The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
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 […]
Bomb attacks in northern Iraq have damaged part of the pipeline leading to the Turkish port of Ceyhan (pictured), according to a report from Associated Press. Three bombs exploded next to the pipeline on Wednesday night in a deserted area south of Mosul, 360 kilometers (225 miles) northwest of Baghdad. AP's sources said that technical teams […]
Iraq’s oil exports to Turkey were halted again on Wednesday, this time by bomb attacks targeting the oil pipeline north of Baghdad. Reuters' sources say one attack took place at around 0100 local time near Hadhar in Nineveh Province, 80 km south of Mosul, with another section of the line also attacked near Fatha, between […]
By John Lee. Iraq generated 6.9 percent more revenue from crude sales in July, compared with the previous month, according to the Oil Ministry. Bloomberg reports that it earned $7.27 billion from the export of 2.32 million bpd of crude in July, versus $6.8 billion from 2.33 million bpd in June. 66.4 million barrels were […]
By John Lee. Iraq has ruled out offering any special oil price to India because its laws don't allow it to do so, reports the Economic Times. "Our laws do not allow us to offer any special pricing to anyone. We can sell crude only at the existing market- determined prices," Iraqi Deputy Prime Minister […]
