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UPDATE 1-Iraqi parliament approves 2021 budget of $89 billion

10 Apr 2021 / 08:59 H.
(Adds quote, details, background)
BAGHDAD, March 31 (Reuters) - Iraq s parliament on Wednesday approved a 2021 budget of 130 trillion Iraqi dinars ($89.65 billion) as the country wrestles with an economic and financial crisis due to low crude prices.
The budget deficit is estimated at 28.7 trillion Iraqi dinars ($19.79 billion), lawmakers said.
The 2021 budget set an oil price of $45 a barrel and expected oil exports of 3.25 million barrels per day (bpd), including 250,000 bpd from the Kurdish region, according to a budget document and lawmakers.
Iraq relies on oil to fund 97% of its state budget, and its commitment to an OPEC+ deal on reducing oil output has squeezed the finances of a government struggling to tackle the fallout from years of war and rampant corruption. ....

Liwa Irbil , Peter Cooney , Chris Reese , Wafa Al Shimmari , Moayed Kenany , Ahmed Rasheed , Masrour Barzani , Nayera Abdallah , Iraq Oil Marketing Company , Iraqi Kurdish , Iraqi Kurdistan , Kurdish Regional Government , Oil Marketing Company , Kurdish Prime Minister Masrour Barzani , பீட்டர் கூனி , கிறிஸ் ரீஸ் , இராக் எண்ணெய் சந்தைப்படுத்தல் நிறுவனம் , இராகி குர்திஷ் , குர்திஷ் பிராந்திய அரசு , எண்ணெய் சந்தைப்படுத்தல் நிறுவனம் ,

Iraqi parliament approves 2021 budget of $89 billion

By Reuters Staff
3 Min Read
BAGHDAD (Reuters) -Iraq’s parliament on Wednesday approved a 2021 budget of 130 trillion Iraqi dinars ($89.65 billion) as the country wrestles with an economic and financial crisis due to low crude prices.
The budget deficit is estimated at 28.7 trillion Iraqi dinars ($19.79 billion), lawmakers said.
The 2021 budget set an oil price of $45 a barrel and expected oil exports of 3.25 million barrels per day (bpd), including 250,000 bpd from the Kurdish region, according to a budget document and lawmakers.
Iraq relies on oil to fund 97% of its state budget, and its commitment to an OPEC+ deal on reducing oil output has squeezed the finances of a government struggling to tackle the fallout from years of war and rampant corruption. ....

Liwa Irbil , Peter Cooney , Chris Reese , Wafa Al Shimmari , Moayed Kenany , Ahmed Rasheed , Masrour Barzani , Nayera Abdallah , Thomson Reuters Trust Principles , Iraq Oil Marketing Company , Iraqi Kurdish , Iraqi Kurdistan , Kurdish Regional Government , Oil Marketing Company , Kurdish Prime Minister Masrour Barzani , Thomson Reuters Trust , பீட்டர் கூனி , கிறிஸ் ரீஸ் , தாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை ப்ரிந்ஸிபல்ஸ் , இராக் எண்ணெய் சந்தைப்படுத்தல் நிறுவனம் , இராகி குர்திஷ் , குர்திஷ் பிராந்திய அரசு , எண்ணெய் சந்தைப்படுத்தல் நிறுவனம் , தாம்சன் ராய்ட்டர்ஸ் நம்பிக்கை ,

Iraqi parliament approves 2021 budget of $89 billion

By Reuters Staff
3 Min Read
BAGHDAD (Reuters) -Iraq’s parliament on Wednesday approved a 2021 budget of 130 trillion Iraqi dinars ($89.65 billion) as the country wrestles with an economic and financial crisis due to low crude prices.
The budget deficit is estimated at 28.7 trillion Iraqi dinars ($19.79 billion), lawmakers said.
The 2021 budget set an oil price of $45 a barrel and expected oil exports of 3.25 million barrels per day (bpd), including 250,000 bpd from the Kurdish region, according to a budget document and lawmakers.
Iraq relies on oil to fund 97% of its state budget, and its commitment to an OPEC+ deal on reducing oil output has squeezed the finances of a government struggling to tackle the fallout from years of war and rampant corruption. ....

Liwa Irbil , Peter Cooney , Chris Reese , Wafa Al Shimmari , Moayed Kenany , Ahmed Rasheed , Masrour Barzani , Nayera Abdallah , Thomson Reuters Trust Principles , Iraq Oil Marketing Company , Iraqi Kurdish , Iraqi Kurdistan , Kurdish Regional Government , Oil Marketing Company , Kurdish Prime Minister Masrour Barzani , Thomson Reuters Trust , Commodities News 3rd Party , Central Banks Bank Events , Debt Fixed Income Markets , Economic News 3rd Party , Emerging Market Countries , Energy Trbc Level 1 , Energy Fossil Fuels Trbc Level 2 , Financials Legacy , Financials Trbc Level 1 , Government Borrowing Requirement ,

RPT-EXCLUSIVE-Iraq cuts crude oil supplies for most Indian refiners in 2021- sources

IOC, MRPL term volumes to drop by 10-17% - sources
BPCL, HPCL volumes expected to fall - sources
Reliance switches to Basra Medium from Basra Light - sources
NEW DELHI, Jan 21 (Reuters) - Iraq has reduced annual supplies of Basra crude oil to several Indian refiners by up to 20% for 2021, industry sources said, in a rare move by OPEC’s second-largest producer which is trying to meet its obligations under the group’s production deal.
Iraq was the top oil supplier to India in 2020 and a reduction in long-term Basra crude supplies could erode Baghdad’s market share in the world’s third largest oil importer and consumer. ....

India General , Florence Tan , Ihsan Abdul Jabbar , Ahmed Rasheed , Jane Merriman , Nidhi Verma , Thomson Reuters Trust Principles , Bharat Petroleum , Hindustan Petroleum , Indian Oil Corp , Iraqi Oil , Iraq Oil Marketing Company , Petrochemicals Ltd , Organization Of Petroleum Exporting Countries , Reliance Industries , Zhenhua Oil Corp , Basra Medium , Basra Light , Oil Marketing Company , Petroleum Exporting Countries , Oil Minister Ihsan Abdul Jabbar , Mangalore Refinery , Nidhi Verma Additional , Baghdad Editing , Thomson Reuters Trust , Iraq Oil Repeat ,

Exclusive: Iraq cuts crude oil supplies for most Indian refiners in 2021 - sources

Iraq has reduced annual supplies of Basra crude oil to several Indian refiners by up to 20% for 2021, industry sources said, in a rare move by OPEC's second-largest producer which is trying to meet its obligations under the group's production deal. ....

India General , Florence Tan , Ihsan Abdul Jabbar , Ahmed Rasheed , Jane Merriman , Nidhi Verma , Thomson Reuters Trust Principles , Bharat Petroleum , Hindustan Petroleum , Indian Oil Corp , Iraqi Oil , Iraq Oil Marketing Company , Petrochemicals Ltd , Organization Of Petroleum Exporting Countries , Reliance Industries , Zhenhua Oil Corp , Oil Marketing Company , Petroleum Exporting Countries , Oil Minister Ihsan Abdul Jabbar , Basra Medium , Basra Light , Mangalore Refinery , Thomson Reuters Trust , Asia Pacific , China Prc , Crude Oil ,