Iraq sells oil for $ 40 billion in the first half of 2018


7/9/2018


The Ministry of Oil announced that the ministry has achieved a remarkable increase in the rate of exports and revenues from crude oil sales for the first half of this year 2018 compared to the first half of last year 2017.


"The total revenues for the first half of this year 2018 amounted to 40 billion and 345 million and 235 thousand dollars, while the revenues achieved for the first half of last year 2017," a statement of the ministry received the agency {Euphrates News} a copy of the Minister Jabbar Ali al-Allaibi said, 27} billion and 642 million and 329 thousand dollars. "


He added that "the total exports achieved for the first half of this year 2018 also recorded an increase in their rates was 625 million and 193 thousand and 749 barrels, while in the year 2017 past 592 million and 439 thousand and 163 barrels."

Al-Allaibi pointed out that "the average selling price for the month of June 2018 has witnessed a rise compared to the month of June of 2017 last year, which amounted to (69,322) dollars per barrel, while the selling rate for 2017 {42,067} dollars a barrel," adding that " Reducing the proportion of deficit in the federal budget for this year. "

It is noteworthy that Iraq relies on its annual financial budget on oil imports by more than 90%.

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