The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
By John Lee. Reuters reports that loading of crude oil has resumed at al-Basra Oil Terminal (ABOT). Operations were stopped for 24-hours to install a new pipeline feeding the facility, the started again at midnight on Wednesday. (Source: Reuters)
By John Lee. Oil exports from Iraq's main gulf terminal have reportedly stopped from midnight on Tuesday for 24 hours to allow the installation of a new pipeline. Two sources at the South Oil Company (SOC) told Reuters that loading at the three single-point moorings (SPMs) connected with the Basra terminal will not be affected. […]
By John Lee. DNO ASA, the operator of the Tawke field, and its partner Genel Energy, have announced that they have received a payment of $35.45 million from the Kurdistan Regional Government (KRG) as payment towards November 2016 crude oil deliveries to the export market from the Tawke field. The payment reflects full settlement of […]
By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. On Jan. 15, Iraqi members of parliament, including Sadeq al-Mhanna from the ruling National Alliance, revealed that they are in possession of documents that prove the theft of 300,000 barrels […]
By John Lee. The South Oil Company (SOC) has started work on extension the Khor al-Amaya [Khor Al-Omaia] oil terminal (pictured) in Basra. Dredging operations have started with the intention of deepening of the shipping passages and anchor places for oil tankers. A Japanese loan will also facilitate the completion of the main transport pipeline, […]
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 […]
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 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 […]
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 […]
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 […]
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 […]
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 […]
