QNABaghdad The Iraqi Oil Marketing Company on Saturday confirmed that it had received requests to increase the quantities of Iraqi oil exported to Asia, while noting that the recent agreement of the Organization of Oil Exporting Countries and their allies (OPEC +) led to an increase in revenues that enter the country from oil revenues.Alaa Al-Yasiri, the company’s general manager, said in a press statement that Russia is currently present in Asia as a competitor, but it will not affect the presence of Iraq, as the Oil Marketing Company has contracted with major government companies in major crude oil consuming countries.He added that Iraq is contracting with almost all government refineries in China and India, and these two countries are not willing to risk abandoning Iraqi crude oil, due to the proximity of the distance, the pipeline network and the cost of transportation.Yasiri explained that in previous periods, the revenue from exports to the Iraqi Ministry of Finance ranged between one and a half billion and two billion dollars per month before the last OPEC agreement, but after that, prices began to recover and reached 60 and 70 dollars per barrel, and during the Ukrainian crisis the price reached 100 dollars and more, noting that revenues exceeded $11 billion per month, and “so far we have achieved $82 billion in sales in 2022”.He pointed out that some companies may want to change heavy oil to medium and vice versa, and some companies have objections that must be taken into account with regard to fines, logistics, berths, and most important of all, the specifications of the crude sold, adding, “We have committees formed for the purpose of determining quantities and buyers for the coming years.” He said for three years, Iraq is the first supplier of crude to India, noting that he group of oil exporting countries and their allies (OPEC +) agreed to reduce production by 100,000 barrels per day for the month of October.The Iraqi Oil Ministry announced that the country exported more than 100 million barrels of oil during the month of August, with revenues of nearly $9.7 billion.The Iraqi Oil Ministry had announced the export of 102 million and 385 thousand and 49 barrels of crude oil during the month of July, with revenues of $10.6 billion.
