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Iraq’s oil exports decline in October

Bad weather hampered loading operations from southern ports and halted exports through northern ports

The Iraqi Oil Ministry announced that oil exports in October dropped to reach nearly 84 million barrels, reports Alsumaria News.

The ministry points out that the bad weather hampered the loading operations from the southern ports and halted exports through the northern ports once and for all.

Ministry Spokesman Assem Jihad says: “Preliminary statistical data issued by the Iraqi oil marketing company, State Organisation for Marketing of Oil (SOMO), on the exported quantities of crude oil in October witnessed a decline compared to September.”

He explains that the total volume of oil exports for October amounted to 83.935m barrels compared to September, where its exports amounted to 91.552m barrels.

Jihad adds: “The financial revenues from these exports amounted to $3.320 billion,” noting that “the quantities exported from the southern port of Basra amounted to 83,935 barrels.”

He says that the amounts above have been loaded by the international oil companies that carry different nationalities from the ports of Basra and Khor al-Amaya on the Arabian Gulf.

($1 = AED3.67, at the time of publishing)