ERBIL, Kurdistan Region - Iraq pocketed $97.5 billion from oil sales in 2023, a significant decline from 2022’s record-setting $115 billion. Iraq exported more than 108 million barrels of oil during the month of December, averaging 3.4 million barrels per day at an average rate of around $77 per barrel. The sales brought in a total revenue of $8.316 million for the last mont
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IMF warned of "fiscal and external sustainability risks" from "large" budget law expansion Baghdad, Iraq The International Monetary Fund (IMF) has predicted a decline in Iraq’s Gross Domestic Product (GDP) growth due to oil production cuts by OPEC+ and the interruption of the pipeline with Turkey. However, the IMF noted that Iraq’s economic activity is recovering despite
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By Khalid Al Ansary Dezember 2023 at 18:02 MEZ Iraq’s water reserve is at its lowest level in decades, the government said, as the nation continues talks with neighboring Iran and Turkey to increase the flows to meet domestic consumption. “In 2018, we had (reserves) double of what we have this year” Oun Thiab, minister of water resources, said at a press conference,
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Baghdad (IraqiNews.com) – In a move to combat severe water scarcity in Basra, Iraq, Shanghai Electric, a Chinese state-owned company, has secured a contract to develop a sea water desalination plant. The agreement, reached with the Baghdad government, aims to construct a comprehensive desalination and hydroelectric plant complex in Southern Basra City. De
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Baghdad (IraqiNews.com) – The Iraqi Oil Ministry confirmed on Friday that the government takes into account oil price fluctuations through the OPEC+ group to lower risks and generate adequate revenues for the country’s treasury. The spokesperson of the Oil Ministry, Asem Jihad, told the Iraqi News Agency (INA) that the government is fully aware of the significance of t
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