Iraq’s April oil revenues barely cover salaries and licensing fees, economist says

Shafaq News/ Iraqi oil revenues for April are only sufficient to cover public sector salaries and oil licensing company expenses, economic expert Nabil Al-Marsoumi said on Tuesday.

Al-Marsoumi stated that “a drop in Iraq’s oil exports and a decline in global oil prices—from $72.5 per barrel in March to $66.7 in April—led to a 15% decrease in revenues, from $7.716 billion to $6.738 billion.”

The Iraqi Ministry of Oil confirmed these figures in a statement released Monday, outlining its final export and revenue statistics for April, based on data from the State Organization for Marketing of Oil (SOMO).

According to the ministry, Iraq exported a total of 100,953,282 barrels of crude oil in April, generating $6.738 billion in revenue.

The majority of exports—99,752,879 barrels—came from fields in central and southern Iraq. Additionally, 900,584 barrels were exported from the Qayyarah field in Nineveh province, while 299,819 barrels were exported to Jordan.