The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
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 […]
By John Lee. Reuters reports on Friday that exports of Iraqi crude oil through the Kirkuk-Ceyhan pipeline have still not resumed following a bomb attack on Monday. A spokesman for the Iraqi oil ministry had said repairs to the pipeline would be completed by Thursday afternoon. On Friday, six tankers were said to be waiting […]
By John Lee. Iraq has agreed in principle to offer a three-month, interest-free credit term to Egypt on its deal to sell 4 million barrels of crude a month. According to the report from Dow Jones Newswires, the move could ease the fuel shortage that has recently hit the Egyptian economy. Baghdad is to supply […]
By John Lee. Genel Energy has said it has made significant progress on getting a pipeline to reach the Turkish border. Conversion of a pipeline in the Kurdish region from natural gas to oil could be finished as early as the fourth quarter of this year, reports UPI. The company said it expects exports to […]
By John Lee. Commenting in Oilprice.com on the newly-announced, $18-billion pipeline from Iraq to Jordan, John C.K. Daly says that while it is easy to understand the appeal of such a project in energy-starved Jordan, the geopolitical issues remain significant and seemingly unresolved. The 1,043 mile-long dual pipeline would be capable of transporting one million barrels of […]
The Iraqi embassy in Cairo says there are "no further plans" regarding an oil pipeline from Iraq to Egypt, but confirmed that Iraq's State Company for Oil Projects (SCOP) signed an agreement for the export of oil to Egypt. "There is currently an agreement between us, but we haven’t yet received any official communications from […]
The KRG's Natural Resources Minister, Ashti Hawrami (pictured), has said that the Kurdish region could export 250,000 barrels of oil a day this year and is "on track" to ship 1 million bpd by 2015 and 2 million by 2019. "We need to get oil from the Kurdistan region -- and more widely from northern […]
By John Lee. The first cargo of Iraqi Kurdistan's crude oil has been sold on the international market, industry sources report. World Bulletin says that the crude, pumped from Genel Energy's Taq Taq oilfield (pictured), was exported by truck to Turkey and sold via tender for loading in April. One trader said the cargo sold […]
