Iraq’s revenues from oil exports jump 62% in the first half of 2021

oil fieldenergy

Economy News – Baghdad

Iraq achieved an increase in oil export revenues during the first half of 2021 on an annual basis, despite the decrease in the exported quantities of crude, and with the support of the remarkable improvement witnessed by international oil prices; After absorbing the shocks of the successive waves of the Corona pandemic and improving economic activity.

Revenues from Iraqi oil exports increased, according to a statistic prepared by “Mubasher” and viewed by “Economy News”, based on official data from the Iraqi Oil Marketing Company “SOMO”, by 61.95% during the first half of 2021, with an increase of $12.69 billion compared to revenues of $12.69 billion. The same period last year.

The value of Iraqi crude oil exports amounted to 33.18 billion dollars in the first half of this year, compared to 20.49 billion dollars during the same period in 2020.

Exports rose during the month of April at the highest pace in the first half of 2021, with an increase of 267.5 percent year on year, equivalent to more than $4 billion.

The month of June recorded the highest level of exports during the first half of 2021 at $6.14 billion, achieving an annual increase of 113.95%.

Decreased exported quantities by more than 65 million barrels

Iraq’s revenues from oil exports rose in the first half of 2021, despite a decrease in exported quantities by 10.96 percent during that period, a decline equivalent to 65.01 million barrels.

The total quantities of crude exported by Iraq amounted to 528.16 million barrels, compared to 593.17 million barrels in the first half of 2020.

Exports declined during the first 5 months of this year on an annual basis, but rose during June on an annual basis by about 2.7% to more than 86.76 million barrels.

Exports fell at the highest pace in February, by 15.7% on an annual basis, recording the lowest level of exports during the first half of 2021 by 82.88 million barrels.

The average price of a barrel increased by 81.5%

supporting the growth of Iraqi oil export revenues in the first half of 2021; The average selling price of a barrel of oil increased by 81.5% during that period on an annual basis.

The average price of a barrel of oil during the first half of 2021 amounted to about $62.81, compared to $34.61 in the same period last year, which witnessed a sharp decline in the price of black gold, affected by the Corona pandemic and its impact on global economic activity, as well as the price war between producers due to production before Reaching a policy to support the stability and balance of markets that led to an increase in the price of the barrel.

The price of a barrel of oil fell last year to a level of $14.64 a barrel during the month of April, coinciding with the outbreak of the first wave of the Corona pandemic, knowing that the price in the same month of this year amounted to $62.78 a barrel, rising by 328.85 percent.

Prices reached their peak in the first half of 2021 during the month of June; The price of a barrel rose to $70.80, recording an increase of 108.3% over its value in the same month last year.

Agriculture announces payment of dues to farmers and farmers for this crop

local| 04:18 – 30/07/2021


Baghdad – Mawazine News
, Minister of Agriculture, Muhammad Karim Al-Khafaji, announced on Friday the payment of the dues of fodder barley to farmers for the years 2019 and 2020.
This came in a statement transmitted by the official spokesman for the ministry, Hamid Al-Nayef, and Mawazine News received a copy of it, in which he confirmed that Minister Al-Khafaji made great efforts to follow up on the entitlements of farmers and farmers, which came as a result based on what he presented to the Council of Ministers and the Ministerial Council for the Economy as well as the Ministry of Finance and through Amounts available from the sale of this crop by the Mesopotamian General Seed Company and the Iraqi Seed Company (mixed sector).
Al-Khafaji added in the statement, that the discussions and follow-up resulted in the approval of the Ministry of Finance to pay farmers’ dues for the fodder barley crop and from the sums collected by the two companies as a result of selling this crop to livestock breeders at subsidized prices, noting that the Ministry after this decision paid what it owed to farmers from the dues of wheat and barley crops. and maize in full for the years 2019 and 2020.
Al-Khafaji stressed that he will continue his efforts to hand over all the dues of the marketed farmers to the Ministry of Trade, which have become ruling sums within the budget, stressing that the delivery of the farmers’ dues in full has positive repercussions on the agricultural sector as it encourages farmers to rehabilitate their lands, in addition to increasing agricultural production in quantity and quality, and the price Al-Khafaji’s efforts are made by the Ministry of Finance to support the agricultural sector according to the available financial liquidity, because the agricultural sector is of great importance in achieving food security for the Iraqi citizen and its support has become a national matter. Ended 29/R77

In the third attack in 24 hours, an explosion targets a coalition convoy in Babylon

securitybreakingInternational AllianceExplosioncolumn 2021-07-30 06:21A-AA+

Shafaq News/ A security source reported that an explosive device exploded on Friday on a convoy of trucks carrying logistical equipment for the international coalition led by the United States in Babil Governorate.

The source told Shafaq News Agency, that the device exploded as the convoy passed on the Babel Expressway, without injuries or significant damage.

This is the third attack of its kind in the past 24 hours, after two similar attacks in Dhi Qar and Babil on Thursday.

On Thursday, a Katyusha missile targeted the Green Zone, where the US embassy, ​​along with Iraqi military forces hosting Americans, has been under repeated attacks for months.

The new attacks come despite Baghdad and Washington, on Monday, reaching an agreement to withdraw US combat forces from Iraq by the end of this year.

Since 2014, Washington has been leading an international coalition to combat ISIS, which took over a third of Iraq at the time, with about 3,000 coalition soldiers deployed in Iraq, including 2,500 Americans.

Al-Halbousi brings news from Nineveh regarding the salaries of the governorate’s employees saved

politicsMohammed Al-Halbousiemployee salariesNineveh Governorate 2021-07-30 06:19A-AA+

Shafaq News / The Speaker of the Iraqi Parliament, Muhammad al-Halbousi, announced on Friday the release of all the salaries saved for the employees of Nineveh governorate departments, next week.

This comes in conjunction with a tour conducted by Al-Halbousi, since last Tuesday, in Nineveh Governorate, which began with a meeting with the security leaders in the governorate, before he embarked on a series of visits to the University of Mosul, the Engineers Syndicate, and the Technical Institutes Complex, in addition to his meeting with a number of political leaders there.

Al-Halbousi opened an office for the Progress Alliance, which he heads, in Nineveh Governorate, and held an electoral rally in it in preparation for running in the October 10 elections.