Iraq posts $5.9bn oil revenues in May

Iraq said last month that ExxonMobil was seeking to sell its 32.7 percent stake in the West Qurna 1 field. (File/Shutterstock)

• May's exports were flat on the previous month at 2.9 million barrels, but with an average price of $62.5 per barrel

RIYADH: Iraq generated oil revenues of about $5.9 billion in May while the average price of a barrel was $65.46, the energy ministry said on its website.
May's exports were flat on the previous month at 2.9 million barrels, but with an average price of $62.5 per barrel.
Iraq said last month that ExxonMobil was seeking to sell its 32.7 percent stake in the West Qurna 1 field, and that the oil ministry had started discussions with US oil companies over a possible purchase, Reuters reported in May.
The US company plans to sell the stake in the prominent field - which has recoverable reserves of more than 20 billion barrels - in part to reduce the accumulated debt in the past year.