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Russian Ministry of Defense: 37 Ukrainian drones destroyed in 4 hours over regions of Russia and the Black Sea.
Sheikh Qassem: Our supporters make up more than half of Lebanon's population, and all of these people are united under the banner of protecting Lebanon, its Resistance, its people, and its integrity.
Sheikh Qassem: There will be no phased handing in of our arms. [The Israelis] must first enact the agreement before we start talking about a defensive strategy.
Sheikh Qassem: Be brave in the face of foreign pressures, and we will be by your side in this stance.
Sheikh Qassem: Stripping us of our arms is like stripping us of our very soul, and this will prompt us to show them our might.
Sheikh Qassem: We will not abandon our arms, for they gave us dignity; we will not abandon our arms, for they protect us against our enemy.
Sheikh Qassem: The US efforts we are seeing are aimed at sabotaging Lebanon and constitute a call for sedition.
Sheikh Qassem: If you truly want to establish sovereignty and work for Lebanon’s interests, then stop the aggression.
Sheikh Qassem: The United States, which is meddling in Lebanon, is not trustworthy but rather poses a danger to it.
Sheikh Qassem: The United States is preventing the weapons that protect the homeland.

Iraq's oil export revenues hit 50-year high

  • By Al Mayadeen Net
  • Source: Agencies
  • 2 Apr 2022 15:16
  • 3 Shares
2 Min Read

Iraqi oil export revenues hit an all-time high amid rising global energy prices.

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  • Tankers loading crude oil at Iraq's Al-Basra Offshore Terminal (AP)
    Tankers loading crude oil at Iraq's Al-Basra Offshore Terminal (AP)

Iraq's oil export revenues have reached a 50-year high according to Baghdad's Oil Ministry estimates.

According to the estimates, Iraq exported $11 billion worth of crude oil in March, meaning sales exceeding 100 million barrels.

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"Cumulative exports of crude oil in March rose to 100,563,999 barrels, with revenues hitting $11.07 billion, the highest total since 1972," the ministry said in a statement on Saturday. 

Iraq, an OPEC member state, exported 3.2 million barrels of crude oil a day at a price that averaged $110 per barrel in March. In February, it exported 3.3 million barrels a day, earning it what was then an eight-year high of $8.5 billion. In August 2021, it exported more than 90 million barrels of oil, earning it a total revenue of $6.5 billion at $72 per barrel.

Baghdad signed contracts with foreign oil companies in August to drill 131 new oil wells as part of Iraq's future plan to expand crude oil production capacities to 8 million barrels per day by the end of 2027.

The Director-General of the Iraqi Drilling Company at the Ministry of Oil, Bassem Abdul Karim, said Iraq has signed contracts with foreign oil licensing companies to drill 131 new oil wells and reclaim scores of wells currently operating in the Kirkuk, Baghdad, Basra, Maysan, and Nasiriyah oil fields.

 

  • oil exports
  • Oil prices
  • Oil Production
  • Iraq
  • Iraqi oil

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