The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
By John Lee. Turkish Energy Minister Taner Yıldız (pictured) told journalists on Monday that a third shipment of oil from Iraq's Kurdistan Regional Government (KRG) had been transported via Turkey's Ceyhan pipeline and that a fourth was being prepared for shipment. According to a report from Cihan, the transactions for the oil sales are being conducted […]
By Ruth Lux, Managing Director of political risk consultancy Strategic Analysis. The security situation in Iraq has significantly declined over the last week. Mosul and Tikrit fell to the Islamic State of Iraq and the Levant (ISIS), an al-Qaeda off-shoot, and Tal Afar, in the Nineveh province, was seized on Monday. Additionally, Baquba, only 37 […]
By John Lee. The key to Iraq's unity is power-sharing, revenue-sharing and the implementation of the Constitution, Dr Ashti Hawrami (pictured), the Kurdistan Regional Government's Minister of Natural Resources, told a London conference yesterday, saying: “The policies of centralisation and discrimination have put Iraq's future at risk ... As of last week (following the crisis […]
By John Lee. Reuters reports that Iraqi Kurdistan is ramping up independent oil exports, with a third tanker of crude scheduled to leave the Turkish port of Ceyhan on 22nd June. The supply of oil through the Kurdistan Regional Government's new pipeline to Turkey has continued uninterrupted, despite the escalating violence in northern Iraq. Speaking […]
By John Lee. Oil Minister Abdul Kareem al-Luaibi [Elaibi] (pictured) said on Wednesday that Iraq's southern oil export facilities were secure, with shipments now running at around 2.6 million bpd, according to Reuters. Speaking to reporters ahead of an OPEC meeting in Vienna, he said: "All our exports now are from the Basra terminal in […]
By John Lee. Iraqi oil exports rose for a second consecutive month in May, according to a report from AFP. Exports of crude oil averaged 2.58 million bpd last month, up from April's 2.50 million bpd, raising $8.68 billion in revenues. All of the shipments were made from southern export terminals, following persistent attacks on […]
By Ufuk Sanli for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Kurdish administration in northern Iraq and the Baghdad government are at loggerheads over oil exports. The tanker carrying the first cargo of independently exported oil from northern Iraq is crisscrossing […]
By Harith Hasan for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. KRG Risks Isolation in Iraq by Exporting Oil through Turkey The announcement this month that the Kurdistan Regional Government (KRG) was exporting oil independently of the Iraqi central government was an […]
The Prime Minister yesterday addressed the Kurdistan Parliament at length regarding the Region's financial situation, disputes with Baghdad, natural resources, and other matters. An excerpt of his address is below: “The Kurdistan Region’s policy from the beginning has been based upon solving outstanding issues with Baghdad. We want to find a solution and reach an […]
By John Lee. Reuters reports that oil exports from Iraq’s southern terminals are on track for a record high in May. Exports are estimated at an average of 2.60 million bpd in the first 27 days of this month, which, if sustained, would beat April’s 2.51 million bpd, the highest since 2003. Southern exports are […]
By John Lee. Iraq's crude oil exports increased nearly 6 percent in April from the previous month. Shipments averaged 2.51 million bpd in April, bringing in revenues of $7.582 billion at an average price of $100.691 per barrel. March's 2.37 million bpd brought in $7,507 billion. (Source: Ministry of Oil)
By John Lee. Iraq has announced the award of two contracts totalling nearly a billion dollars to Britain's Petrofac and China's CPECC, Reuters reports. The deals, for services at the super-giant Rumaila field near Basra, were worth $535.8 million for Petrofac and $425 million for China Petroleum Engineering & Construction Corporation. Rumaila is a field of key strategic […]
