The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
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 […]
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 […]
