Total Iraqi Oil Exports during July and Chinese investment in Oil Sector

The SOMO (Iraqi Oil Marketing Company) issued preliminary statistics that the Iraqi Ministry of Oil has announced the total exports revenues collected during the month of July 2019. The spokesperson of the ministry, Assem Jihad issued a statement. It has indicated the total quantities exported crude oil for the month of July from the oil fields in central and southern Iraq amounted to 106 million and 500 thousand and 15 barrels, while from Kirkuk fields through the port of Ceyhan amounted to Exported quantities 3 million and 119 thousand and 578 barrels, while the quantities exported from the field Qayara 929 thousand and 145 barrels.

Total Iraqi Oil Exports during July and Chinese investment in Oil Sector

Jihad also pointed out the daily average of exports amounted to 3 million 566 thousand barrels. The daily rate of export from the ports of Basra 3 million and 435 thousand barrels, and Ceyhan was the daily average of 101 thousand barrels. The daily rate of the field Qayara was 30 thousand barrels and the average price per barrel amounted to 61.156 U.S dollars. It is noteworthy China also announced the total value of oil investments in Iraq. Chinese ambassador to Baghdad, Zhang Tao issued a joint press conference with the governor of Kirkuk, Rakan Jubouri. It indicates the total volume of trade between China and Iraq amounted at 30 billion U.S dollars during 2018.

China is involved strongly in the Iraqi oil industry and the Chinese Petroleum Engineering and Construction Company signed an agreement in early 2019 with the Gas Company of Basra in southern Iraq. It is a contract to invest gas in the field of Artawi, western Anatolia. Iraq also signed a contract early this year for the investment of gas associated in the field of Halafaya in the province of Maysan in southern Iraq with the company Petrojina of China to invest 300 million cubic feet of gas. China is also supporting for railways in Iraq and a contract was signed in 2012 to provide 12 high-speed trains amounted at 138 million U.S dollars.

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