The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
Bloomberg reports that Iraq would lose the capacity to export 1.7 million barrels of crude a day if Iran blocks the Strait of Hormuz. “Iraq will have to depend on the northern route from where it can export 450,000 barrels a day through Turkey’s port of Ceyhan on the Mediterranean,” Oil Ministry spokesman Asim Jihad […]
Exports of crude oil from northern Iraq via the Turkish port of Ceyhan (pictured) have resumed on Monday after a three-day halt resulting from sabotage to the pipeline network in Turkey, according to Bloomberg. Ziad Ahmad al-Obaidi, an official from the North Oil Company said the initial rate was 400,000 barrels to 500,000 bpd. Iraqi […]
Iraq plans to ship 17 cargoes of Basrah Light crude oil from the Persian Gulf in the first half of February, according to a loading program obtained by Bloomberg. This would be two cargoes more than in the second half of January. A total of 28.06 million barrels, or 1.87 million barrels a day, will be […]
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The opening ceremony to inaugurate Iraq's first floating oil terminal was postponed until further notice, an Oil Ministry spokesman announced on Wednesday. Aswat al-Iraq reports that there were 'operational problems', while Bloomberg's contact gave no reason for the delay, the third since last month. The terminal, which has an export capacity of 900,000 bpd, was […]
Increased volumes and the higher price of crude oil pushed Iraq's income from oil sales up by nearly 60 percent in 2011 compared to the previous year, according to AFP. Oil ministry figures published on Monday showed that total exports of oil increased 15 percent to 790.5 million barrels of oil, or an average of […]
Iraq would be drastically affected should Iran block the Hormuz Strait. Most of the oil Iraq produces is exported via the Strait. The scenario is seeing Iraq, distinct because of its good relations with both the US and Iran, practice its new diplomacy again, according to this article from NIQASH. Any opinions expressed are those […]
The first of four new single-point mooring facilities will be ready to commence operations on Jan. 25, according to a report from Bloomberg. If correct, this would be a pull-forward of the schedule reported by Reuters on 4th Jan. Dhia Jaafar, director general of South Oil Company, said the project involves laying pipelines, building eight […]
Bloomberg reports that Iraq will increase its exports of Kirkuk crude for January from the Turkish Mediterranean port of Ceyhan (pictured) by 3.5 percent from last month. The loading program obtained by comprises 18 cargoes totaling 13.88 million barrels, or 447,742 barrels a day, compared with 432,677 barrels a day for December. The cargo sizes […]
Iraq plans to start shipping crude from the first of its three new offshore export terminals in the Gulf at the start of February, according to Reuters. The new single-point mooring (SPM), which will boost export capacity by 900,000 barrels per day, was due to start operation on 1st January, but testing of new pipelines has […]
Iraq's oil exports rose by 10,000 barrels per day in December, from 2.135 million bpd to 2.145 million bpd, according to a report from Platts. Citing data from the State Oil Marketing Organization (SOMO), the agency also says that the country's oil production fell by 13,000 bpd in December, to 2.652 million bpd from 2.665 […]
Iraq increased its oil exports 1.9 percent in December to an average of 2.175 million barrels a day, according to a report from Bloomberg. The country may export at an average 2.6 million barrels a day next year, Falah Al-Amri, director of the State Oil Marketing Organization (SOMO), said in an interview. Iraq exported 2.135 […]
