August 27th, 2009
Oil exports from Iraq reached the highest level in July 2003, totaling 63 million barrels, according to statements of Assem Jihad, Oil Ministry spokesman, quoted AFP.
Figures made public by Jihad show in July that Iraq exported 63 million barrels to 57 million barrels in June.
As regards the profit from export activity, at the average of oil price of 64.42 dollars per barrel, Baghdad received 4.66 billion dollars. Iraq has prepared the budget for 2009 taking into account an average oil price of 50 dollars per barrel.
The current level of oil exports is comparable to that of 2003, when oil exports were about two million barrels a day, equivalent of 62 million barrels per month. Oil represents 87% of total revenue in Iraq, state that intends to double its exports over the next five years.
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Posted in Finance, Forex, Money, Trade | No Comments »
July 30th, 2009 | No Comments »
British Petroleum (BP), the second largest petroleum company in Europe has shown a profit down 53% in the second quarter of this year because of low prices of energy products, Bloomberg reported.
Thus, the company achieved a profit of 4.39 billion dollars from 9.36 billion dollars, as recorded in the same period last year.
Per share, profit was 23.16 cents, from 49.23 cents. Refining margins have fallen,... Read More
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July 28th, 2009 | No Comments »
U.S. exchanges opened the Friday session down, in the context of the disappointing financial results published by Microsoft Corp. and American Express Co. that have affected investor confidence, after what optimism was brought by the Dow Jones index, went above 9,000 points.
The Dow Jones industrial fell with 0.39% at 9034.29 points, while the Nasdaq index lost 1.43% to 1945.31 points. Index Standard... Read More
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July 23rd, 2009 | No Comments »
In the U.S. stock indices have returned less in the Wednesday session after an increase of 8 consecutive sessions that sent to the maximum of recent 9 months.
After the results below expectations of banks and declining stocks of companies in the energy sector have affected a lot investor confidence, writes Reuters.
Dow Jones Industrial Index fell by 0.39%, Standard & Poor’s 500 by 0.05%.
Electronics... Read More
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July 20th, 2009 | 1 Comment »
European banking opened Monday session in climbing for the sixth consecutive days, based on the fund expensive bank securities after the market was covered by the optimism generated by a possible injection of three billion U.S. dollars granted to CIT Bank Group, transmits NewsIn.
Pan-European index FTSEurofirst 300 advanced by 0.9% to 878.61 points. The amount increased by approximately 35% from the... Read More
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July 16th, 2009 | No Comments »
The United States and other developed economies would return to growth until the end of this year or no later than early 2010, is opinion Timothy Geithner, U.S. Treasury Secretary.
Geithner has confessed that there are still significant dangers in the world, but the foundation for economic recovery in the U.S. and not only, have already been made, write Times.
Global economy could face with a series... Read More
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