The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
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 […]
By John Lee. Reuters reports that Iraq is still undecided about whether to carry out full maintenance on its Basra oil export terminals in September. According to the report this has created even more uncertainty for an oil market already worried about disruption in Libya and Egyptian unrest. Despite a report in July to the […]
By John Lee. Reuters reports that a bomb attack stopped oil flows through the pipeline from Kirkuk to the Turkish port of Ceyhan (pictured) early on Tuesday. Iraqi oil officials said the stoppage started at around 0230 GMT (10:30 p.m. Tuesday EDT). The pipeline has been repeatedly attacked by militants and has also suffered technical […]
Iraq's oil exports are stagnating compared with numbers from this time last year, and are set to fall sharply next month. This plateau in exports comes as major work is carried out in the vital southern export terminals, Reuters sources explained. Infrastructure and security problems are at the heart of Iraq's struggle to keep pace […]
Amidst all the news of increased violence in Iraq, this week has seen many positive news stories, including a $700-million contract win for Daewoo at the Akkas gas field, and the shares of two oil explorers rebounding strongly. But staying on energy matters, we cannot escape the continuing problem of reduced oil exports. Sabotage of […]
By John Lee. Reuters reports that Iraqi crude oil exports are to be cut by between 400,000 and 500,000 barrels per day in September. The drop is due to rehabilitation and maintenance work at Gulf ports. A third offshore terminal and a metering station are being installed to boost export capacity by 900,000 bpd, according […]
By John Lee. The Iraqi Oil Ministry has said that exports of crude oil fell in June for the second consecutive month, due to bad weather at the ports and attacks on northern pipelines. Shipments dropped to 69.8 million barrels for the month, or 2.33 million barrels a day (bpd), bringing in a total of $6.8 […]
By John Lee. Iraq will ship 43 cargoes of Basra Light crude in July, one less than in June, according to a loading program obtained by Bloomberg. An estimated 67.6 million barrels of the blend will be exported from the Basra Oil Terminal (ABOT), or 2.18 million barrels a day. That compares with 2.39 million […]
By Matthew Gayle. According to shipping data tracked by Reuters and industry sources, oil exports from Iraq have fallen by about 200,000 barrels per day (bpd) in June due to bad weather disrupting loadings. Exports from Iraq’s southern shipping outlet, have averaged close to 2 million bpd in the first three weeks of June, which […]
By John Lee. Ashti Hawrami (pictured), the Natural Resources Minister of the Kurdistan Regional Government, said on Wednesday that Iraqi Kurdistan will start exporting crude oil by pipeline "very soon" after the completion of a new link to the Turkish border by the end of September. Bloomberg quotes the minister as saying that the pipeline to […]
By John Lee. India's external affairs minister, Salman Khurshid, starts a two-day visit to Iraq on Wednesday, during which he will hold talks with top Iraqi leadership on issues including the supply of oil. Khurshid, the first senior Indian leader to visit Iraq since 1990, is expected to call on Prime Minister Nouri Al-Maliki, and […]
