Iraqi Oil Revenue Exceeds $8 Billion in December 2023

The Iraqi Ministry of Oil announced on Sunday the total oil exports and revenues achieved for the month of December, according to the final statistics issued by the Iraqi Oil Marketing Company “SOMO” with a value that exceeded eight billion US dollars.

The ministry said in a statement, which “Al-Khaleej” obtained a copy of: “The quantity of crude oil exports reached 108.05 million barrels, with revenues of 8.31 billion dollars.”

It explained that “the statistics indicated that the total quantities exported from the oil fields in central and southern Iraq for the month of December reached 107.59 million barrels, while exports to Jordan were 464.05 thousand barrels”.

It added that “the average price per barrel reached 76.914 dollars.” It confirmed that “the exported quantities were loaded by (44) international companies from various nationalities, from the ports of Basra, Khor Al-Zubair, Al-Awamid port, Jihan port in Turkey, and Kirkuk Modern Warehouse by tankers.”

Meanwhile, Iraqi Prime Minister Mohammed Shiaa Al-Sudani chaired a meeting on Sunday, dedicated to completing the government procedures for the transition to electronic payment, in the presence of the Governor of the Central Bank, and the advisers to the Prime Minister for strategic, economic, and banking affairs, and the Director-General of Payments at the Central Bank, and the directors of a number of government banks.

A statement from the media office of the Iraqi Prime Minister, which “Al-Khaleej” obtained a copy of, stated that “the meeting discussed mechanisms for protecting citizens and preserving their rights, as Al-Sudani emphasized not to burden the citizens benefiting from electronic payment with any additional financial burdens or added commissions, especially in daily transactions and ordinary payments.”

He confirmed the “importance of expediting procedures for the transition to electronic payment cards in various public and private sector institutions, as the meeting discussed the commissions that will be charged by the banking institutions in order to achieve the government’s objectives in reforming the financial and banking sectors.”