MOSCOW, August 25 (RIA Novosti) - Iraq exported 75.7 million barrels of oil in July, or 2.442 million barrels per day, a 5 percent increase compared to the same period a year ago, according to a Crude Oil Exports report released by Iraq’s Oil Ministry on Monday.
In June 2014, Iraq sold 72.8 million barrels of oil to the foreign markets, in May – 80.8 million barrels.
Iraq’s oil revenues in July reached $7.74 billion. However, the average price per barrel of crude oil was $102.27 in July, in comparison to June’s level of $102.96.
The oil exported in July was produced at fields located in the Basra province. Since April, Baghdad has not been exporting oil from the Kirkuk Field, a subject of territorial dispute with the Iraqi Kurds.
The Kurdish enclave in northern Iraq has significantly strengthened since the beginning of the Islamic State (IS) insurgents’ offensive on the country. Following the fleeing by Iraqi troops from IS forces, the Kurdish Regional Government took Kirkuk and its giant oil field under its control. Turkey has been allowing the sale of the oil produced by Iraqi Kurdistan since May, despite legal actions being taken by the Iraqi government. According to Bloomberg, on August 20, Turkish Energy Minister said the Kurdish Regional Government and Ankara were planning to double the capacity of the 600-mile long Kirkuk–Ceyhan Oil Pipeline, Iraq’s largest crude export pipeline.
