The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
By John Lee. Reuters reports that Iraq's oil exports fell from $7.8 billion in July to $7.1 billion in August. Citing sources at the State Oil Marketing Organisation (SOMO), the report said that 73.6 million barrels of oil were exported in August at an average price of $97.4 per barrel, down from $102.8 in July. […]
By John Lee. The Kurdistan Region of Iraq has exported more than 14 million barrels of oil from its independent oil pipelines to Turkey in the last nine months, according to a report from BasNews. A spokesman for the KRG's Natural Resources Committee told the news agency that the exports have brought in over 1 […]
By John Lee. Iraq has taken legal action against Greece’s Marine Management Services (MMS) over its role in the export of crude oil from Iraqi Kurdistan, which Baghdad regards as illegal. The tanker concerned, the Marshall Islands-flagged United Kalavrvta (pictured), is still said to be fully laden off the coast of Texas, carrying $100m worth […]
By John Lee. The Kurdistan Regional Government (KRG) has reportedly resume the export of oil by truck to Iran. Iran closed its border crossings with the KRG for Kurdish crude oil exportation early last month. (Source: BASNEWS)
By Patrick M Schmidt. According to data collected by Reuters and estimates by other energy industry sources, exports from Iraq’s southern oil terminals averaged 2.3 million barrels per day worth of crude oil exports. This figure is almost 140,000 barrels per day less than Iraq’s July figure. Iraqi officials insist the decline was not because […]
By John Lee. Turkish officials close to their country's energy policy have announced that a total of 8 million barrels of oil have been exported via the Turkish port of Ceyhan. According to officials, while some buyers have been deterred by legal threats from Baghdad, the number of buyers is in fact increasing. The Kurds […]
By Patrick Schmidt. During an oil and gas conference in Norway, Chief Executive Officer of Kuwait Energy, Sara Akbar (pictured) noted that recent events in Iraq do not sour her outlook for the petroleum industry in Iraq. This statement follows the evacuation of oil engineers and workers from Iraq by select energy companies over the preceding […]
By John Lee. Gulf Keystone (pictured: CEO John Gerstenlauer) an independent oil and gas exploration, development and production company with operations in the Kurdistan Region of Iraq ("Kurdistan Region"), today announces its results for the six months ended 30 June 2014. Operational highlights · Gulf Keystone's operations in the Kurdistan Region remain secure and production […]
By Patrick Schmidt. According to a statement released by the Ministry of Oil, Iraq exported 75.7 million barrels of oil in July. This figure means that an average of 2.5 million barrels were exported per day and would mark a five percent increase in exports since July 2013. Iraq earned $7.74 billion worth of revenue […]
By Patrick Schmidt. A Kurdish oil tanker has arrived at the Croatian port of Omisalj and is preparing to begin offloading its cargo in the coming days. This delivery represents a success for the Kurdish Regional Government (KRG) in finding a buyer for their crude following legal threats from Baghdad. These threats have previously deterred […]
By Patrick M. Schmidt. In statements made to the Financial Times, Turkish officials have encouraged the United States to allow American businesses to import Kurdish oil. They argued that the United States should support the Kurdish Regional Government (KRG) economically as Islamic State of Iraq and the Levant (ISIL, ISIS) has been able to directly […]
By Patrick Schmidt. On Monday, August 11, Axeon Specialty Products announced that they would no longer accept any shipments of crude oil from the Kurdistan Regional Government (KRG). The tanker Minerva Joy arrived at a New Jersey port with the intention of delivering their cargo to Axeon; however, the tanker has not offloaded any of […]
