Iraqi crude exports marketed by state-owned Somo edged up in October, according to preliminary figures from the country’s oil ministry.
Exports rose by 1pc on the month to 3.12mn b/d in October. Basrah loadings averaged 3.01mn b/d, also up by 1pc from the previous month, while exports of Somo-marketed Kirkuk blend via Ceyhan in Turkey were flat at 97,000 b/d. The oil ministry’s figures do not account for Kirkuk blend supplies sold by the Kurdistan Regional Government (KRG), which make up the majority of the grade’s exports.
The rise in exports, together with higher oil prices, pushed Somo’s revenues up by 13pc compared with September to $7.68bn last month. The firm’s average sales price rose by 8pc on the month to $79.38/bl in October, despite .