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Iraq Oil Exports Stand at 3.4 Mln bpd in Sep

Iraqi flag in front of an oil field. (AFP)
Iraqi flag in front of an oil field. (AFP)
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Iraq Oil Exports Stand at 3.4 Mln bpd in Sep

Iraqi flag in front of an oil field. (AFP)
Iraqi flag in front of an oil field. (AFP)

Iraq exported 103,143,199 million barrels of crude oil in September, generating 9.5 billion US dollars in revenue, the country's Oil Ministry announced on Sunday.

The average price of Iraqi crude oil in Sep. was 92.05 dollars per barrel, the ministry said in a statement, citing statistics from the State Organization for Marketing of Oil (SOMO), an Iraqi company.

The average of exported quantities stood at 3,438,000 bpd in September.

The crude oil barrels were exported from oil fields in central and southern Iraq to neighboring Jordan during the month.

Iraqi oil exports from Kirkuk and the Kurdistan region through the Kirkuk–Ceyhan Oil Pipeline remained suspended since the end of March upon a decision by the Turkish authority after an international court decided that SOMO is the only entity authorized to manage export operations through the Turkish port of Ceyhan.

Iraqi Prime Minister Mohammed Shia al-Sudani stressed Sunday the necessity of completing expansion and maintenance projects for Iraqi oil ports.

During a meeting to follow up on projects and plans for developing the oil sector, Sudani stressed the importance of completing gas projects and expanding investment in Iraqi fields producing natural gas, for the purpose of supplying power stations and national fertilizer-producing factories with their gas needs.

The Iraqi PM further underscored the necessity of completing the refinery projects as quickly as possible, in order to reach self-sufficiency in oil derivatives and fuel.

Iraq’s Oil Ministry announced last week the increase in production capacity at the Karbala refinery to 140,000 bpd.

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US Trade Delegation in Iraq to Boost Economic Ties

Iraqis walk through the book market in the Mutanabi Street of Baghdad, Iraq, Friday, April 4, 2025. (AP)
Iraqis walk through the book market in the Mutanabi Street of Baghdad, Iraq, Friday, April 4, 2025. (AP)
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US Trade Delegation in Iraq to Boost Economic Ties

Iraqis walk through the book market in the Mutanabi Street of Baghdad, Iraq, Friday, April 4, 2025. (AP)
Iraqis walk through the book market in the Mutanabi Street of Baghdad, Iraq, Friday, April 4, 2025. (AP)

A US trade delegation representing 60 companies was visiting Iraq to sign economic cooperation agreements with the private sector, Washington's embassy in Baghdad said Tuesday.

The three-day visit, which began on Monday, comes amid fears of an international recession after US President Donald Trump imposed sweeping tariffs on numerous countries, which included 39 percent duties on Iraqi imports.

The US delegation consists of 101 members from 60 companies in the energy, technology and health sectors, who are set to meet with senior Iraqi officials and sign agreements, said an embassy statement to AFP.

It is the largest US trade mission to Iraq in the more than 100-year history of the United States Chamber of Commerce, the embassy added.

In a post on X, the US mission said that a "pivotal memorandum of understanding to strengthen ties between the US and Iraqi private sectors" was signed on Monday between the US Chamber of Commerce and the Federation of Iraqi Chambers of Commerce.

"This partnership will foster long-term economic collaboration," it said.

According to the office of the US trade representative in Iraq, total goods trade with the oil-rich country reached $9.1 billion in 2024, with US exports amounting to $1.7 billion.

US goods imports from Iraq totaled $7.4 billion.

During the visit, Iraq is expected to sign a "landmark agreement" with General Electric to develop a high-efficiency power plant, according to Farhad Alaaldin, foreign policy adviser to the Iraqi Prime Minister Mohammed Shia al-Sudani.

Last year, during Sudani's visit to Washington, Iraq and the United States signed several memoranda of understanding in the energy sector, including one with General Electric to ensure the maintenance of the Iraqi electricity grid.

Iraq's power plants are currently highly dependent on gas imported from Iran, which provides about a third of its neighbor's energy needs.

But Tehran has often cut supplies, exacerbating regular power outages.

Baghdad has repeatedly stressed the need to diversify energy sources to reduce its dependence on Iran.

Iraq has been trying to move past decades of war and unrest, including a sectarian struggle after the US-led invasion 2003 toppled Saddam Hussein.