VOL. XLVI

No 24

16-June-2003

IRAQ

Iraqs Gross Oil Revenue Around $5Bn In 2H 2003, Says Larson

Iraqs gross earnings from crude oil sales, before costs are deducted, could be in the region of $5bn for the second half of 2003, according to US Under Secretary for Economic, Business, and Agricultural Affairs Alan P Larson, in testimony before the Senate Foreign Relations Committee on 4 June. The calculation was based on the assumption that Iraqi crude was sold at $20/B and that the country was able to...