Iraq Earns Over $2.3 Billion from Oil Exports in May and June

SOMO's website

SOMO building.

Iraq generated more than $2.3 billion in oil export revenue during May and June after selling over 32 million barrels of crude, according to the State Organization for Marketing of Oil (SOMO).

In a statement issued on Tuesday, SOMO said total oil exports for the two-month period reached 32,114,644 barrels, generating revenues of $2,335,537,399.

The organisation said the Basra oilfields accounted for the largest share of exports, with 20,238,836 barrels shipped during the period.

Exports from the Kirkuk oilfields totalled 10,311,216 barrels.

SOMO added that oil exports from the Kurdistan Region amounted to 1,564,625 barrels over the same period.

The figures highlight the continued importance of oil exports to Iraq's economy, with crude sales remaining the country's primary source of government revenue.


PUKMEDIA