The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
By John Lee. The United States has pushed the Iraqi government to finalise an agreement with international oil companies (IOCs) to resume crude oil exports through the Iraq-Turkey Pipeline (ITP). At the daily press briefing on Wednesday, State Department spokesperson Tammy Bruce told reporters: "We're urging the Iraqi Government to reach an agreement ... with […]
By John Lee. Representatives from the Association of the Petroleum Industry of Kurdistan (APIKUR) member companies met with officials from the Government of Iraq (GoI) and the Kurdistan Regional Government (KRG) on March 6 to discuss the resumption of oil exports through the Iraq-Türkiye Pipeline. APIKUR reiterated that its member companies are ready to restart […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil export volumes for January, but has again not disclosed the value of oil exports for the month. This continues the practice of delayed or missing oil export data from the Ministry. Total exports of crude oil: 103,343,193 barrels. Exports from the oil fields in […]
By John Lee. The United States and Iraq have agreed on the need for Iraq to become energy independent, and to quickly reopen the Iraq-Türkiye Pipeline (ITP), which can transport oil from Northern Iraq and Iraqi Kurdistan to the Turkish port of Ceyhan. In an announcement following US Secretary of State Marco Rubio's call with […]
By John Lee. The Iraqi Ministry of Oil has reaffirmed its full commitment to the OPEC+ production agreement, including additional voluntary cuts and compensation for excess production. In a statemet on Monday, the Ministry will implement necessary measures to ensure compliance, including submitting an updated plan to offset previous overproduction. This commitment was reiterated during […]
By John Lee. The Association of the Petroleum Industry of Kurdistan (APIKUR) has said its member companies are ready to restart oil exports from Iraqi Kurdistan once agreements are in place. In a statement on X, the association called for written sales and lifting agreements with Baghdad and Erbil ensuring payment transparency and protection from […]
By John Lee. The Federal Ministry of Oil has confirmed the completion of procedures for resuming the export of oil produced in the Kurdistan Region through Ceyhan Port (pictured), in accordance with the mechanisms outlined in the Budget Law and its amendments and within Iraq's OPEC production quota. In a statement on Saturday, the Ministry […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul Ghani, highlighted the government's commitment to gas investment as a key driver for economic and industrial development at the Iraq Britain Business Council (IBBC) Baghdad Conference on Monday. He outlined Iraq's major achievements in the oil and gas sector, including: Adding 380,000 barrels per day to […]
By John Lee. The Council of Ministers of the Kurdistan Regional Government (KRG) has instructed the Ministry of Natural Resources (MNR) to maintain coordination with the federal Ministry of Oil, State oil Marketing Organization (SOMO), and oil-producing companies in the region to ensure the swift resumption of Kurdistan Region's oil exports through SOMO, with the […]
By John Lee. The Iraqi Parliament has voted to approve the first amendment to the Federal Budget Law (No. 13 of 2023) for the fiscal years 2023, 2024, and 2025. Proposed by the Finance Committee, the amendment aims to appoint an international technical advisory firm to assess fair production and transportation costs for oil fields […]
By John Lee. The Iraqi Ministry of Oil has reiterated that all crude oil exports adhere to global standards ensuring maximum transparency. According to a statement from the Ministry, Iraqi crude is sold to reputable international companies with certified refineries under Free on Board (FOB) terms from Iraqi export terminals. The ministry categorically denies any […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil export volumes for December, but has again not disclosed the value of oil exports for the month. This continues the practice of delayed or missing oil export data from the Ministry. Total exports of crude oil: 101,024,596 barrels. Exports from the oil fields in […]
