Official Clarification: Facts Regarding Iraqi Crude Oil Export Rates

Published by: NRTC (Citing SOMO / Ministry of Oil)

The NRTC, citing the official channels of the Iraqi Oil Marketing Company (SOMO) affiliated with the Ministry of Oil, publishes the following clarification regarding recent media reports concerning Iraqi crude oil exports reaching $4$ million barrels per day.

Below is the official clarification issued by the Ministry of Oil:

Clarification from the Ministry of Oil:

The Ministry of Oil would like to clarify regarding reports circulated by some media outlets stating that Iraqi crude oil exports have reached $4$ million barrels per day.

The Ministry affirms that the aforementioned quantity was recorded for a single day of export, resulting from the Oil Marketing Company (SOMO) exporting a quantity of crude oil outside the Strait of Hormuz. The tanker was loaded with Qayyarah crude oil, in addition to other quantities loaded for export and sale (Free on Board from southern ports), as well as quantities exported from the northern outlet, which are loaded according to the loading schedule upon the accumulation of economic quantities liftable by oil tankers.

The Ministry also affirms that the average daily export rate of Iraqi crude oil during the month of September, up to the preparation of this clarification, reached approximately $2.6$ million barrels per day. This figure is subject to change based on the actual quantities expected to be exported during the remaining days of the current month. This in itself is considered a significant achievement for the Ministry in maintaining these rates under current circumstances and the continued closure of the Strait of Hormuz. This stems from the Ministry of Oil's keenness to sustain export operations at the highest possible volume to secure the required financial revenues for the country's general treasury.

Ministry of Oil

Media and Government Communication Office