Oil Minister: We have achieved additional revenues for the federal budget exceeded the 7 billion dollar

The Ministry of Oil announced on Sunday that it has succeeded in adding financial revenues to the federal budget exceeded "the 7 billion dollars" on the export of crude oil "within 10 months,"

while it showed that the rate of selling the price of a barrel "increased 5 dollars" than the price approved in the budget of 2017 Oil Minister Jabbar Ali al-Allaibi during his chairmanship of the meeting of the Committee of crude oil pricing in the oil marketing company, according to a press release issued by the ministry,

"The ministry fulfilled its obligations to the Federal Treasury for this year 2017 and was able to achieve financial revenues amounted to 48.880 dollars during the period mentioned and before the expiration of months This year, "expected" add more than 10 billion dollars for the months of November and December, and thus exceed the total revenue expected 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," he said, "as an achievement for the government and the ministry And to workers in the oil sector.

" For his part, said the spokesman of the ministry Asim Jihad, "The rate of selling the price of a barrel 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," and expressed the hope that " This increase in national financial revenues is achieved by reducing 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."