July Crude Oil Revenues Up

By John Lee.

Iraq generated 6.9 percent more revenue from crude sales in July, compared with the previous month, according to the Oil Ministry.

Bloomberg reports that it earned $7.27 billion from the export of 2.32 million bpd of crude in July, versus $6.8 billion from 2.33 million bpd in June.

66.4 million barrels were exported from Basra and 5.6 million barrels from Kirkuk at an average price of $101 a barrel, up from $97.41 in June.

The government reportedly deployed an additional 2,500 soldiers to protect the pipeline running from Kirkuk to the Turkish port of Ceyhan; that link has been attacked 38 times this year, compared with six times in 2012.

(Source: Bloomberg)