Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
Russia’s Gazprom Neft is expecting to start exporting from its East Badrah oil field in Wasit [Wassit] province early next year, according to AKnews. Alexander V Kolomatsky, Project director for the Middle East at Gazprom, said the company had initially planned to reach the 15,000 bpd level by the last quarter of 2013 because the […]
The output of OPEC in April hit its highest point since 2008 as extra crude from countries such as Libya, Saudi Arabia, and Iraq more than compensated from the loss of Iranian crude supply. Analysts found that the 12 member countries making up OPEC averaged 31.75 million barrels per day (mbpd). In April it was […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
Iraq has awarded a $523 million [612 billion Iraqi dinar] contract to expand oil export facilities in the south of the country to Leighton Offshore, a subsidiary of Australian firm Leighton International, according to AFP. Leighton is the Australian unit of Germany construction group Hochtief. The project must be completed within 16 months and will […]
Six of Cameron’s JISKOOT CoJetix sampling systems have been ordered for installation at the new Iraqi Al-Basra Oil Terminal (ABOT). The terminal, currently under construction in the Persian Gulf, will enable Iraq’s oil export capacity to be boosted by 2.7 million barrels per day. Due to the importance of this measurement location to Iraq, the […]
Volumes down, but revenues up Revenue from Iraq’s crude oil exports rose to $4.53 billion in October, the highest level this year, the State Oil Marketing Organization (SOMO) has revealed. The average price for exports in October was $77.10 per barrel, up from $73.07 in September and $71.43 in August. The country exported 46.2 million […]
Iraq's cabinet has just approved a $733 million [880 billion Iraqi dinar] deal to build a new oil export terminal in Basra, a spokesman for the Iraqi government said on Tuesday. The work will be carried out by Leighton Offshore Private Ltd., which was selected from four international companies invited to tender for the project. […]
Iraq exported around 320,000 barrels of oil to Jordan during August 2010, according to Aswat al-Iraq. “The transportation process by trucks is going very well,” a source told the news agency on Thursday. He referred to a high-level of coordination between Iraq and Jordan to facilitate the oil transportation process. (Source: Aswat al-Iraq)
Revenue from Iraq's crude oil exports increased 3% to $4.009 billion in July, compared with $3.889 billion in June, the Iraqi oil ministry said in a statement Tuesday. It said Baghdad sold its crude oil at an average price of $71.21 a barrel in July (versus $71.10 per barrel in June). July oil revenue brought […]
Minister of Natural Resources in the Kurdistan Regional Government, Ashti Hawrami, announced on Thursday that his ministry seeks to increase the daily oil production in the region to 3-4 million barrels in the next four years, noting that revenues will increase during this period to $25 billion [30 trillion Iraqi dinars]. “The region has 45 […]
Reuters reports that oil exports from Iraq’s Basra terminal recovered to 1.56 million barrels on Tuesday, after dropping to 720,000 barrels on Monday due to pipeline repairs. “The flow rate from Basra port is recovering after they finished repairs on some parts of the export pipeline yesterday evening,” a shipping source claimed. The shipper said […]
