The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
By Andrew Scarre. Iraq’s oil exports have increased in October to 2.25 million barrels per day, an increase of 0.18 million barrels per day in comparison to September’s figures. Over the course of October, Iraq exported 69.8 million barrels of oil over the course of October, creating US$7.160 of revenue. The ministry confirmed that the […]
By John Lee. Reuters reports that Baghdad and Erbil appear to have found a formula that will allow Iraqi Kurdistan to export oil to Turkey through a new pipeline. Following a meeting in Baghdad on Sunday with Iraq's Deputy Prime Minister for Energy, Hussain al-Shahristani, Turkey's Energy Minister, Taner Yildiz, said on Tuesday that an […]
By John Lee. The head of refineries at Hindustan Petroleum (HPCL) has told Reuters that Iraq is willing to double the credit period on crude sales to 60 days if Indian refiners buy more in 2014. B.K. Namdeo added: "Iraq is very positive. They are willing to raise credit period to 60 days and waive […]
By John Lee. Oil ministry spokesman Assem Jihad said on Sunday that Iraq's oil exports hit a 19-month low in September, attributing the decline to maintenance and improvement projects at the country's ports. Iraq exported 62.1 million barrels of oil in September, or about 2.07 million barrels per day (bpd), the lowest daily average since […]
By John Lee. Iraq's Deputy Premier for Energy Affairs, Hussein al-Shahristani, has said that China is to buy 850.000 barrels per day of Iraqi oil in 2014. Aswat Al Iraq reports that China will buy 586.000 bpd of Iraqi oil this year, an increase on the 525.000 bpd achieved in 2012. (Source: Aswat Al Iraq)
By John Lee. China is attempting to increase purchases of its crude by more than two-thirds next year, according to a report from Reuters. "Iraq is in a lucky position because we always get more requests than we can actually supply," deputy prime minister for energy Hussain Al-Shahristani said on Wednesday at the World Energy […]
By John Lee. According to a report from Reuters, exports from Iraq's southern terminals have averaged 1.67 million bpd in the first 16 days of October, down from September's rate of 1.82 million bpd and the 2.31 million bpd achieved in August. But due to the reopening of all four of the crude loading berths […]
By John Lee. Iraq has reopened all four of the crude loading berths at the al-Basra Oil Terminal (ABOT), according to a report from Platts. Two of the terminal's four jetties were shut in September to allow the installation of a jacket for a new platform in the Gulf to feed four Single Point Moorings. […]
By John Lee. Reuters reports that Iraq's southern oil exports averaged 1.821 million barrels per day (bpd) in September. This is down from from the 2.308 million bpd in August as a result of maintenance work at that al-Basra Oil Terminal (ABOT) (pictured). The work has closed two of the port's four berths, and the […]
By John Lee. Oil officials confirmed on Monday that a leaking pipeline in the south of the country had been repaired, but planned work at the al-Basra Oil Terminal (ABOT) was continuing to restrict exports. The leaking pipeline had caused a drop in output from the Rumaila oilfield. Reuters reports that Iraq had restored normal […]
By John Lee. A pipeline leak has restricted oil flow to Iraq's southern export terminals, according to Reuters. A rate of 1.58 million barrels per day was being achieved on Tuesday, compared to an export rate of 2.3 million bpd in August. Output from Rumaila has been cut due to the leak, while two berths […]
Bloomberg reports that Iraq plans to reduce its exports of Basra Light crude from the Persian Gulf in September to the lowest in at least 20 months. Iraq will ship about 52.86 million barrels, or 1.76 million barrels per day (bpd), from al-Basra Oil Terminal (ABOT) (pictured), according to a loading program obtained by the […]
