MOSCOW (MRC) -- Iraq's oil exports fell to 3.230 MMbpd in July from 3.273 MMbpd in June as no shipments were made from the northern Kirkuk field, the oil ministry said on Tuesday, according to Hydrocarbonprocessing.
The volume announced by the ministry accounts for shipments from the fields supervised by the central government in Baghdad, and does not include those from the autonomous Kurdish region in northern Iraq.
All the volumes sold in July came from the southern fields and none from Kirkuk, the only field supervised by the government in north, the statement said. In June, Iraq shipped 677,413 bbl from Kirkuk, an average of 22,000 bpd. The average sale price in July was USD43.80/bbl, generating USD4.386 B in revenue, the statement said. Iraq generated USD4.13 B from oil sales in June and sold its crude for USD42/bbl, the ministry said. Iraq is the second largest OPEC producer after Saudi Arabia.
As MRC informed before, in the first half of May 2017, Iraqi's oil ministry asked foreign companies and investors to bid for a project to build and operate a 300,000-bpd export-oriented refinery in Fao, near the southern city of Basra. Bidding documents provide for two investment models - build-own-operate and build-operate-transfer, said the ministry in a statement. They were available until May 31 and the bidding closed on Aug. 1d.
OPEC's second-largest oil producer after Saudi Arabia, Iraq's refining capacity was curtailed when Islamic State overran its largest oil processing plant in Baiji, north of Baghdad, in 2014.
MRC