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 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 […]
By John Lee. Iraq’s crude oil exports from its southern ports rose to 3.230 million bpd in August, compared with 3.202 million bpd in July, according to the Ministry of Oil. Revenues for the month hit $3.93 billion, giving an average selling price of $39.248 per barrel. (Source: Ministry of Oil)
By John Lee. The State Oil Marketing Organization (SOMO) has reportedly blacklisted three tankers involved in shipping crude oil from Iraqi Kurdistan. The company, part of the Ministry of Oil, said it would no longer allow the ships Maran Centaurus, Four Smile and SN Olivia, which had been shipping Kurdish oil, to enter Iraqi ports […]
By John Lee. Iraq would reportedly consider selling crude through Iran if talks with Iraqi Kurdistan on an oil revenue-sharing agreement fail. Deputy Oil Minister Fayadh al-Nema told Reuters that Iraq's State Oil Marketing Organisation (SOMO) plans to hold talks with the Kurdish Regional Government (KRG), possibly this week. He said "If the negotiations come […]
