Iraq - 03

Iraq: The 2016 Budget: Early Pointers for IOCs

On 16 August Oil Minister Adel Abd’al-Mahdi issued a statement outlining ideas for a radically stripped-down 2016 federal budget. In one of the opening shots in the campaign to build a new austerity budget, Abd’al-Mahdi envisaged basing the budget on a very low assumed oil price of “$40-50/barrel” and “3mn bpd of exports from the