The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
By Simon Kent. Kurdish and Iraqi officials are still thrashing out details of a more sustainable and far reaching oil revenue and exports deal, following the resumption of federal oil exports into the Kurdish pipeline from Kirkuk. Last week, 100,000 bpd of Kirkuk crude from Baba Gorgor, Jambour and Khabbaz, three fields in the giant Kirkuk […]
By Simon Kent. Prime Minister Haidar al Abadi (pictured) has remarked that the resumption of pumping oil into the Kurdish export pipeline from Kirkuk--from 70,000 bpd to an expected 150,000 bpd, is due to preserving the reservoir in one of the world's oldest oilfields. Previously oil was being re-injected by the federal North Oil Company […]
By Simon Kent. Iraq's Oil Minister Jabbar Ali al Luaibi has met with IOCs and asked them to do their utmost to increase production in Iraq's southern fields, which has fluctuated in 2016. The announcement, relayed by Ministry of Oil spokesman Asim Jihad, comes over a month before a meeting on the 26th of September […]
By Simon Kent. Newly appointed Minister of Oil Jabbar Ali al Luaibi has announced that the government's plan to review contracts with IOCs is still in effect. Iraq has long been seeking contracts which reflect lower prices, since the technical service contracts (TSCs) signed in 2009 remunerate IOCs for a fixed per barrel fee. This […]
By Simon Kent. Heightening speculation that a new, comprehensive deal may be reached between the Kurdish Regional Government (KRG) and Baghdad over oil exports and revenues, news has emerged that the federal North Oil Company (NOC) is allowing exports of Kirkuk crude via the Kurdish pipeline through Turkey. This could add up to 150,000 bpd […]
By Simon Kent. Gazprom Neft, the Russian oil and gas giant, has announced increased production at the Badra field, reaching an aggregate production of 3 million tons in less than two years, according to Sputnik news. Badra has estimated reserves of over 3 billion barrels, and this year Gazprom added another 3 wells, totaling an additional […]
By Simon Kent. Two recent reports point to the possibility of an imminent oil deal between Baghdad and Erbil over revenues and exports, following the breakdown of the fourth revenue and exports deal in early 2015. In an interview with Kurdish publication Rudaw, KRG spokesman Safeen Dizayee (pictured) noted that there was a positive view of new Iraqi Minister […]
By Simon Kent. Norway's DNO ASA have launched a new drilling campaign at Tawke, Oilvoice reports. The field, currently producing 117,000 bpd and selling at an average price of $34 per barrel, earned DNO $16 million in profit in the second quarter. DNO Chief Executive Bijan Mossavar-Rahmani (pictured) noted that the profits would help underpin the current new investment. […]
By Simon Kent. Iraq's new oil Minister Jabbar Al Luaibi, who was appointed April 14th, has remarked that the Kurdish Regional Government (KRG) and Baghdad are planning a new oil exports and revenue sharing deal to replace the one which collapsed in early 2015. According to Gulf News, Safeen Dizayee, a spokesman for the KRG also confirmed new […]
By John Lee. Platts reports that Iraq will export 3.257 million bpd of Basra crude oil in September, up 13 percent from August. According to a provisional loading schedule seen by Platts, this will consist of 2.324 million bpd of Basra Light and 933,333 bpd of Basra Heavy grade. This compares to 2.078 million bpd […]
The Kurdistan Regional Government (KRG) has published its monthly production and export revenue overview for July 2016. During the month it exported 457k bpd from the Turkish port of Ceyhan, down from the previous month's figure, at an average price of $32.53 per barrel, bringing in revenue of $461 million. Please click here to view or […]
By Simon Kent. Iraq's oil exports have been recorded at an average of 3.28 mbpd for July, a rise from 3.18 mbpd in June. This is good news for Iraq, although a two month fall in exports due to infrastructure problems was offset by a slight increase in the price of oil. In June, a […]
