The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
By John Lee. Iraq's State Oil Marketing Organization (SOMO) is reported to be restricting companies from reselling Basra crude oil on the spot market. Oil traders have told S&P Global Platts that SOMO wants to keep a greater share of the lucrative spot market for itself. The report adds that SOMO is merely implementing restrictions already embedded […]
By John Lee. Iraq has allocated 67 percent of its oil exports for 2019 to Asia, with 20 percent going to the Europe and 13 percent to the United States (or to according to Reuters, to North and South America). In a statement, the Ministry of Oil said the allocation was made based on the […]
By John Lee. Iraq’s Ministry of Oil has announced final oil exports for October of 107,821,261 barrels, giving an average for the month of 3.478 million barrels per day (bpd), a slight decrease from the 3.560 bpd exported in September. These exports from the oilfields in central and southern Iraq amounted to 107,530,008 barrels, giving $7.898 […]
By John Lee. Baghdad has reached an agreement with Kurdish authorities to resume exports from the Kirkuk oilfields, via the Turkish port of Ceyhan (pictured). In a statement on Friday, the Ministry of Oil said between 50,000 and 100,000 barrels per day would be exported through the pipeline on behalf of the Baghdad-controlled State 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. Iraq's new Prime Minister Adel Abdul Mahdi has opted for the policy of his predecessor, Haider al-Abadi, by committing himself to the US sanctions on Iran. A few hours […]
By John Lee. Iraq’s Ministry of Oil has announced interim oil exports for October of 107,530,008 barrels, giving an average for the month of 3.469 million barrels per day (bpd), a slight decrease from the 3.560 bpd exported in September. These exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan. […]
By John Lee. The Basra Oil Company (BOC) reportedly plans to increase production from 3.2 to 5 million barrels per day over the next seven years. According to Platts, BOC directror Ihsan Ismaael told the CWC Basra conference in Istanbul that the increased production would be sustained for at least 20 years after that. Among […]
Iraq is pursuing major infrastructure projects to add millions of barrels per day of export capacity, in an effort to keep pace with ambitious plans to raise production. In the short term, the Oil Ministry is looking to jump-start work on a long-delayed pipeline contract with the Australian company Leighton Offshore. Beyond that, Iraq is […]
By John Lee. Iraq’s Ministry of Oil has announced interim oil exports for September of 106,795,022 barrels, giving an average for the month of 3.560 million barrels per day (bpd), a slight decrease from the 3.583 bpd exported in August. These exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan. […]
By John Lee. Iraq’s State Oil Marketing Organization (SOMO) is reportedly trying to acquire storage tanks in Asia. According to Reuters, any deal may involve a profit-sharing arrangement. (Source: Reuters)
By John Lee. Iraq’s Ministry of Oil has announced interim oil exports for August of 111,016,618 barrels, giving an average for the month of 3.583 million barrels per day (bpd), an increase from the 3.543 bpd exported in July. These exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan. Revenues […]
By John Lee. Iraq’s Ministry of Oil has announced final oil exports for July of 109,857,705 barrels, giving an average for the month of 3.544 million barrels per day (bpd), an increase from the 3.521 bpd exported in June. These exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan. Revenues […]
