Iraq Record $2.6 Billion Oil Rev in Sept

[Lux]

Baghdad – Assem Jihad, spokesman for the Iraqi oil ministry, confirmed that the Iraqi oil revenues have made a record of 2.6 billion dollars last September. He noted, "This digit is the highest in the history of Iraq, since it started exporting oil during the first half of last century."

Iraq Achieves the Highest Oil Revenues in September (http://www.almendhar.com/english_7164/news.aspx)
(http://www.almendhar.com/english_7164/news_print.aspx)
:huge:
Lux

[lance]

Thanks Lux that is all I have been waiting on. Game, set, match. Lance

[Good_Karma]

Whooopeee. :D $2.6B is alot of dinars.

[DinarPimpVeteran]

Is it time to party yet?

[GladRobot]

i was looking at the export.gov report from june and it seems as this is a sizable increase from the reported projection.

oil revenue was estimated at
2005.....20.8billion...@$38 predicted spot market price
2006.....26.8billion...@$40
2007.....29.2billion...@$49


well 2.6 billion * 12 months is 31.2 billion.
thats with all the stopages and vandalizm.

it looks like from this assesment that, iraq is way ahead of the projected budget!

Where will the surplus go? current deficit?
They could stick with the budget and erradicate the subsidies, which is very close to the increase in revenue. i bet some iraqi's would argue that the high market price for oil should preserve the subsidies preservation and health. i assume we all are in favor of getting subsides out like the imf has strongly recomended.

This also could put more cash in the cbi's corner. The more cash means the ability to buy more dollars (and at higher rates) to drain the dinar in public.

they could also create a biodome to hold saddams trial inside. where all the lawyers and court workers could live free from harm of angry iraqis.

http://www.export.gov/iraq/pdf/iraq_development_strategy_063005.pdf

the current price of oil ($60 vs 38) is adding nearly 990 milllion extra dollars above projections each month into iraq!
now why cant they hurry up with setting up a solid electric grid and public water system? both of those project were around 1 billion per year.

[BigE]

Ka-Ching or Bada-Bing Bada-Boom, better yet.....


"SHOW ME THE MONEY!!

http://dragonflyglo.blogspot.com/jerry.jpg

[CaddieMan]

Whooopeee. :D $2.6B is alot of dinars.
That would be 3.882 trillion dinar each month. Or 27.7% of what is in circulation each month. Makes me want to say ...hhhhhmmmmmm....:confused:

[tmorr37]

bump up
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[botso]

That would be 3.882 trillion dinar each month. Or 27.7% of what is in circulation each month. Makes me want to say ...hhhhhmmmmmm....:confused:

Check the auctions out at the CBI homepage (www.cbiraq.org). You'll see that the CBI has purchased >13.2 TRILLION IQD since it started the auctions. The question is, how much made it back into circulation after it was purchased???

[CaddieMan]

Check the auctions out at the CBI homepage (www.cbiraq.org). You'll see that the CBI has purchased >13.2 TRILLION IQD since it started the auctions. The question is, how much made it back into circulation after it was purchased???
That is the million dollar question is it not botso. If we knew that one we would know if a reval was possible, and at how much. I wish someone in country had a source there. Hell I might even listen to that one.;)