Kirkuk oil exports jump to 105,000 bpd
Oil revenues reach US$ 2 million per month

Kirkuk- Flames emerge from flare stacks at a state-run oilfield, 2014 Photo: Karwan Salehi

KirkukNow- Kirkuk

The volume of oil exports from Kirkuk oilfields to the Turkish Ceyhan port have increased 500 thousand barrels during the past two months, netting US$ 400 million.

According to a statement by the Iraqi ministry of oil, an average of 105 million bpd of crude oil was exported from national oilfields in June 2019, with an estimated US$ 6 billion in revenues.

Oil ministry spokesman Asim Jihad indicated that last month Kirkuk exported a total of 3.162 million barrels through the pipeline that terminates in Turkey’s Ceyhan port, with an average of 105,000 bpd.

The average price per barrel sold in June was $60.578 down from the $66.683 mark in April, according to the Iraqi Ministry of Oil.

Earlier, the ministry announced plans to increase crude oil output from Kirkuk oilfields to 1 million bpd.

Crude exports from the multi-ethnic province resumed in November 2018, following more than a year-long halt due to a standoff between the Iraqi federal government and the Kurdistan Regional Government (KRG).

Kurds controlled Kirkuk’s Havana and Bay Hassan oilfields after they drove out Islamic State militants in 2014.

Kirkuk and other territories disputed by Baghdad and Erbil fell under the control of federal forces following the October 16, 2017 events as a repercussion for a referendum on independence held by the KRG earlier in September.


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