Iraq expects highest monthly oil exports since '03
15/07/2009 02:08
BAGHDAD (Reuters) - Iraq's oil exports have reached an average 2.1 million barrels per day (bpd) in July so far, the finance minister said on Tuesday, putting them on track for the biggest month since the 2003 U.S.-led invasion.
Higher revenue from oil plus about $2 billion in fees from mobile phone companies will give the country a supplementary budget of up to $3 billion, Finance Minister Bayan Jabor told journalists in Baghdad.
"Now we are exporting 2.1 million bpd average and sometimes 2.15 million bpd," Jabor said. "This is delightful and encouraging."
Jabor said mobile phone companies had paid the Iraqi government $2 billion recently in punitive early licence fees.
Iraq's three mobile networks -- Korek, Asiacell and Kuwait's Mobile Telecommunications Co (Zain) -- were fined $18.6 million for poor service in May.
Jabor said that earlier, the government had forced the companies to repay their licence fees of $1.25 billion each, originally set to be received in three instalments. The bulk of that will be included in the supplementary budget.
"Therefore, the supplementary budget will be in the region of $2.8 billion up to $3 billion," Jabor said. "But I don't know what the cabinet will decide. It may increase it or reduce it."
15/07/2009 02:08
BAGHDAD (Reuters) - Iraq's oil exports have reached an average 2.1 million barrels per day (bpd) in July so far, the finance minister said on Tuesday, putting them on track for the biggest month since the 2003 U.S.-led invasion.
Higher revenue from oil plus about $2 billion in fees from mobile phone companies will give the country a supplementary budget of up to $3 billion, Finance Minister Bayan Jabor told journalists in Baghdad.
"Now we are exporting 2.1 million bpd average and sometimes 2.15 million bpd," Jabor said. "This is delightful and encouraging."
Jabor said mobile phone companies had paid the Iraqi government $2 billion recently in punitive early licence fees.
Iraq's three mobile networks -- Korek, Asiacell and Kuwait's Mobile Telecommunications Co (Zain) -- were fined $18.6 million for poor service in May.
Jabor said that earlier, the government had forced the companies to repay their licence fees of $1.25 billion each, originally set to be received in three instalments. The bulk of that will be included in the supplementary budget.
"Therefore, the supplementary budget will be in the region of $2.8 billion up to $3 billion," Jabor said. "But I don't know what the cabinet will decide. It may increase it or reduce it."