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Iraq’s Oil Exports rise to 3.12 Mln Bpd in October, Oil Ministry Says

A worker is seen at Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken March 31, 2021. (Reuters)
A worker is seen at Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken March 31, 2021. (Reuters)
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Iraq’s Oil Exports rise to 3.12 Mln Bpd in October, Oil Ministry Says

A worker is seen at Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken March 31, 2021. (Reuters)
A worker is seen at Iraq's Majnoon oilfield near Basra, Iraq, March 31, 2021. Picture taken March 31, 2021. (Reuters)

Iraq’s oil exports for October rose to 3.12 million barrels per day (bpd) from 3.081 million bpd in the previous month, the oil ministry said in a statement on Monday.

Exports from Iraq’s southern Basra terminals reached 3.012 million bpd during October, the ministry said.

Shipments from Kirkuk through the Turkish port of Ceyhan averaged 98,000 bpd, while around 10,000 bpd were shipped by truck to Jordan, the statement said.

Iraq’s October revenue from oil increased to $7.68 billion with an average price per barrel of $79.376.

Iraq sold its crude at an average price of $72.6 in September.

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Saudi Arabia Launches Investment and Acquisition Facilitation Program to Provide Liquidity to Industrial Firms

A factory in Madinah. (SPA)
A factory in Madinah. (SPA)
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Saudi Arabia Launches Investment and Acquisition Facilitation Program to Provide Liquidity to Industrial Firms

A factory in Madinah. (SPA)
A factory in Madinah. (SPA)

The Saudi Ministry of Industry and Mineral Resources has launched the Investment Facilitation and Acquisition Program, which aims to offer diverse investment opportunities that align with investors’ goals, while also assisting industrial companies in expanding their production or addressing challenges in business development.

In a statement on Tuesday, the ministry said the program provides three key advantages: facilitating acquisitions within the industrial sector, offering liquidity to industrial companies, and presenting suitable opportunities for investors.

The ministry added that the program’s launch reflects its commitment to expanding and promoting industrial investment opportunities, creating an attractive business environment, and providing programs that help industrial companies increase production and enhance their competitiveness.

The process for applicants to the Investment Facilitation and Acquisition Program involves several steps, including submitting applications from both investors and companies, attaching the necessary documents through a designated electronic registration form, and analyzing the submitted applications to identify interested parties and determine compatibility.

If a match is found between an investor’s interests and a participating company, the two sides are connected. The investor then conducts an analysis and evaluation of the company and may submit an investment or acquisition offer to the owner if the evaluation aligns with their investment strategy.