The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
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 […]
A Kurdistan Regional Government senior delegation, headed by Prime Minister Nechirvan Barzani was received in Baghdad yesterday by Iraq’s Prime Minister Haider al-Abadi and a number of Iraq’s federal government officials. The two sides held two meetings during this one day visit of the Kurdistan Region delegation to Baghdad. The main objective of the meetings […]
By Patrick Schmidt. The Ministry of Oil announced that oil exports averaged 2.516 million barrels per day in January. This number represents a decrease of almost fifteen percent from December 2014. Based on international oil prices, this would create revenue of $3.258 billion. December 2014 boasted revenue of $5.161 billion for Iraq. Oil revenue makes […]
By John Lee. Anadolu Agency reports that international oil companies (IOCs) operating in Iraqi Kurdistan are reconsidering their investments as they have not yet been paid by the Kurdistan Regional Government (KRG). Gulf Keystone Petroleum (GKP) recently suspended crude oil exports by truck from Iraqi Kurdistan, and was reported in November as saying that it […]
By John Lee. Oil Minister Dr. Adel Abdul Mahdi [Adel Abdel Mehdi] has announced a plan to build new oil storage tanks to help smooth oil production during bad weather. Iraq's exports were restricted in January due to bad weather in the Gulf. (Source: AIN) (Oil tanks image via Shutterstock)
