Iraq's government submitted a revised draft budget to MPs for approval on Sunday, raising projected public spending as oil prices have increased, government spokesman Ali al-Dabbagh said. The new spending programme estimates overall expenditure at $81.86 billion, or 96.6 trillion Iraqi dinars, while income will be $68.56 billion, leaving a shortfall of $13.3 billion-- about […]
Tag Archives | Oil Prices In Iraq
Iraq Business News brings you information on oil prices in Iraq, with the latest developments and opportunities.
Iraq, the third-largest producer in OPEC, cut the official price formulas for all its crude grades and destinations for February, according to price lists published by the State Oil Marketing Organisation (SOMO). Basrah Light and Kirkuk, the two grades sold by the Middle Eastern state, will sell for 20 cents a barrel less in February […]
Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra Light and Kirkuk crude grades for January. 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 Argus Sour Crude Index (ASCI); Shipments to […]