Tag Archives: Jabar Al Luaibi

Iraq’s 2018 budget of nearly $88 billion comes with a deficit of more than $10 billion.

Iraq hopes to end gas flaring by 2021.

The region'.s second-largest producer had earlier invited bids by April 15.

Earlier this month. the Iraqi government approved a plan to increase crude oil production to 6.5 million barrels per day.

Baghdad depends on the oil sector for more than 90 per cent of its revenue.

Luaibi did not say which countries have suggested a six- month extension of the agreement.

The two sides are expected to discuss resumption of export of Iraqi oil through the port of Ceyhan. on Turkey'.s eastern Mediterranean coast.

Iraq has resumed transporting oil products by rail from the Dawra refinery in Baghdad to Basra in the south which was halted after the 2003 U.S.-led invasion.

Iraq in December 2017 earned around US$6.5 billion from crude sales. at US$59.3 per barrel.

Chevron. Total and PetroChina may form a consortium later on to take over the development of the field.