Iraq: Oil licensing packages after 2003 generated nearly a trillion dollars


The Iraqi Ministry of Oil said on Wednesday that the subsequent rounds of oil licenses earned roughly a trillion dollars in financial income for the national treasury.

This was said by Ali Maaraj, Undersecretary of the Ministry of Oil for Distribution Affairs, on the sidelines of the inauguration of the new tanker “Sumer” in the port of Khor Al-Zubair in Basra Governorate.

Maaraj lauded the national effort and successes made by the oil industry after 2003, as well as its commitment to growing production and exports and producing financial earnings for the state treasury, according to a statement published by the Ministry of Oil.

He emphasized the significance of licensing rounds, which contributed to an increase in national output of three million barrels and financial earnings of more than 900 billion dollars.


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