The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
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 […]
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 […]
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 […]
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 […]
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 […]
The Kurdistan Regional Government (KRG) has published its monthly production and export revenue overview for September 2016. During the month it exported 564.8k bpd from the Turkish port of Ceyhan, significantly up from the previous month’s figure, at an average price of $36.10 per barrel, bringing in revenue of $612 million. Please click here to view […]
By John Lee. Iraq's Ministry of Oil has agreed with Foster Wheeler to cooperate on implementing projects of increase oil storage and export capacity. At a meeting with representatives of the company, Mr. Fayadh H. Niema, the Senior Deputy Minister of Oil, said that the ministry is keen to develop and update the "exportation, reservation, […]
By John Lee. Iraq's Ministry of Oil has denied that there is any new agreement between Baghdad and Erbil regarding the export of crude oil. In a statement issued on Monday, the ministry confirms that "the last agreement is still active ... [and it] includes the budgets of the last two years in addition to […]
A pipeline pumping around 90,000 bpd from a field near Kirkuk to the Turkish port of Ceyhan (pictured) via Kurdistan reportedly stopped operations on Monday morning due to a "technical defect". North Oil Company (NOC) sources told Reuters on Wednesday that maintenance teams are working to repair the pipeline, which is expected to resume operations within […]
By John Lee. Platts reports that Iraq plans to export an average of 3.28 million barrels per day (bpd) of crude oil in October, a rise of 23,000 bpd from the previous month. It cites data from the State Oil Marketing Organization (SOMO) showing planned export volumes of 80.68 million barrels (2.6 million bpd) of […]
The Kurdistan Regional Government (KRG) has published its monthly production and export revenue overview for August 2016. During the month it exported 412k bpd from the Turkish port of Ceyhan, down from the previous month’s figure, at an average price of $32.44 per barrel, bringing in revenue of $414 million. Please click here to view or […]
By John Lee. Trading sources have told Reuters that Baghdad's State Oil Marketing Organization (SOMO) and Kurdistan have resumed joint exports of crude oil from the giant Kirkuk oil field. The field normally delivers 150,000 barrels per day via the Turkish port of Ceyhan (pictured). Exports have been suspended since March in a dispute over […]
