The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
A bomb attack in the northern province of Nineveh halted oil flow through the Iraq-Turkey pipeline, which carries a quarter of Iraq's crude exports, a spokesman for Iraq's oil ministry said on Wednesday. Reuters, quoting Oil Ministry spokesman Asim Jihad, reported that the attack occurred on Tuesday night, but oil flow is expected to resume […]
Reuters reports that Iraq exported an average of 2.202 million barrels per day in February, up from 2.16 million bpd in January, and the highest level since the 2003 U.S.-led invasion. Falah Alamri, head of the State Oil Marketing Organisation (SOMO), said exports from the northern fields, which included crude from the country's Kurdish region, […]
Revenue from Iraqi crude oil exports rose to $6.08 billion in January, the most in more than a year, the country’s State Oil Marketing Organization (SOMO) has reported. The average price for Iraqi oil was $90.78 a barrel, compared with $86.31 in December and $80.59 in November. Exports increased last month by about 10 percent […]
Asim Jihad, a spokesman for the Iraqi Oil Ministry, said the Iraqi government has demanded Jordan pay back a credit of $114m for purchasing Iraqi crude oil during 2003-6, adding Jordan has demanded to increase Iraqi crude oil import to 30,000 barrels per day (bpd). According to the report from AKnews, during the period from […]
According to a report from Reuters, Iraqi Prime Minister Nouri al-Maliki was misquoted as saying the central government in Baghdad would honour Kurdish production sharing oil contracts, The agency quotes Deputy Prime Minister with responsibility for Energy, Hussain al-Shahristani, as saying: "All the contracts we (the central government) have signed were service contracts and we […]
Iraq's Prime Minister, Nouri al-Maliki, has said in an interview with news agency AFP that Iraq will honour production-sharing contracts that the Kurdish regional authorities have signed with foreign companies. Shares in Norway's DNO, which has production in the region, rose 7% on the news. The report was not confirmed by the Oil Ministry and […]
DNO can confirm that export production tests at the Tawke oil field in the Kurdistan Region of Iraq commenced on 2 February. At present, the tested volumes are around 10,000 bopd. The technical tests are being conducted in close coordination with the Kurdistan Regional Government and the Northern Oil Company to ensure a responsible and […]
Iraq exported an average of 2.163 million barrels of oil per day in January, up from 1.951 million bpd in December, its highest level since the 2003 U.S.-led invasion, a top oil official said on Wednesday. Falah Alamri, head of the State Oil Marketing Organisation (SOMO), told Reuters on the sidelines of an energy conference […]
By Thomas W. Donovan, Managing Partner at Iraq Law Alliance, PLLC. Introduction On December 20 2010 a new unity government was announced, whereby former Prime Minister Nouri Al Maliki maintained his position and Iyad Allawi, who won the most seats in the March 2010 election, joined in a special power-sharing deal. Unsurprisingly, the upstream petroleum […]
Iraqi Kurdistan has not yet started exporting crude oil, despite a reported agreement that exports would resume from 1st February, Iraqi oil ministry sources said on Tuesday. Two top oil ministry officials, speaking on condition of anonymity, told Platts that there had been no additional oil supplied from two producing fields in the Kurdish region […]
Norwegian oil company DNO has issued a statement clarifying its position on exports from Kurdistan: In a Stock Exchange Notice released on 24 January 2011 DNO made reference to a press released published by the KRG on 22 January 2011, where amongst other things it was reported that the central government in Baghdad and the […]
Iraq exported slightly less crude in 2010 compared to the previous year, but still earned 26.3 percent more due to an increase in global oil prices, reports AFP, quoting an official statement on Wednesday. The country exported $52.2 billion (38.1 billion euros) worth of oil last year, compared to $41.3 billion in 2009. Exports totalled […]
