|
09 November 2009
|
Volume 52, Issue 45 - NEWS BY COUNTRY |
| |
|
Iraqi Oil Revenues Have Recovered From February Lows
Iraqi oil revenues have recovered from the levels below $2bn/month registered in February and December, but are still some way short of the $7bn plus levels seen in May and June 2008, according to the latest official Iraqi oil data.
Iraqi Crude Exports
(Volumes Mn B/D, Revenues $Bn)
Month
|
Southern Exports
|
MEESSouthern Exports
|
Difference
|
Northern Exports
|
Total
|
Southern Oil
Revenue
|
Northern Oil Revenue
|
Total Revenues
|
Av Iraqi Crude Price ($/B)
|
Jul-08
|
1.513
|
1.510
|
0.003
|
0.384
|
1.897
|
5.302
|
1.390
|
6.692
|
113.81
|
Aug-08
|
1.448
|
1.470
|
-0.022
|
0.306
|
1.754
|
4.595
|
0.954
|
5.549
|
102.00
|
Sep-08
|
1.323
|
1.330
|
-0.007
|
0.323
|
1.646
|
3.356
|
0.858
|
4.214
|
85.30
|
Oct-08
|
1.384
|
1.390
|
-0.006
|
0.319
|
1.703
|
2.507
|
0.603
|
3.110
|
58.90
|
Nov-08
|
1.450
|
1.455
|
-0.005
|
0.310
|
1.760
|
1.869
|
0.430
|
2.299
|
43.54
|
Dec-08
|
1.400
|
1.404
|
-0.004
|
0.413
|
1.813
|
1.503
|
0.440
|
1.943
|
34.57
|
Jan-09
|
1.381
|
1.382
|
-0.001
|
0.510
|
1.891
|
1.578
|
0.572
|
2.150
|
36.69
|
Feb-09
|
1.354
|
1.284
|
0.070
|
0.450
|
1.804
|
1.444
|
0.478
|
1.922
|
38.06
|
Mar-09
|
1.394
|
1.357
|
0.037
|
0.423
|
1.817
|
1.895
|
0.594
|
2.489
|
44.21
|
Apr-09
|
1.413
|
1.454
|
-0.041
|
0.410
|
1.823
|
2.079
|
0.613
|
2.692
|
49.21
|
May-09
|
1.384
|
1.325
|
0.059
|
0.522
|
1.906
|
2.456
|
0.922
|
3.378
|
57.16
|
Jun-09
|
1.397
|
1.433
|
-0.036
|
0.527
|
1.924
|
2.680
|
1.034
|
3.714
|
64.37
|
Jul-09
|
1.490
|
1.490
|
0.000
|
0.545
|
2.035
|
2.998
|
1.067
|
4.065
|
64.42
|
Aug-09
|
1.490
|
1.510
|
-0.020
|
0.519
|
2.009
|
3.140
|
1.100
|
4.240
|
68.06
|
Sep-09
|
1.460
|
1.432
|
0.028
|
0.496
|
1.956
|
2.892
|
0.985
|
3.877
|
66.05
|
Source
: SOMO, except for MEES Southern Exports estimates.
A rise in the price of Iraqi crude to above $55/B has boosted revenues over the $3bn/month mark, but it has needed an increase of Kirkuk exports to around 500,000 b/d and a recovery in southern flows to 1.45mn b/d levels for monthly revenues to top $3.5bn (see table). With the exception of February and May, the official data are within 50,000 b/d of MEES figures, obtained from loading information. © Copyright MEES 2009.
|
| |
| © Middle East Economic Survey (MEES) 2009. |
| |
