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Record oil revenues near $11 billion in March

Revenues surged due to spiking global prices, but exports dipped as infrastructure delays threaten to constrain oil sales going forward.
A worker from Iraq's State Company for Oil Projects welds the pipeline connecting the Zubair-1 and Zubair-2 oil depots to the Fao depot, providing more flexibility for both exports and feeding the Shuaiba refinery. (Source: Basra Oil Company)

Iraq's federal government earned a record $10.913 billion in oil export revenues in March as global oil prices spiked as a result of Russia's war on Ukraine.

Iraqi Ministry of Oil figures showed a slight dip in exports from oil fields under federal control, which fell in March to 3.245 million bpd from 3.314 million bpd in February.

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