The increase in world crude oil prices this year will add $8 billion [9.6 trillion Iraqi dinars] to the Iraqi budget, the Secretary-General of Iraq’s Council of Ministers said. Ali al-Allaq (pictured) told al-Sabah Newspaper in Baghdad on Tuesday that the increase would result in additional allocations to for the implementation of projects. He added […]
Tag Archives | oil price
Tags: Iraq Budget News, oil price
How Will Egypt Affect Iraq?
With political and social upheaval, first in Tunisia and now in Egypt, the big question on many minds at the moment is to what extent the unrest will spread to other countries in the Arab world. But despite the undoubted poverty in Iraq, it is rarely mentioned as possible candidate for a popular uprising, and […]
Iraq 2011 Budget Based on $73 Oil
By Editor on 22nd November 2010 in Iraq Banking & Finance News, Iraq Industry & Trade News, Iraq Oil & Gas News
The oil and finance ministries agreed to set the price of oil barrel at $73, to be endorsed in the 2011 state budget, oil ministry spokesman Assem Jihad told Aswat al-Iraq news agency at the weekend. “The agreement comes in light of an export rate of 2.3 million barrels per day (bpd), including the oil […]
Tags: Iraq Budget News, oil price
Iraq Ups Oil Prices for US and Asia, Drops Prices for Europe
Iraq’s State Oil Marketing Organisation (SOMO) has raised the official selling prices for its Basra Light and Kirkuk crude grades for October loading to the U.S. and Asia, but dropped prices to Europe. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced […]
New Iraqi Oil Prices for October
Iraq’s State Oil Marketing Organisation (SOMO) has raised the official selling prices for its Basra Light and Kirkuk crude grades for October loading to the U.S. and Europe. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: * For shipments to US, contracts are priced are relative to the […]
New Iraqi Oil Prices for September
Iraq’s State Oil Marketing Organisation (SOMO) has cut the official selling price for September shipments of its Basra Light crude to Asia, reducing the cost to its lowest level in eighteen months, while raising its price to the US. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For […]