The latest news on Iraq Oil Exports – crude oil, oil pipelines and more – brought to you by Iraq Business News
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 […]
Iraq’s oil exports from Iraq's southern ports have jumped by 300,000 barrels per day (bpd) so far in January, according to shipping data reported by Reuters. Exports from the al-Basra Oil Terminal (ABOT) (pictured) and Khor Al Amaya averaged 1.8 million bpd from January 1 to January 24, up from 1.5m bpd in December. The […]
Further to our report last week that oil exports from Iraqi Kurdistan will resume at the start of February, the Kurdistan Regional Government (KRG) has issued a statement confirming the agreement, and addressing the conflict with Baghdad over the budget. The full statement is shown below: Kurdistan Region Prime Minister Barham Salih (pictured) this week […]
The Iraqi oil ministry has agreed with its Kurdish counterpart to pay exploration costs and expenses to the foreign firms working in the Kurdistan Region of Iraq, according to a report from Reuters. Spokesman Asim Jihad told the agency that the State Oil Marketing Organisation (SOMO) will be responsible for payments to the companies, which […]
Reuters reports that Iraq's semi-autonomous Kurdish region of Iraq has agreed with Baghdad to resume oil exports from the start of February, the Kurdish prime minister Barham Salih (pictured) said, taking the two sides closer to resolving bitter disputes over oil and land. Around 40 companies, such as Norway's DNO, have invested in Kurdistan, but […]
Officials of the Kurdistan Regional Government pressed the central government today to recognise oil contracts that they have inked with transnational corporations, warning that they will not resume exports until it does, according to Morning Star. The Kurdistan Regional Government (KRG), which can reportedly export 150,000 barrels a day, has signed 37 contracts for oil […]
The Minister for Natural Resources in the Kurdistan Regional Government, Ashti Hawrami, told Reuters that he expected talks in Baghdad on the formation of a new government to lead to an imminent breakthrough on the issue of oil exports from Kurdistan. “I am confident that the leadership between Kurdistan and Baghdad will address these issues […]
Bloomberg reports that Iraq plans to start work in the next three weeks on offshore oil facilities in the southern part of the country, where export capacity is due to more than double by mid-2012. Export capacity will rise to 4.5 million barrels a day by mid-2012 from the existing capacity of 1.8 million barrels […]
"A tanker truck that unloaded the oil it was carrying from Iraq in the special zone located in 'no-man's land' on the border between Iraq and Jordan caught fire due to an explosion, causing a fire that affected 19 other trucks," a Jordanian security official told AFP. Police report that two people were killed, between […]
