Tag Archives | Iraq Oil Exports News

The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News

Southern Oil Exports Fall following OPEC Cut

By John Lee. In a sign that Iraq is following through on the OPEC decision to cut oil output, Reuters reports that oil exports from Iraq’s southern terminals have fallen so far in January. According to loading data and an industry source, exports from southern Iraq averaged 3.25 million bpd in the first 16 days […]

Oil Exports from Southern Ports reach New Record

By John Lee. Crude oil exports from the Iraq’s southern ports reached a new high in December. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] said in a statement on Monday that exports from the country’s southern and central fields averaged 3.510 million barrels per day last month, which is up from the 3.407 million bpd […]

Iran Denies Pipeline Deal with Iraqi Kurdistan

Iran has denied that it has reached an agreement with the Kurdistan Region of Iraq for laying joint oil pipelines. The public relations department of the Iranian Ministry of Petroleum announced on Tuesday that the country has made no agreements with the Iraqi Kurdistan for construction of two pipelines to deliver its crude oil to […]

Egypt plans to Import Oil Directly from Iraq

By John Lee. According to a report from Reuters, Egypt hopes to finalise a deal by the first quarter of 2017 to import crude oil directly from Iraq. Petroleum Minister Tarek El Molla (pictured) told reporters that Egypt aims to import between 1 million and 2 million barrels per month from Iraq: “We already use […]

KRG Announces Higher Oil Exports in Nov

The Kurdistan Regional Government (KRG) has published its monthly production and export revenue overview for November 2016. During the month it exported 588k bpd from the Turkish port of Ceyhan, up from the previous month’s figure, at a decreased average price of $35.05 per barrel, bringing in revenue of $568 million. Please click here to view […]

Iraq Oil Exports Break Record

By John Lee. Iraq’s Ministry of Oil has said that total oil exports for November have reached a record high of 4.051 million bpd. The figure is made up of 3.407 million bpd from the southern oilfields, 64,000 bpd from Kirkuk, and 580,000 bpd exported from fields controlled by the Kurdistan Regional Government (KRG). The Ministry […]

Iraq plans Lower Basra Crude Exports in December

By John Lee. Iraq plans to export 3.163 million bpd of Basra crude from its southern ports in December, according to a report from Reuters. The figure is slightly down on November’s plan. It would be made up of 2.437 million bpd of Basra Light, and 726,000 bpd of Basra Heavy. Iraq has also raised […]

KRG Announces Lower Oil Exports in Oct

The Kurdistan Regional Government (KRG) has published its monthly production and export revenue overview for October 2016. During the month it exported 540.9k bpd from the Turkish port of Ceyhan, down from the previous month’s figure, at an increased average price of $39.32 per barrel, bringing in revenue of $632 million. Please click here to view […]

Shell, Vitol increase UAE storage for Iraqi Oil

By John Lee. Shell and oil trading house Vitol are reported to be stepping up their operations in the port of Fujairah to store Iraqi crude. Shell, an equity partner in Iraq’s Majnoon oilfield, leased five large crude storage tanks at Fujairah port last year. Vitol has also started to store crude from Iraqi Kurdistan in […]

Glencore seeking to Increase Oil Trading with Iraq

By John Lee. Reuters reports that Glencore is seeking to increase oil trading with Libya, Iran and Iraq to beat what looks to be a much tougher trading environment compared with last year. Alex Beard, the company’s global head of oil, told the Reuters Commodities Summit that Glencore would be seeking to trade more crude from […]

Iraq to cut Basra Oil Exports in November

By John Lee. Reuters reports that Iraq plans to cut crude oil exports from its southern ports to 3.24 million bpd in November, down from the 3.28 million bpd planned for this month. According to data from a preliminary loading programme of the State Oil Marketing Organization (SOMO), exports of Basra Light grade are expected […]

Iraq Oil Export Rate Up Again in Sept

By John Lee. The daily average volume of crude oil exported by Iraq’s State Oil Marketing Organization (SOMO) rose to 3.276 million barrels per day in September, compared with 3.230 million bpd in August, according to the Ministry of Oil. The total for the 30-day month was 98,285,239 barrels, down from the 100.1 million barrels exported […]