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Iraqi oil exports expected to rise to 3.3 million barrels per day

Iraqi oil exports

Baghdad, (Business News Report) – Iraqi oil exports will rise next February to 3.3 million barrels per day, expected Ali Nizar, assistant director of the Iraqi Oil Marketing Company (SOMO).

“Currently, Iraqi oil exports average 3.2 million barrels per day, and we expect them to rise in February,” Nizar said.

According to official data issued by SOMO, the average Iraqi oil exports for the month of December last year exceeded 3,277 thousand barrels per day.

Iraqi oil exports

A statement by the Iraqi Oil Ministry stated that the quantities of oil exported are from the central and southern fields of the country and Kirkuk, at a rate of 3.277 million barrels per day, at a price of $72 per barrel.

The statement stated that Iraq’s oil exports achieved financial revenues of more than $7.37 billion.

Iraq plans to export 3.3 million barrels per day during the current month.

Nizar added that the fluctuation in oil prices will not continue, and the Organization of Petroleum Exporting Countries (OPEC) takes this into account. He said that it was too early to say that oil prices would exceed $100 a barrel, but OPEC+ would supply larger quantities to the market when needed.

Iraq Clean Energy Forum

The activities of the Iraq Clean Energy Forum were launched in Baghdad on Sunday. A number of ministries and international companies specialized in the field of clean and renewable energy participated.

Karim Hattab, Undersecretary of the Ministry of Oil, said during the opening of the forum that Iraq is working on transition to clean energy and stop burning gas in the coming years, reduce emissions from oil operations and keep pace with development in the field of clean and renewable energy.

He also added that Iraq is working on the optimal investment of national wealth, reducing pollutants, and obliging foreign companies operating in Iraq to adhere to environmental protection.

Meanwhile, the forum discussed working papers presented by the Iraqi Ministry of Environment, SOMO, Siemens company, Schlumberger company, Shell International company and Baker Hughes company.

During the past year, Iraq began signing a number of contracts with international companies, most notably France’s Total, to implement investments worth billions of dollars for the transition to clean and renewable energy in the field of electric power production.


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