Photo: AFP/Asaad Niazi
Eurasia
23/01/2024 09:28
Iraq earned $97.6 billion from oil sales in 2023, a significant drop from the record $115 billion in 2022. In December, Iraq exported more than 108 million barrels of oil, averaging 3.4 million barrels per day at an average price of $77 per barrel.
The revenues from December brought Iraq's total annual revenue to $97.6 billion, down roughly $18 billion from 2022, although the revenue at the time was mainly driven by a surge in global oil prices amid fears following Russia's invasion of Ukraine. Additionally, the decline in annual revenue was partly due to the halt of Kurdish oil exports in April.
A regular direct flight shuttles between Budapest, Hungary's vibrant capital, and Ningbo, China's eastern maritime hub, spanning 5,000 kilometers of geography but bridging continents in trade and investment.
"Hungary is a gateway to Europe for Asian companies, while Hong Kong serves as a gateway to Asia for European companies," Alpha Lau, Director-General of Investment Promotion at InvestHK – a Hong Kong government agency – told our paper at the Guangdong-Hong Kong-Macao Greater Bay Area and Hungary (Europe) Economic and Trade Cooperation Conference in Budapest.