The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
By John Lee. India's oil ministry has instructed state refiners Indian Oil Corp and Hindustan Petroleum Corp (HPCL) to buy eight million barrels of Basra crude oil for delivery in May and June. The country is looking to build up its strategic petroleum reserve (SPR) at the current low market prices. A source told Reuters […]
By John Lee. Ashti Hawrami (pictured), KRG energy minister, has said that Iraqi Kurdistan is expected to reach financial self-sufficiency from Baghdad within months, despite central government withholding the region’s 17 percent share of budget. Speaking to Rudaw, he outlined plans to increase oil production to 750,000 bpd by the end of this year. In a […]
By John Lee. An un-named industry source has told BasNews that oil production in Kirkuk has risen to 400,000 bpd. He said that, to begin with, they were exporting only 150,000 bpd through the Kurdistan Region’s pipeline to Ceyhan Port in Turkey, but later increased this to 300,000 bpd, eventually reaching 400,000 bpd on Monday. […]
By John Lee. India's oil imports from Iraq have seen a sharp increase in January, according to Platts, climbing 56 percent to 2.48 million mt. Eklavya Gupte, associate editor, Europe and Africa crude oil, at Platts said: “Indian refiners are importing Iraqi Basrah light crude oil to compensate for the drop in imports from Iran […]
By Patrick Schmidt. Once the price of oil rises again, the Iraqi government hopes to fix some of the financial issues attached to the lower oil prices. The Ministry of Oil hopes to create incentives for international oilfield operators to produce more oil even when prices are high. Other discussions include ways to cut costs […]
By John Lee. Iraq plans to reduce crude oil exports from its southern ports in April. Reuters cites trade sources as saying that 2.4 million bpd will be exported in April, down from 2.65 million bpd in March, to make exports "more manageable". (Source: Reuters)
By John Lee. Oil Minister Dr. Adel Abdul Mahdi [Adel Abdel Mehdi] (pictured) has said he expects the country's oil exports to average 3 million bpd in March. According to the report from Reuters, this is assuming that the weather in the Gulf is good, and that Iraqi Kurdistan exports the quantities of crude oil […]
By John Lee. Pumping of crude oil from Iraqi Kurdistan to the port of Ceyhan in Turkey has reportedly been halted since Monday. An official at Turkey's state pipeline operator Botas said told Reuters that there had been a theft on the pipeline and that repairs would take around one to two days. (Source: Reuters)
By John Lee. Reuters reports that Iraq's oil exports rose in February to an average 2.597 million barrels per day, up from 2.535 million bpd in January. Iraq's southern terminals reached 2.293 million bpd, slightly down on the previous month due to bad weather, while exports from the north via the Kurdistan pipeline more than […]
By John Lee. The tanker which was blocked for months by a Baghdad legal challenge from unloading its 1 million barrels of Kurdish crude oil in Texas, has reportedly delivered its cargo to Israel. The United Kalavyrta [United Kalavrvta, United Kalvrvta] (pictured) spent several months off the coast of Texas after Baghdad tried to have […]
Kurdistan Region Prime Minister, Nechirvan Barzani told the press that Kurdistan Regional Government is committed to the agreement reached between Erbil and Baghdad last December on oil export and Kurdistan Region's share in the 2015 federal budget. In a meeting held yesterday with representatives of media outlets in Kurdistan Region, Prime Minister Barzani highlighted the […]
Turkish President Recep Tayyip Erdogan on Thursday received in Ankara Kurdistan Regional Government Prime Minister Nechirvan Barzani and his delegation. The two sides discussed the latest developments in the region, the war against the Islamic State terrorist organisation, ISIS and the role of Kurdistan Peshmerga Forces. They also discussed the agreement reached last December between […]
