RIYADH: The Iraqi Ministry of Oil announced on Saturday that oil export revenues during June exceeded $7 billion.
According to the State Organization for Marketing of Oil, the total exports of crude during June were nearly 100.06 million barrels, with revenues amounting to $7.11 billion.
SOMO data revealed that the total quantities of crude exported during June from oil fields in central and southern Iraq were 98.72 million barrels.
Oil exports from the Al-Qayyarah oil field in Nineveh governorate in northern Iraq were 1.03 million barrels.
The average price per barrel was over $71.11, compared to $71.3 in May.
The average daily quantity exported from Iraq exceeded 3.33 million barrels per day.
The crude oil was loaded from ports on the Arabian Gulf and via the Turkish port of Ceyhan.
US oil and gas rig counts decline
The total number of active drilling rigs in the US fell by eight this week, according to new data from Baker Hughes published on Friday, falling by 74 rigs over the last two months.
The total active drilling rig count is an important indicator that provides insights into the level of drilling activity within the oil and gas industry.
The total rig count fell to 674 this week — down 76 rigs compared to the same time last year.
The current count is 401 fewer rigs than the rig count at the beginning of 2019, before the pandemic.
The number of oil rigs declined by one this week to 545, while the number of gas rigs fell by six to 124.
The rig count in the Permian Basin saw no changes this week, and stand at eight rigs below this same time last year. The rig count in the Eagle Ford rose by one, and was down seven rigs from this time last year.
Crude oil production levels in the US stayed at 12.2 million bpd in the week ending June 23, according to the latest weekly Energy Information Administration estimates, on par with January levels.
US production levels are now up just 100,000 bpd compared to a year ago.
New Mexico fines oil producer $40m for burning off natural gas
New Mexico oil field and air quality regulators on Thursday announced unprecedented state fines against a Texas-based oil and natural gas producer on accusations that the company flouted local pollution reporting and control requirements by burning off vast amounts of natural gas in a prolific energy-production zone in the southeast of the state.
The New Mexico Environment Department announced a $40.3 million penalty against Austin, Texas-based Ameredev, alleging the burning caused excessive emissions in 2019 and 2020 at five facilities in New Mexico’s Lea County near the town of Jal.
Regulators raised concerns about the excess release of several pollutants linked to climate warming or known to cause serious health issues, including sulfur dioxide.
The agency alleged that Ameredev mined oil and natural gas without any means of transporting the gas away via pipeline, as required by state law.
(With input from Reuters)
