834 million barrels, with revenues exceeding $215 million, according to international oil prices.

Exports to Turkey during January amounted to 2.5 million barrels, with revenues exceeding 180 million American dollars USD, while it has exported the same quantity in January 2022 for over 200 million USD.

According to the statistics of the Iraqi Ministry of Oil and the State Oil Marketing Organization SOMO, the total crude oil exports from all Iraq’s oil fields for the month of February amounted to 92,255,610 barrels, with revenues estimated at more than $7 billion.

The average price per barrel of Iraqi crude oil last month reached more than 76 dollars. January exports hit 101.245 million barrels, with revenues estimated at 7.69 billion USD.

According to preliminary statistics from SOMO; Kirkuk oil exports to Jordan by tanker reached more than 280,000 barrels this month, earning about $20 million.

Crude oil exports from the Kirkuk fields through pipelines and tanks during the past year amounted to more than 29.5 million barrels, with revenues exceeding 2.8 billion USD.

The statement indicated total quantities of crude oil exported during February from oil fields in central and southern Iraq exceeded 89.14 million barrels. The average daily quantities exported were more than 3.29 million barrels, for $76.75 per barrel, the statement elaborated.

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

Kirkuk, Iraq’s second largest reserves, located 238 kilometers north of Baghdad, is an ethnically mixed province for 1,7 million Arabs, Kurds 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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