The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
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 […]
By John Lee. Bloomberg reports that Iraq will keep its daily exports of Basrah Light crude from the Persian Gulf roughly the same in the first half of August as in the second half of July, compared with shipments in the previous two weeks. Twenty cargoes are scheduled to be shipped from the al-Basrah Oil […]
By John Lee. Bloomberg reports that Iraq will reduce its daily exports of Basrah Light crude from the Persian Gulf by 3.8 percent in the second half of July, compared with shipments in the previous two weeks. Twenty-four cargoes are scheduled to be shipped from the al-Basrah Oil Terminal (pictured), up from 18 in the […]
By John Lee. Turkey has started importing the crude oil from the Kurdistan Region of Iraq, and will hold negotiations over direct sales to the natural gas. The Turkish Energy Minister said in a press conference on Friday that "Turkey has started importing five to ten trucks of crude oil per day from Kurdistan, and […]
By John Lee. Turkey's Energy Minister, Taner Yildiz, said the ministry has started technical work with Iraq's central government on shipping crude oil from Basra, in southern Iraq, via the Kirkuk-Ceyhan pipeline to Turkey's Mediterranean coast, according to Reuters. The announcement came days after the KRG said it might sell natural gas directly to Turkey […]
Iraq's oil revenues dropped by 17.6 percent from May to June due to plummeting prices in the international market and the diversion of some production to meet domestic needs. Oil Ministry spokesman Assem Jihad said Iraq earned $6.453 billion from 72,090 million barrels exported in June at an average price of $90 per barrel, compared […]
Bloomberg reports that Iraq will increase its daily exports of Basrah Light crude from the Persian Gulf by 14 percent in the first half of July, compared with shipments in the previous two weeks. Eighteen cargoes are scheduled to be shipped from the al-Basrah Oil Terminal (pictured), unchanged from the second half of this month, […]
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A leading Iraqi energy adviser says the country may need to invest in as many as 120 crude oil tanks, each with a capacity of half a million barrels. Speaking at CWC‘s Iraq Petroleum 2012 conference in London, Dr Mussab al Dujayli, a former Director General of Iraq's State Oil Marketing Organization (SOMO), said that […]
