The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
By John Lee. Oil exports from Iraq to Jordan have been halted due to deteriorating security in Anbar province, according to a report from Reuters. A spokesman for the Ministry of Oil said: "Due to security developments in Anbar and because the transfer of oil to Jordan is done by truck, which needs safe passage […]
By John Lee. The Iraqi government has reportedly engaged the law firm Vinson and Elkins to target buyers of the crude oil which they say is being illegally exported from Iraqi Kurdistan. A anonymous Iraqi source told Reuters: “This is not a game. Anyone who buys this oil is doing something illegal ... We will target […]
By John Lee. Iraq and Iran, which together hold more oil reserves than Saudi Arabia, are planning to challenge Saudi Arabia's grip on OPEC and its status as the "swing producer" in the cartel, according to a report from The Telegraph. With Iraq poised to triple its capacity to 9 million bpd by 2020, the result […]
The Oil and Energy Committee of the Iraqi parliament has decided to approve a government request to increase the discount on oil exports to Jordan from $18 per barrel to $20 per barrel. Iraq also supplies Jordan with natural gas, liquefied petroleum gas and heavy fuel, but according to a report from Azzaman, the quantities […]
Oil exports from southern Iraq increased by almost 300,000 bpd in the first two weeks of this year, compared to the December average, according to a report from Reuters. Exports averaged 2.35 million bpd in the first 15 days of January, up from 2.08 million bpd in December. Although this is seen as a sign […]
Kurdish ministers have reportedly walked out of a cabinet session in protest at the country’s draft 2014 budget. Reuters reports that the draft budget requires the Kurds to export 400,000 bpd, well above the region’s current export capacity, and says Baghdad will deduct any shortfall from the 17 percent share of state revenues to which […]
The KRG Ministry of Natural Resources (MNR) gives public notice of the commencement of the sale of its first shipment of crude oil exported via Kurdistan Region’s new pipeline through Turkey to the Port of Ceyhan (pictured). MNR anticipates the sale of the first parcel of two million barrels of exported crude oil to occur […]
By John Lee. Turkish Energy Minister Taner Yildiz (pictured) said today that Kurdish oil has started flowing to the Turkish port of Ceyhan via the new pipeline, but it will not be shipped to world markets without agreement from Baghdad. According to Reuters, the Minister said he hopes a deal allowing exports to begin can […]
By John Lee. Canada's SNC-Lavalin has announced that it has been awarded a contract by the Iraq Ministry of Oil's State Company for Oil Projects (SCOP) to provide engineering services for the Iraq Export Pipeline Project. Working closely with SCOP, SNC-Lavalin will provide front-end engineering design (FEED); long-lead items tendering and evaluation; and engineering, procurement […]
By John Lee. Reuters reports that Iraq's oil exports have fallen so far in December, "capping what has been a disappointing year and highlighting challenges it faces in 2014 in achieving significant production growth". Exports from Iraq's southern terminals averaged 2.01 million barrels per day (bpd) so far in December, according to shipping data tracked […]
By John Lee. The Deputy Prime Minister for Energy, Hussain al-Shahristani (pictured), has said that Iraq is keen to see oil shipped via pipeline from the Iraqi Kurdistan, but any exports must be approved by Baghdad. Turkey and the KRG signed a multi-billion-dollar energy deal last month, but Reuters reports that the Iraqi central government is […]
By Ayser Jabbar for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq’s aspirations to increase its oil exports to close to 7 million barrels per day by 2017 drew criticism from the Iranian Ministry of Petroleum. Iranian Petroleum Minister Bijan Namdar Zangeneh regarded […]
