In 2016 Iraq increased its oil export up to 3,3 million barr/day, stated by State Oil Marketing Organization (SOMO), January 26, 2017.
In 2016 Iraq increased its oil export up to 3,3 million barr/day, stated by State Oil Marketing Organization (SOMO), January 26, 2017.
26 January 2017
The growth reached 10%.
Following the results of 2016 the country’s total oil export was 1,208 billion barr/day compared to 1,097 billion barr in 2015.
In December 2016 export volume in Iraq grew by 9,4% – 109,1 million barr (3,5 million barr/day) both from Basra oil field (107 million barrels) and Kirkuk (2,1 million barrels).
Crude handling is made through terminals in Basra and Khor Alamie in the Persian Gulf and Ceyhan in Turkey and further in the Mediterranean.
The average oil price in December 2016 was $46,37.
In December 2016 the state budget received more than $5 billion.
Following the results of 2016 Iraq’s oil revenues was $43,618 billion, which is 11% lower than in 2015.