Iraq: Budget Trimmed Due to Oil Prices

• Thursday, 29th January 2015
• by Egypt Oil & Gas

Falling oil prices forced Iraq’s cabinet to revise its draft 2015 budget, trimming its forecast for oil to $55 a barrel from $60.

Iran Scales Back Development Fund

• Wednesday, 28th January 2015
• by Egypt Oil & Gas

“The share of National Development Fund of Iran (NDFI) from oil [revenues] has been reduced to 20%,” Mohammad Mehdi Mofateh, spokesman for the parliament (Majlis) Ad Hoc Budget Review Committee, said on Tuesday.