Iraq’s crude oil exports from Basra fields rise 2.3% in April: Ministry of Oil
Iraq’s crude oil exports excluding Kurdistan grew 3.9 percent in April to 3.38 million barrels per day (bpd), preliminary data from the country’s Ministry of Oil has revealed.
Growth in exports was driven by the 2.3 percent increase in crude volumes exported from the Basra fields. Exports from these fields totaled 3.27 million bpd, and added 72,000 bpd to the total monthly increase of 135,000 bpd. The rest of the monthly increase resulted from Kirkuk oil exported via the port of Ceyhan, which surged 113 percent month-on-month in April, having added an extra 53,000 bpd.
Crude oil exports excluding Kurdistan generated a revenue of $10.55 billion in April this year, down 3.3 percent month-on-month as the average price per barrel declined to $104.1 from $108.5 in the previous month, according to Ministry of Oil data.
Total crude exports excluding Kurdistan have been rising steadily from June 2021 through February 2022, having reflected a growth of 14.6 percent. Exports slipped by 2.1 percent in March 2022.
As for crude exports from the Kurdistan Region, it stood at 0.404 million bpd in February, the most recent data available from the Joint Organisations Data Initiative, also known as JODI, as well as that from the Ministry of Oil, reveal. Exports from the Kurdistan Region were seen rising to 0.470 million bpd in September 2021.
Iraq’s total crude output including Kurdistan fell to 4.148 million bpd in March 2022 from 4.26 million bpd in February, according to a most recent monthly report from OPEC.
The country’s total production quota including Kurdistan for April 2022 was increased to 4.414 million bpd from 4.37 million bpd allocated for March 2022, a document released during OPEC’s Ministerial Meeting on March 31 earlier this year showed.
Source: Arab News