Deputy Prime Minister for Energy Affairs, Oil Minister Hayan Abdul-Ghani confirmed today, Tuesday, the ministry's keenness to achieve the highest financial revenues from marketing crude oil.

Abdul-Ghani said during his presidency of the monthly pricing meeting for Iraqi oil: "The ministry is keen to achieve the highest financial revenues from marketing crude oil in support of the federal budget, which it provides by more than 93 %."

Abdul-Ghani said, according to a statement by the Ministry of Oil, that the meeting aims to review reports and research related to developments in global oil markets during the past month and expectations and changes during the coming period, in order to take a pricing decision that is commensurate with that, and in a manner that achieves good financial revenue in line with these expectations and corresponds to the conditions of the oil market.

The Minister of Oil indicated that this meeting is held monthly in the presence of underscrataries and officials of the Iraqi Oil Marketing Company "SOMO", the regulatory and legal departments, and the companies and departments concerned, where the pricing of Iraqi oils that are contracted with international companies for the next month is done.

Source: National Iraqi News Agency