Oil exports and revenue increase

New June data from Ministry shows signs of growth while national oil company law makes progress to Parliament, 2nd bidding round set.

BAGHDAD - Iraq’s oil sales earned $3.7 billion in June, continuing its monthly gain since February on the backs of increased exports and rising oil prices.

Meanwhile, Iraq’s cabinet has approved a law reestablishing the national oil company to be charged with overseeing most operations. Also, Iraqi Oil Ministry spokesman Assem Jihad said the second auction, offering 10 oil fields to foreign investors, will take place by the end of November.

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