The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
Prime Minister Nechirvan Barzani at a major energy conference in Erbil yesterday said that Kurdistan’s relations with Turkey in the energy sector have entered a new phase. He expressed his optimism that after his recent visit to Turkey, more political will and understanding will lead to stronger economic relations. In his speech at the energy […]
Bloomberg reports that Iraq will increase its exports of Basrah Light crude from the Persian Gulf by 20 percent in the second half of May, compared to a month earlier. According to the loading program, Iraq will ship 26 cargoes from the al-Basrah Oil Terminal (ABOT) (pictured), seven more than a month earlier. Exports will […]
The output of OPEC in April hit its highest point since 2008 as extra crude from countries such as Libya, Saudi Arabia, and Iraq more than compensated from the loss of Iranian crude supply. Analysts found that the 12 member countries making up OPEC averaged 31.75 million barrels per day (mbpd). In April it was […]
Iraq's crude oil exports averaged 2.508 million bpd in April, the highest level in decades, the head of the State Oil Marketing Organization (SOMO) has announced. The figure was up 8.3 percent on March's 2.317 million bpd, Falah al-Amri told Bloomberg. Oil sales in April generated $8.8 billion in revenue from a total of 75.25 […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
Reuters reports that Iraq has exported its first cargo of crude oil from its second new Single Point Mooring (SPM) floating terminal in the Gulf on Tuesday. The tanker named "A Whale" (pictured) left the terminal with a cargo of of two million barrels of crude oil destined for India's state-run Indian Oil Corporation. The […]
Reuters reports that Iraq's oil exports from its southern ports have jumped by 190,000 barrels per day (bpd) in April, indicating that shipments are heading for another post-war record. Exports from the al-Basra oil terminal (ABOT), Khor al-Amaya, and the new single-point mooring (SPM) on the Gulf have averaged a combined 2.11 million bpd in […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
Iraq's crude oil exports rose to 2.317 million bpd in March, up from 2.014 million bpd in February, thanks largely to he new offshore single-point mooring terminal, the State Oil Marketing Organization (SOMO) said on Sunday. According to Reuters, this was the highest level of exports since 2003, while Bloomberg quotes Oil Ministry spokesman Asim […]
The ongoing dispute between Iraq's central government in Baghdad and the Kurdistan Regional Government (KRG) reached new heights on Monday as Iraq's Deputy Prime Minister for Energy, Hussain al-Shahristani (pictured), accused the northern region of smuggling rather than meeting its export obligations. According to Reuters, Shahristani told reporters: "Most of the crude produced in the […]
Following Sunday's statement from the Kurdistan Regional Government stopping oil exports from the region, Norway's DNO International has issued the following statement: As of 1 April 2012, the Ministry of Natural Resources of the Kurdistan Regional Government (KRG) has instructed DNO International ASA to halt delivery of that portion of crude oil produced from the […]
The export of oil from the Kurdistan Region of Iraq has been stopped from today because the federal government in Baghdad has not honoured its payment commitments, Kurdistan's Ministry of Natural Resources (MNR) said on Sunday. “After consultation with the producing companies, the Ministry has reluctantly decided to halt exports until further notice. There have […]
