Oil adds more than $ 47 billion to the federal treasury




November 12, 2017

Baghdad - Journal News

The Ministry of Oil announced the financial revenues of the federal treasury amounted to about 47.880 billion dollars, and the export of crude oil to world markets in 10 months.

"The ministry has fulfilled its commitments to the federal treasury for this year 2017 and managed to achieve financial revenues of 47.880 billion dollars during the current period before the end of this year, with our expectations," Oil Minister Jabbar al-Luaibi said during a meeting of the crude oil pricing committee at the oil marketing company. Adding more than 10 billion dollars for the months of November and December, and thus exceeded the total revenue expected for this year about 57 billion dollars.

"The ministry has also achieved an increase in financial revenues in excess of $ 7 billion in 10 months despite the financial, economic and security challenges facing the work, as well as Iraq's commitments to reduce production within the decisions of OPEC."

In turn, spokesman for the ministry Assem Jihad, said the rate of selling the price of a barrel of crude oil for the past ten months amounted to more than $ 47 a barrel, an increase of more than $ 5 from the price that was adopted in the federal budget for 2017

Link