Oil announces total exports and revenues for the half 2020

Shafaq News / The Ministry of Oil announced, today, Monday, that the total oil exports for the past six months of 2020 amounted to more than 593 million barrels, noting that 32 international companies bought crude oil of Iraq.

The Oil Marketing Company (SOMO), which is affiliated to the Ministry, published a tally of the exported oil quantities and revenues during the past six months of the current year 2020.

The tally viewed by Shafaq news agency showed  that "the total oil exports amounted to 593,171,326 barrels," noting that "the monthly export rate reached 98,861,000 barrels at an average of 3,189,000 barrels per day. "

it added, "The revenues generated from its sales of crude oil amounted to 20,503,000,000 dollars, at a rate of 3,417,194,000 dollars per month," noting that "the average monthly selling price of crude oil was 34.366 dollars."

SOMO pointed out that 32 international companies of various Asian, European and American nationalities bought Iraqi oil.

The world oil prices fell to below 14 dollars per barrel, which affected the budgets of oil producing countries, especially Iraq, as its budget depends 90% on oil exports.