The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
The Kurdistan Regional Government has published its Monthly Export Report for May 2015. The Kurdistan Regional Government (KRG) exported 17,906,242 barrels of crude oil (an average of 577,621 barrels per day (bpd)) in the month of May through the Kurdistan pipeline network to the port of Ceyhan in Turkey. Of this amount, fields operated by […]
By John Lee. Iraq exported an estimated 97 million barrels of oil in May through the State Oil Marketing Organization (SOMO), giving a daily rate of 3.13 million bpd. Early statistics indicate that this brought in revenues of $5 billion (6 trillion Iraqi dinars), equating to about $51.5 per barrel. (Sources: AIN)
DNO ASA, the Norwegian oil and gas operator, today announced a new daily record of 170,000 barrels of oil produced from the Tawke field in the Kurdistan region of Iraq, of which 30,000 barrels were sold into the local market and the balance allocated for export. Tawke production in the first quarter of 2015 was […]
By John Lee. Iraq is planning to boost crude exports by about 26 percent, according to a report from Bloomberg. Shipping schedules suggest exports of a record 3.75 million bpd in June. Deputy Oil Minister Fayyad al-Nimaa said recently that export capacity is currently capped at 3.1 million bpd. Commenting in Forbes, petroleum economist Michael […]
According to the April 2015 report published by the Kurdistan Regional Government, KRG, Ministry of Natural Resources, KRG commitments under the 2015 Federal Budget Law have been met, and oil production has reached record levels. According to an agreement on oil export and budget, reached last December between the KRG and the Federal Government of […]
By John Lee. A report from Argus claims that Iraq has scheduled greater-than-expected initial volumes of its new Basra Heavy crude oil grade. The State Oil Marketing Organization (SOMO) plans to load more than 1.2 million bpd of Basra Heavy in June, boosting total Iraqi sales from its southern export terminals to a record high […]
To review the latest prospects for and progress of the December 2, 2014 agreement between the KRG and the Federal Government of Iraq, a joint meeting between the Kurdistan Region Council of Ministers’ Presidency and Kurdistan representatives in Baghdad was held in Erbil on Wednesday. After being presented with details and data of oil export […]
By John Lee. Iraq plans to export a record volume of crude oil from its Gulf ports in June, reports Reuters. The State Oil Marketing Organization (SOMO) has reportedly allocated over 3.1 million bpd of Basra crude to buyers in a preliminary June loading programme, up from the usual monthly total of between 2.6 million […]
By John Lee. The Kurdistan Regional Government (KRG) has published the Monthly Export Report for April, 2015. The detailed report provides a summary of crude oil exports in April through the Kurdistan pipeline network to the port of Ceyhan in Turkey. The report also indicates the volumes provided to SOMO by the KRG in line […]
By John Lee. Iraq's oil exports hit a record 3.08 million bpd in April, according to Reuters, up from 2.98 mln bpd in the previous month, Exports from the southern terminals reached 2.627 million bpd, while exports from the north via the Kurdistan pipeline were 450,000 bpd. At an average price of $51.70 per barrel, […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Matter of National Security? The Turkish-Kurdish 'Secret Agreement' An 18-month-old “secret agreement” between Iraqi Kurdistan and Turkey goes for 50 years and potentially affects national security and oil exports. Nobody […]
By John Lee. Exports of Kurdish and Kirkuk oil through the Turkish port of Ceyhan have reportedly risen to 420,000 bpd. According to BasNews, this is up from 270,000 bpd in March. 2.5 million bpd were exported through Basra, giving a total of 2.92 million bpd, down from the March record of 2.98 million bpd. […]
