• Home
  • Oil Rig Operations In Iraq Drastically Declining
On May 27, after international oil companies (IOC) were ordered to cut spending, oil rig operations in Iraq declined by nearly two-thirds. Iraq is now operating 31 rigs, down from 76 in December with IOCs operating around 32, down from 88. This drastic decline decreased Iraq’s oil revenue from $6.16 billion in January to $1.4 billion now.

Oil Rig Operations In Iraq Drastically Declining

On May 27, after international oil companies (IOC) were ordered to cut spending, oil rig operations in Iraq declined by nearly two-thirds. Iraq is now operating 31 rigs, down from 76 in December with IOCs operating around 32, down from 88. This drastic decline decreased Iraq’s oil revenue from $6.16 billion in January to $1.4 billion now.

Subscribe
Subscribe to Receive Latest Updates from GIF.