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Iraq's oil revenues increase 34 percent thanks to high prices
June 7 2011
" Hussein al-Shahristani, Iraqi Deputy Prime Minister said on Tuesday that high oil prices boosted Iraq's oil revenues to reach $ 34.1 billion in the first five months of this year, an increase of $ 8.7 billion or 34 percent from the budget figures.
With the steady rise in Iraqi oil production and exports, government officials say they expect to cover the projected shortfall in oil revenues in the budget of 2011 of $ 13.4 billion.
In February, the Iraqi parliament approved a budget of 6.82 billion dollars in 2011 on the basis that the price of oil $ 76.50 a barrel, and crude exports 2.2 million barrels a day.
Shahristani said during his appearance with Prime Minister Nuri al-Maliki and other members of the Council of Ministers on state television that the average price of Iraqi oil reached 103.60 dollars a barrel in the first five months of the year.
He added that this means that there is a surplus of $ 8.7 billion in the first five months. He added that this is 34 percent above the expected figure in the budget in that period, which amounts to $ 25.4 billion.
The al-Shahristani and endanger the Maliki government's performance during the period identified by the percent on the Prime Minister to his Government tried to improve public services in light of protests over poor living conditions and corruption.
Shahristani said he expected the price of Iraqi oil remains higher than expected for the remainder of the year.
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June 7 2011
" Hussein al-Shahristani, Iraqi Deputy Prime Minister said on Tuesday that high oil prices boosted Iraq's oil revenues to reach $ 34.1 billion in the first five months of this year, an increase of $ 8.7 billion or 34 percent from the budget figures.
With the steady rise in Iraqi oil production and exports, government officials say they expect to cover the projected shortfall in oil revenues in the budget of 2011 of $ 13.4 billion.
In February, the Iraqi parliament approved a budget of 6.82 billion dollars in 2011 on the basis that the price of oil $ 76.50 a barrel, and crude exports 2.2 million barrels a day.
Shahristani said during his appearance with Prime Minister Nuri al-Maliki and other members of the Council of Ministers on state television that the average price of Iraqi oil reached 103.60 dollars a barrel in the first five months of the year.
He added that this means that there is a surplus of $ 8.7 billion in the first five months. He added that this is 34 percent above the expected figure in the budget in that period, which amounts to $ 25.4 billion.
The al-Shahristani and endanger the Maliki government's performance during the period identified by the percent on the Prime Minister to his Government tried to improve public services in light of protests over poor living conditions and corruption.
Shahristani said he expected the price of Iraqi oil remains higher than expected for the remainder of the year.
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