The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
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 […]
According to a report from Bloomberg, Iraq plans to increase its exports of Kirkuk crude from the Turkish port of Ceyhan (pictured) by 20 percent in April: 24 cargoes to be shipped, up from 21 in March; shipping rate of 510,000 barrels a day, up from 425,484 bpd in March. Shipments of Iraqi Kirkuk crude from […]
Iraq's oil ministry says oil exports in February have declined by nearly 4.5 percent compared to the previous month, as a result of bad weather and sabotage of pipelines. "Iraq exported 58.4 million barrels of crude in February, down from 65.3 million barrels a month earlier and the lowest such figure since November 2010, figures […]
The Kipp Report, citing sources at Iraq's state-owned South Oil Company, reports that Iraq's new offshore oil export terminal had resumed operations at 7.30 p.m. (1630 GMT) on Thursday, and was loading at a rate of 576,000 bpd. Iraq’s Oil Minister Abdul Kareem Luaibi had said earlier on Thursday that bad weather rather than technical […]
Iraq said on Thursday that weather, rather than a technical fault, was behind an interruption in the operation of the new single point mooring (SPM) terminal on the Persian Gulf. The new facility loaded 2 million barrels of oil into its first ship, the Maersk Hirado, between 8th March and 13th March, but has not […]
Oil exports from Iraq's southern ports have jumped by 150,000 bpd this month, according to shipping data tracked by Reuters. Exports from the al-Basra Oil Terminal (ABOT), Khor al-Amaya, and the new single-point mooring on the Gulf have averaged 1.81 million bpd in the first 19 days of March, up from about 1.66 million bpd […]
Iraq has offered "substantial quantities" of crude oil to Sri Lanka, as the island looks for alternatives to Iranian crude, according to AFP. Iran supplies nearly 92 percent of Sri Lanka's imported crude, but will stop crude oil imports from Iran from 29th March, ahead of the US deadline of 28th June. (Source: AFP)
Technical glitches have halted exports from Iraq's new offshore oil export terminal for the past week after it loaded just a single tanker, two sources at the state-owned South Oil Company said on Tuesday, according to Reuters. The first of four single-point mooring (SPM) terminals, which are being built by Australia's Leighton Holdings, opened on […]
In an attempt to deal with any potential crisis should Iran close the Strait of Hormuz, Iraq has approved a plan to expand its oil export routes by adding capacity from its northern fields and building a pipeline to ship oil from southern oilfields to the Turkish port of Ceyhan (pictured), according to Reuters. "Short […]
