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FinancialNews


  • 27-05-19

    Oil revenues in Iraq exceed USD7b

    (MENAFN) Iraq registered over USD7 billion in its crude oil revenues for April 2019, marking a new record as it exported around 104 million barrels with USD67.51 worth a barrel.

    Data the Oil Ministry revealed explained that this boost is attributed to increases in prices following the growing tensions between Iran and the United States.

    Revenues of crude oil in Iraq in March stood at USD6.7 billion, with the U.S. imposing more oil restrictions against Iran.

    It also comes after Exxon Mobil announced the evacuation of foreign workers from the Iraqi West Qurna 1 oilfield.

    "Exxon Mobil's evacuation is a precautionary and temporary measure. We have no indication over any dangers, the situation is secure and very stable at the oilfield which is running at full capacity and producing 440,000 bpd," stated head of Iraq's South Oil Company Ihsan Abdul Jabbar.

    MENAFN2705201900450000ID1098573820

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