Iraq's crude oil exports generate over 7 bln USD in August

Alsharq Tribune-Otaify 

Iraq's State Oil Marketing Organization (SOMO) announced Sunday that the country's crude oil exports generated revenue of more than 7 billion U.S. dollars in August.

Iraq's total crude oil exports in August exceeded 104.8 million barrels, generating revenue of about 7.16 billion dollars, said SOMO in a statement citing official statistics.

About 103.89 million barrels were exported from Iraq's central and southern oil fields via Iraq's Basra port, and 911,178 barrels from Qayyara Oil Field in the northern province of Nineveh, the statement said.

Iraq's economy relies heavily on crude oil exports, which account for about 90 percent of the country's revenues.