The Iraqi Oil Minister Jabbar Ali Al-Allaibi has announced that Iraqi oil ministry has succeeded in increasing the financial revenues of Iraqi federal treasury and it is amounted at more than 47 billion 880 million U.S dollars on the crude oil export to global oil markets during the last 10 months. He added that the oil ministry has achieved its commitments to the Iraqi federal treasury for the year 2017. The ministry was able to collect 48,880 U.S dollars financial revenues during the mentioned time period and before the end of the months 2017. He said, it is expected that we will be able to add at least 10 billion U.S dollars for the months of November and December 2017. It would enhance the total expected revenue projected for the current year about 57 billion U.S dollars. The oil ministry also announced that ministry has collected more than 7 billion U.S dollars financial revenues during the past 10 months, despite most challenging economic and financial situation in the country. The oil ministry of Iraq also said that Iraq has been experiencing most critical crisis and economic & security challenges. But, the Iraqi oil ministry has shown its commitment in reducing the production of Iraqi crude oil according to the decisions of the OPEC (Organization of Petroleum Exporting Countries). It has been considered a great achievement earned by the Iraqi government and Iraqi oil ministry, and also for the workers in the oil sector. The spokesman for the oil ministry Assem Jihad said that the average selling price of Iraqi crude oil for the last 10 months was amounted at more than 47 U.S dollars per barrel. Now, it has been added with an increase of 5 U.S dollars in the price dedicated for the Iraqi federal budget 2017. The spokesman of the ministry stressed that this increase in the financial revenues of the state would significantly decrease the part of deficit in the Iraqi budget 2017. Iraqi Oil Ministry Achieved Target Efficiently During the Past 10 Months

Iraqi Oil Ministry Achieved Target Efficiently During the Past 10 Months

The Iraqi Oil Minister Jabbar Ali Al-Allaibi has announced that Iraqi oil ministry has succeeded in increasing the financial revenues of Iraqi federal treasury and it is amounted at ...
Current Parliamentary Session Extinguished Oil & Gas Law

Current Parliamentary Session Extinguished Oil & Gas Law

On Thursday, the Iraqi Parliamentary Oil and Energy Committee extinguished the adoption of the oil and gas law in the current session of Iraqi Parliament. The Committee said that the ...
Iraq has Planned to Export its Additional Crude Gas to Kuwait: Oil Minister

Iraq has Planned to Export its Additional Crude Gas to Kuwait: Oil Minister

On Thursday, the Iraqi oil minister Jabbar Ali Al-Allaibi has announced the possible export of Iraqi crude gas to Kuwait, additional from Iraqi need. He added that almost all documentation ...
Iraq has Crossed Saudi Arabia & got First Place among Crude Oil Exporting Countries

Iraq has Crossed Saudi Arabia & got First Place among Crude Oil Exporting Countries

Iraq is getting an advantage over Saudi Arabia and becoming the largest oil exporter in the world. It would build up a race between oil producing countries to maintain market value. ...
First Shipment of Iraqi Crude Oil Delivered to Egypt: Ministry of Petroleum

First Shipment of Iraqi Crude Oil Delivered to Egypt: Ministry of Petroleum

The Iraqi Minister of Petroleum and Mineral Resources Tariq Al-Mulla issued a statement that first oil shipment from Iraq will be reached to Egypt on 12th May 2017 and the estimated ...
New Oil Discovery in Iraq and Oil Export to Egypt

New Oil Discovery in Iraq and Oil Export to Egypt

The Russian company “Lukoil” issued a statement on 22nd February 2017 that the company has successfully completed the first extraction process of crude oil and low-sulfur in cooperation ...
Global company willing to offer their services

International Global Company offered services in finding Corruption & Fraud

A global company “Ernstr Young” has showed eagerness in providing their services regarding the investigation in the field of fraud and in the field anti-corruption including investigation ...
Iraqi Non-Oil Sectors offering more Investment Projects for Investors: Washington

Why the World Bank decreased Financial Support for Iraq?

The Iraqi government is looking to implement the national reconciliation project in the country. This step will be taken due to the conditions imposed by the World Bank for providing ...
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