The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
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)
By John Lee. In a joint meeting held on Thursday between the Kurdistan Region Prime Minister, Nechirvan Barzani, Deputy Prime Minister, Qubad Talabani, and Iraqi Oil Minister Dr. Adel Abdul Mahdi in Erbil, both sides agreed to reach a comprehensive settlement of all the outstanding issues between the Iraqi federal government and the Kurdistan Regional […]
By Robert Tollast. Luay al-Khairullah has reason to be optimistic. As Chairman of the Dhi Qar Provincial Investment Commission, I spoke to him last year about the planned Nasiriyah Integrated Project (NIP) a 300,000 barrel a day capacity refinery not far from his home town. It's a project that will create much needed jobs and provide […]
By John Lee. Gulf Keystone Petroleum (GKP) has given an update this morning on its operations at Shaikan, its key producing asset. Shares in the company are up more than 70 percent from their low in October. The Company is on track to complete all remaining work in order to achieve 40,000 gross barrels of […]
By John Lee. Genel Energy has issued the following trading update and preview ahead of a capital markets day presentation for analysts and investors in London commencing at 14:00 GMT. The presentation materials will be published at 12:00 GMT on www.genelenergy.com with the event broadcast live on the website, and available for download shortly afterwards. […]
Kurdistan Region Prime Minister Nechirvan Barzani and Deputy Prime Minister Qubad Talabani talked to the press following yesterday’s Parliament session hosting the Kurdistan Region Oil and Gas Council. Prime Minister Barzani said the Region would not hand oil control to the Iraqi State Oil Marketing Organisation, SOMO. He noted the federal government cannot export oil […]
By John Lee. On a three-day visit to Turkey, Iraq’s foreign minister Ibrahim al-Jaafari has reportedly told his Turkish counterpart, Mevlut Cavusoglu, that oil affairs in Iraq, including Iraqi Kurdistan, come under the control of Baghdad. At a join press conference he said that they are trying to resolve the recent “mistakes” with Turkey, a […]
By John Lee. Iraq's exports of 76.282 million barrels of crude oil in October brought in $6.241 billion [7.3 trillion Iraqi dinars] in revenues, according to the Iraqi Oil Ministry. AIN reports that Iraq averaged exports of 2.461 million bpd for the month at an average selling price of $81.82 dollars a barrel. These exports […]
By John Lee. Reuters reports that Iraqi Kurdistan plans to increase the capacity of its oil pipeline to the Turkish port of Ceyhan to 700,000 bpd. Work to upgrade the line is expected to boost the flow from 280,000 bpd at present to 400,000 bpd by year-end, eventually reaching the design maximum of 700,000 bpd. A […]
By John Lee. Nechirvan Barzani (pictured), Iraqi Kurdistan's Prime Minister, has denied reports that Iraq’s State Oil Marketing Organization (SOMO) will open an office in Erbil. Kurdish MP, Dilshad Sha’ban, has also told BasNews: “After we heard reports of SOMO wants to open office in Kurdistan region, we followed on the report, and we found […]
By John Lee. Reuters reports that oil exports from Iraq's southern terminals are "close to a record high" in October. Kurdish shipments are also reported to be increasing, despite the continuing unrest in the country. Exports from the southern terminals have averaged 2.55 million bpd for the first 23 days of October, slightly up from […]
