Iraq has best month for oil revenues in over a year

04 December 2017
Federal Iraq exported crude worth $6bn in November

In November Iraq had its best month for oil revenues since October 2014 thanks to higher oil prices and increased exports from the country’s southern terminals, according to statements published on the ministry of oil’s website.

During the month federal Iraq exported more than 105 million barrels and received revenues of more than $6bn.

The oil ministry said that exports from southern ports set a record during the period as production from central and southern Iraq was directed toward terminals on the Persian Gulf instead of being transported through the pipeline to Turkey.

The crude exports via the pipeline to the Turkish port of Ceyhan have been halted amid a political dispute between the federal government and the Kurdish Regional Government (KRG).

Baghdad retook control of the disputed Kirkuk region in October using military force.

Prior to the advance by Iraqi troops the region was being controlled by the KRG.

Earlier this month Iraq issued a tender for a contract to replace a damaged section of the export pipeline from the Iraqi region of Kirkuk to the Turkish port of Ceyhan, according to Iraqi Oil Minister Jabar al-Luaibi.

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