The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
By Mushreq Abbas for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. As soon as the oil agreement signed Dec. 2 between the Iraqi government and the Kurdistan Regional Government (KRG) was announced, optimism emerged in Iraqi and international circles, which considered the agreement to be the […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, today confirmed receipt of USD 30 million (36 billion Iraqi dinars) as first payment for oil exported by the Kurdistan Regional Government from the Tawke field during 2014. The payment will be shared by DNO (USD 20.625 million) and partner Genel Energy plc (USD […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq's government has reached a temporary agreement with authorities in the Kurdish region to end a dispute over oil exports and budget payments to the semi-autonomous region. Al Jazeera's Jane Arraf reports from […]
By John Lee. Baghdad and Erbil have reached an agreement resolving the long-running dispute over oil exports and budget payments. Finance Minister Hoshyar Zebari said that 550,000 barrels per day (bpd) of oil would be sent to the Iraqi oil ministry. In return, the Kurds will receive their 17% share of the national budget. The […]
By John Lee. Genel Energy has announced that the Taq Taq field partners have received an initial gross payment of $30 million (35 billion Iraqi dinars) from the Kurdistan Regional Government ('KRG') for oil exported through the Kurdistan Region of Iraq ('KRI')-Turkey pipeline. The Tawke field partners will also receive a $30 million gross payment. […]
By John Lee. Gulf Keystone Petroleum (GKP) has announced that, further to the recent statement by the Ministry of Natural Resources (MNR) of the Kurdistan Regional Government (KRG) regarding payment to producers for crude oil exports, an initial payment of USD 15 million (17.5 billion Iraqi dinars) gross has been made to the company. Gulf […]
By Mohammed A. Salih for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. While a recent deal between Baghdad and Erbil to export oil from the northern fields is seen by many as a breakthrough after years of stalemate, the prospect of further progress […]
By John Lee. Platts reports that Italy's Eni has provisionally booked a tanker to load an 80,000 mt cargo of Iraqi crude from the Turkish port of Ceyhan. Market sources said that the cargo is Kirkuk crude, and would be the first such cargo from the port since Baghdad and Erbil agreed to sell 150,000 […]
By John Lee. Oil Minister Dr. Adel Abdul Mahdi [Adel Abdel Mehdi] (pictured) has said that oil from the Kirkuk oil fields is now being pumped through the oil pipes and infrastructure built by the Kurdistan Regional Government (KRG). The Minister said: "150,000 oil barrels that include some oil produced from Kirkuk oil fields have […]
By John Lee. The Kurdistan Regional Government (KRG) has reportedly pumped 25 million barrels of crude oil through its independent oil pipeline to the Turkish port of Ceyhan. Turkish Energy Minister Taner Yildiz (pictured) said on Thursday that the oil was shipped from the port in 35 separate cargoes. (Source: Reuters)
By John Lee. Turkish refiner Tupras is to buy crude oil from Iraq Kurdistan sold by the Baghdad's State Oil Marketing Organisation (SOMO). The company's Deputy General Manager, Hasan Tan, told reporters the oil will be sent by pipeline to the Turkish Mediterranean port town of Ceyhan. The announcement comes a week after Baghdad and […]
By John Lee. The current average output from Iraq's southern oilfields is reported to be about 3 million bpd, according to a report from Reuters. Oil Minister Dr. Adel Abdul Mahdi [Adel Abdel Mehdi] told reporters that average export levels are about 2.5 million bpd. (Source: Reuters)
