The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
By Patrick M Schmidt. The United Nations Security Council has released as statement following concerns about radical groups in Iraq and Syria using captured oil fields as a means to generate revenue for their organizations. The statement read “that any oilfields and related infrastructure controlled by terrorist organizations could generate material income for terrorists, which […]
By Patrick M Schmidt. On Sunday, the United States Coast Guard granted permission for the Kurdish oil tanker, United Kalavrvta, to offload its payload of crude oil from Kurdistan Regional Government (KRG) controlled oilfields in northern Iraq. The State Department further indicated that they would not prevent tanker from offloading at port in Galveston, Texas […]
By Patrick M Schmidt. After a long journey across the Atlantic Ocean, the oil-tanker, United Kalavrvta [United Kalavryta], is just miles off the coast of Florida. The tanker is loaded with one million barrels of crude oil that has a current market value of approximately $100 million (117 billion Iraqi dinars). The oil onboard is […]
By Patrick M Schmidt. The Iraqi government has confirmed that ISIS militants, who maintain a foothold in northern Iraq, are taking advantage of the oil infrastructure they have captured during the previous month of battles with security forces. ISIS militants have made attempts to keep oil infrastructure intact and to keep petroleum industry employees on […]
By John Lee. Turkish officials have announced that the flow of crude oil to the port of Ceyhan (pictured) will be resumed in the coming days, after oil tankers at the port are loaded. The flow was stopped last week when the port reached its storage capacity. According to Daily Sabah, the total storage capacity […]
By John Lee. Oil Minister Abdul Kareem al-Luaibi [Elaibi] (pictured) said on Wednesday that Iraq is currently producing oil at a rate of 3.15 million bpd, and expects exports this month to average 2.6 million bpd. Reuters quotes Luaibi as saying that the recent fighting in the north and west of the country had not […]
By Padraig O'Hannelly. The Kurdistan Regional Government (KRG) has upped the ante in the continuing dispute with Baghdad over oil export revenues. In response to what it describes as "the Iraqi federal government ... not sharing revenues in accordance with the Iraqi Constitution", the KRG has threatened to take legal action against anyone who buys […]
By John Lee. Oil Minister Abdul Kareem al-Luaibi [Elaibi] (pictured) has said that the Iraqi government is dedicated to supplying the ideal safe environment for international companies working in Iraq: "Work in oil refining facilities and oil fields is normal and the ministry has supplied the extra protection needed for those locations by coordinating with […]
The Kurdistan Regional Government (KRG) threatened on Wednesday to take legal action against buyers of Iraqi oil unless the autonomous region is paid its share of revenue from any sales. The full text of the statement from the KRG follows: Under Article 112 of the Iraqi Constitution, the Iraqi federal government is legally required to […]
By John Lee. Iraq’s Supreme Court has turned down a request from oil minister Abdul Kareem al-Luaibi [Elaibi] to issue a temporary injunction against the Kurdistan Regional Government to prevent direct oil exports from the region. According to a report from Rudaw, the unanimous ruling prompted the KRG to declare victory in its dispute with Baghdad […]
By John Lee. The KRG's Minister for Natural Resources, Ashti Hawrami (pictured), has told Reuters that the Kurds have plans to increase their oil exports eight-fold by the end of 2015. He said Kurdish oil exports could double "within a month or so" to around 250,000 bpd and hit 400,000 bpd by the end of […]
The following article features an interview with Mantid International CEO Ginger Cruz. Robert Tollast’s opinions expressed in the article do not necessarily represent the views of Mantid International, nor do the opinions expressed here necessarily reflect the views of Iraq Business News. The vast majority of Iraqis, Shi'a, Kurd and Sunni, are preparing themselves to […]
