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Iraq to benefit from higher oil revenues, report says

02/11/2008
The Iraqi government could earn an extra $19.2 billion in revenues this year because of higher oil prices and the revival of the country’s oil industry, according to a US government report.The increased revenues are supported by figures set out in the latest quarterly report from Stuart Bowen, the special inspector general for Iraq reconstruction, who is accountable to the US Congress.Bowen’s report says Iraq’s budget plans are being drawn up on the assumption of an average international crude price of $64/bbl in 2008 but that the actual figure likely will be $85/bbl.Concerning Iraq’s rise in revenues, Bowen’s report says the country’s average oil produ...
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