By John Lee. Iraq's Deputy Minister of Oil for Refining, Hamid Younis (pictured), has announced the ministry's commitment to achieving self-sufficiency in all types of petroleum products to support the national economy. The country has already stopped importing gas oil (kerosene) and white oil, and has significantly reduced gasoline imports. Younis highlighted ongoing projects aimed […]
By John Lee. Iraq's Ministry of Oil has announced plans to increase production capacities of refineries, aiming to improve quality, adhere to environmental standards, and eventually move towards exporting oil derivatives. Currently, production in southern refineries is at 280,000 barrels per day, with the Karbala [Kerbala] refinery contributing 140,000 barrels, according to a report from […]
By John Lee. Iraq's Minister of Oil has opened two plants for improving gasoline and hydrogen production at the Al-Dora refinery in Baghdad. The new gasoline line will increase capacity from 3 million liters per day to 4 million liters per day, and is part of a program to reduce fuel imports by 50 percent […]
From Middle East Monitor, under a Creative Commons licence. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraq reduces energy imports from Iran by 75% Iraq has reduced its electricity and gas imports from Iran by 75 per cent after achieving a strong […]
By John Lee. Iraq and Oman have signed a memorandum of understanding (MoU) on cooperation in the oil and gas sector. Both sides will investigate the construction of oil storage facilities in both countries, the export crude oil to Oman, and the import of oil products back into Iraq. They will also consider building a […]
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iran questions Iraq's promise to import oil despite sanctions Iran and Iraq have quite different views of their relationship status, with Tehran claiming it's been jilted and Baghdad declaring it's […]
By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has said that Iraq will reduce imports of petroleum products by 25 percent, as the country restarts production at refineries that were damaged by the Islamic State group (IS, Daesh, ISIS, ISIL). He said that restarting production at the Seeniya, Hadeetha, Qayara and Kirkuk refineries […]
By John Lee. A plan to export Iraqi crude oil by truck to Iran has reportedly been postponed due to security concerns. Under the oil-swap agreement, Iraq was to export 60,000 bpd of crude oil by truck from Kirkuk to Iran’s Kermanshah refinery (pictured), and ship back refined Iranian oil for southern Iraq. Hamid Hosseini, […]
By John Lee. Sources have told Reuters that China's state-run Zhenhua Oil will supply diesel (500 parts per million (ppm) sulphur) to Iraq's State Oil Marketing Organization (SOMO) through a term contract for the first time. It will supply 600,000 tonnes of the 2.37 million tonnes sought by SOMO in a tender for delivery in […]
By Simon Kent. Iraqi PM Haider al Abadi recently met with Chinese President Xi Jinping to discuss high level strategic projects for both countries to cooperate on. The major discussions focused on a plan for Iraq's State Oil Marketing Company (SOMO) and Chinese state run refiner Sinopec to coordinate the shipment, refining and marketing of […]
By Simon Kent. Iraqi crude exports to the US surged to 521,000 bpd for October, according to the US Energy Information Administration (EIA.) The increase in exports of Iraqi crude to the US marks a historic shift, since US imports of Iraqi crude actually decreased after 2003 despite the gradual increase in Iraqi production, with […]
