Iraq Earned $337.9b Oil Revenue Between 2011-2014, Minister Says

$39.1b, or 11.6% of revenue, was paid to foreign cos. as remuneration fees and profits in period, Oil Minister Adel Abdul Mahdi says on Facebook page.

  • Payments to cos. took up larger share of revenue, between 25-35%, after oil price slump
  • If oil stabilized at $75-80/bbl, share paid to cos. would be about 15% of revenue, which is acceptable level, minister says