Tag Archives | Ceyhan

Baghdad “Looks to Take Control of KRG Oil”

By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.  The Iraqi State Organization for Marketing Oil (SOMO) announced Nov. 2 that it is arranging with Turkey to allow SOMO to sell Iraqi crude from the disputed territories […]

Baghdad Denies New Oil Export Agreement with Erbil

By John Lee. Iraq’s Ministry of Oil has denied that there is any new agreement between Baghdad and Erbil regarding the export of crude oil. In a statement issued on Monday, the ministry confirms that “the last agreement is still active … [and it] includes the budgets of the last two years in addition to […]

Iraq, Kurdistan “Jointly Exporting Kirkuk Oil”

By John Lee. Trading sources have told Reuters that Baghdad’s State Oil Marketing Organization (SOMO) and Kurdistan have resumed joint exports of crude oil from the giant Kirkuk oil field. The field normally delivers 150,000 barrels per day via the Turkish port of Ceyhan (pictured). Exports have been suspended since March in a dispute over […]

Abadi: Kirkuk Resumption Protects Reservoir

By Simon Kent. Prime Minister Haidar al Abadi (pictured) has remarked that the resumption of pumping oil into the Kurdish export pipeline from Kirkuk–from 70,000 bpd to an expected 150,000 bpd, is due to preserving the reservoir in one of the world’s oldest oilfields. Previously oil was being re-injected by the federal North Oil Company […]

New Oil Minister Luaibi Backs Deal With Kurds

By Simon Kent. Iraq’s new oil Minister Jabbar Al Luaibi, who was appointed April 14th, has remarked that the Kurdish Regional Government (KRG) and Baghdad are planning a new oil exports and revenue sharing deal to replace the one which collapsed in early 2015. According to Gulf News, Safeen Dizayee, a spokesman for the KRG also confirmed new […]

Turkey Thwarts Bomb Attack on KRG’s Oil Pipeline

By John Lee. The Tukish Ministry of Energy and Natural Resources has said its security forces defused a bomb on Saturday on the oil pipelines between Iraqi Kurdistan and Ceyhan port in Turkey. The ministry claimed that the Kurdistan Workers’ Party (PKK) was behind the attempted attack. (Source: BasNews) (Sabotage image via Shutterstock)

Southern Exports Remain High

By Simon Kent. Iraq’s southern oil exports remained close to their recent record of 3.37 million bpd, which was hit in November, Reuters reports. Possibly lessened by several days of maintenance work at the Single Point Moorings at the Basra terminals, the figures for December were slightly lower, at 3.27 million bpd. This closes a good year […]

Gulf Keystone Announce Shaikan Milestone

By Simon Kent. Gulf Keystone have announced that the Shaikan field in the Kurdish region of Iraq (KRI) has now exceeded 15 million barrels of commercial production. According to the company, this amounts to a daily average production in excess of 40,000 barrels of oil gross. The oil is trucked to the Turkish border before […]

Iraqi Kurdistan Pays $75 Million to IOCs

By Simon Kent. The Kurdish Regional Government (KRG) has released a statement saying it has put aside $75 million to pay three IOCs, Genel Energy, DNO and Gulf Keystone. The announcement follows payment disruption to the IOCs from the ongoing Baghdad–Erbil revenues and exports dispute. Additionally, the KRG has pledged regular payments, welcome news to the […]

Baghdad Cancels Ceyhan Oil Schedule

By John Lee. According to a report from Platts, 9 of the 14 tankers intending to load oil from Iraq’s State Oil Marketing Organization (SOMO) at the Turkish port of Ceyhan in June, have had their orders cancelled and have left the area. The remaining five are also cancelled but are still waiting, as they […]

Ceyhan Tanker Cancellations Increase

By John Lee. Oil firms expecting to load Kirkuk crude at the Turkish port of Ceyhan have had to cancel tankers, as the Kurdistan Regional Government ramps up independent oil sales at the expense of sales through the State Oil Marketing Organization (SOMO). According to a report from Reuters, tanker cancellations included Eni’s Seanostrum, Socar’s […]

Ceyhan: Some Oil Cargoes Cancelled

By Simon Kent. Sources at Ceyhan have told Reuters that there is insufficient oil in the Iraqi State Oil Marketing Organization (SOMO) tanks at the port to fill planned cargoes. Both BP and Spain’s Cepsa have cancelled shipments, and no oil has gone to SOMO storage for the past ten days. According to sources, this […]