The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
By John Lee. Iraq and Jordan have agreed to build a pipeline to supply Jordan with crude oil and natural gas, according to Petra, the Jordan News Agency. Iraqi Oil Minister Abdul Karim Luaibi [Elaibi] said that the pipeline would carry crude oil to the Jordanian refinery in Zarqa for use in Jordan, and to […]
By John Lee. The Kurdistan Regional Government (KRG) has extended its deadline for the federal government to pay the money it says it is due in respect of oil exports to 15th September, after which time it will again halt exports of Kurdish crude. Baghdad, on the other hand, has threatened to trim Erbil's budget […]
By John Lee. Iraq’s oil exports rose to an average of 2.565 million bpd in August, up from 2.516 million bpd in July, the highest level in two decades (according to NINA), or highest in three decades (according to Reuters). Spokesman for the Ministry of Oil, Asem Jihad, said that Iraq's daily export of oil […]
By John Lee. Iraq's Kurdistan is to continue pumping oil for export until 15th September, extending its deadline for the central government to make disputed payments to companies working in the region. The KRG had halted exports for several months from the start of April over $1.5 billion it said was owed to foreign oil […]
By John Lee. The Kurdistan Regional Government has again warned Baghdad that it will stop exporting oil if the central government continues withholding payments to the oil companies operating in the region. The KRG has set 1st September as the start date for halting oil exports. An official has said Baghdad has not given any […]
By John Lee. An MP and member of the Parliamentary Oil and Energy Committee has hit out at Saudi Arabia for its "hostile policy" towards Iraq. Udai Awad, of the Ahrar bloc within the Sadrist Trend, told AIN: "The reason for the dispute with Saudi Arabia is the attempt by KSA [Kingdom of Saudi Arabia] […]
By John Lee. Bloomberg reports that Iraq will increase its exports of Basrah Light crude from the Persian Gulf by 6 percent in the second half of August, compared with the previous two-week period. According to the loading program, Iraq will ship 23 cargoes from the al-Basrah Oil Terminal (ABOT) (pictured), three more than in […]
By John Lee. A spokesman for Jordan's Energy Ministry says the Ministry will choose a company this month to transport 10,000 bpd of Iraqi crude oil b truck. Fayez Abu Gahud told Bloomberg: “The tenders committee is currently looking into financial bids submitted to the energy ministry and will announce the winning bidder as soon […]
Iraq’s oil revenues jumped by about $1 billion from June to July, according reports from AFP and Aswat al-Iraq. Oil Ministry spokesman Assem Jihad said Iraq earned $7.535 billion from 77.915 million barrels exported in July at an average price of $96.599 per barrel, compared to June’s revenues of $6.453 billion at $90.097 per barrel. […]
Just days after agreeing to re-start oil exports from the Kurdistan region, Ashti Hawrami (pictured), the KRG's Minister of Natural Resources, said the region would halt oil exports at the end of the month if Baghdad does not make all outstanding payments to companies working in the oil sector in the region by that time. […]
By John Lee. Reuters reports that the Kirkuk-Ceyhan pipeline was bombed on Sunday night, knocking out flows. Officials from the Turkish Energy Ministry said on Monday that repairs could take up to 10 days. The blast occurred in Mardin province, north of Turkey's border with Syria. The outlawed Kurdistan Workers Party (PKK) was behind the […]
By John Lee. Oil exports from the Kurdistan Region will resume in the first week of August, the Ministry of Natural Resources (MNR) has announced, adding that the decision was a confidence-building measure aimed at solving once and for all the ongoing oil and gas issues in Iraq. The MNR said that despite initial reluctance […]
