The oil minister expects revenues this year at 57 billion dollars
The oil minister expects revenues this year at 57 billion dollars
2017/11/12 18:06
[Ayna-Baghdad]
Oil Minister Jabbar Ali al-Allaibi announced the ministry’s success in achieving financial revenues of the federal treasury amounted to about 47 billion and 880 million dollars on the export of crude oil to global markets during the past 10 months.
“The ministry has fulfilled its obligations to the federal treasury for this year 2017 and was able to achieve financial revenues of $ 48,880 during the period mentioned and before the end of the months of this year, with our expectations to add more than 10 billion dollars For the months of November and December and thus exceed the total revenue projected for this year about 57 billion dollars.
“The ministry has also achieved an increase in financial revenues of more than 7 billion dollars in 10 months in spite of the financial, economic and security challenges facing our work as well as Iraq’s commitments to reduce production within the decisions of the Organization of OPEC, and this is an achievement for the government and the ministry and for workers in the oil sector, .
For his part, said spokesman Assem Jihad, “The average price of selling barrels of crude oil for the past ten months amounted to more than 47 dollars a barrel, an increase of more than 5 dollars from the price that was adopted in the federal budget for 2017.”
The ministry spokesman expressed the hope that this increase in national financial revenues will reduce the proportion of the deficit in the federal budget.
Jihad predicted that “the ministry will achieve higher revenues in the next year compared to the current year if prices keep their current rates, as well as the stability of global markets and increase demand for crude oil.”
alliraqnews.com
