The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
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 […]
The Kurdistan Regional Government (KRG) has said Baghdad must investigate a difference of about 35,000 bpd of crude oil exports from the region that is failing to appear in the national total, and demands payment of over $1 billion owed. The full text of the KRG statement follows: Oil exports from the Kurdistan Region in […]
Among the options being considered by Iraqi lawmakers to reduce dependence on the Strait of Hormuz, is the reopening an oil pipeline to Saudi Arabia that's been closed since the Gulf War in the 1990s. Currently, most of Iraq's oil exports are shipped by tanker from Basra through the Strait of Hormuz, but Iran has […]
Iraq will ship 18 cargoes of Basra Light grade from the Persian Gulf in the second half of March, according to a loading schedule obtained by Bloomberg News. The is four more than in the first half of this month. (Source: Bloomberg)
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Reuters, citing two sources at the state-owned South Oil Company, reports that Iraq began loading oil from a long-awaited new floating Single Point Mooring (SPM) platform in the Gulf on Thursday. "We started the loading at 2:45 pm (1145 GMT). The loading process is normal. The situation of pipes and the SPM is stable, and […]
Iraq's oil production has risen above 3 million barrels per day for the first time in more than three decades, according to Reuters. "While I am talking to you today, the Iraqi oil production has exceeded 3 million barrels per day," Deputy Prime Minister Hussain Al Shahristani told a conference in Baghdad on Tuesday. "Loading […]
Iraq’s oil exports dropped slightly in February compared to the previous month, the country's oil ministry said on Thursday. According to AKnews, Mutassam Akram, Undersecretary of the Iraqi Oil Ministry, said that February's oil exports averaged 2.106 barrels per day, down from 2.145 bpd in January. Gross revenues for February will be published at a […]
Iraq's crude oil exports to Jordan have dropped from 10,000 barrels per day to 6,000 bpd, reports Aknews. An agreement from 2008 specifies exports of 10,000 bpd, while an August 2011 agreement to increase to 15,000 bpd was described as not feasible "due to technical and administrative issues". Sixty percent of Iraq's oil exports go […]
Iraq is demonstrating its unique position in the Middle East again, flexing its new diplomatic muscle to resolve an oil exporting crisis between the West, OPEC and Iran, according to this article from NIQASH. But who’s behind these efforts: Iran, the US or Iraq itself? Any opinions expressed are those of the author, and do […]
