Iraqi oil revenue increases by 600 million dollars in May compared to April

Kirkuk, North Oil company, 2014. Photo: KirkukNow


The Iraqi federal government sold per barrel of oil at the average price of 21 dollars in May, generating more than two billion dollars in the month.

According to a data released by the Iraqi Ministry of Oil, the total oil export of the country in May reached 99 million and 858 thousand barrels of oil, which brought Iraq two billion, 91 million and 811 dollars.

In the meantime, the Iraqi oil revenue was more than five billion dollars in February, which dropped to nearly three billion in March and a billion and 423 million dollars in April due to the oil price collapse caused by the spread of the novel coronavirus.

The average price for each barrel of the Iraqi crude oil was 21.005 dollars in May.

Assim Jihad, the spokesperson of the Ministry of Oil, has explained in a statement that three million, 454 thousand, and 431 barrels of oil, equivalent to 114 thousand barrels per day, were exported from the oil fields of Kirkuk in May.

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

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