Economy News

The cost of producing a barrel of oil in Iraq

Al-Iktissad News received special documents relating to the oil sector in Iraq.

The documents confirm that the cost of producing a barrel of oil in Iraq for 2019 estimated at 9.5 dollars, the lowest in the world after Kuwait..

The cost of production was estimated at $ 10.7 in 2017..

With regard to «service contracts for licensing rounds», the documents indicate that the profitability wages of companies engaged for each additional barrel product ranging from $ 1.15 to $ 7.5. Source