Iraq Business News brings you information on oil prices in Iraq, with the latest developments and opportunities.
If Iraq didn't face enough challenges already, the slump in the price of crude oil is another unwelcome development for the new Abadi government to deal with. At a current price of $81.78, the benchmark West Texas Intermediate (WTI) crude is down nearly 25 percent from its June high, driven in part by a strong […]
By John Lee. Iraq has ruled out offering any special oil price to India because its laws don't allow it to do so, reports the Economic Times. "Our laws do not allow us to offer any special pricing to anyone. We can sell crude only at the existing market- determined prices," Iraqi Deputy Prime Minister […]
By John Lee. Reuters reports that Iraq has sweetened the terms for oil contract buyers and is becoming more competitive on pricing. Oil Minister Abdul Kareem Luaibi [Elaibi], who met customers in Vienna last month on the sidelines of the OPEC meeting, told the news agency: "We were keen that I personally meet all the […]
By John Lee. Iraq’s State Oil Marketing Organisation (SOMO) has this morning adjusted its official selling prices for its Basra Light and Kirkuk crude grades for January. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour […]
By John Lee. Iraq is to increase export oil exports to Jordan from 10,000 barrels per day to 15,000 bpd at a discounted price, Jordanian Energy Minister Alaa Batayneh said. Following repeated requests by the kingdom, the two countries have agreed that Iraq will sell the additional 5,000 barrels a day at a discount of […]
By John Lee. Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra Light and Kirkuk crude grades for September. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index […]
By John Lee. Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra Light and Kirkuk crude grades for August. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index […]
Iraq's Deputy Prime Minister with responsibility for Energy, Hussain Al-Shahristani, talks to CNBC about the oil price, the risk of Iran shutting the Strait of Hormuz, and the possibility of rehabilitating the pipeline from Iraq through Saudi Arabia. (Source: CNBC)
Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra Light and Kirkuk crude grades for June. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index (ASCI); Shipments to […]
Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra Light and Kirkuk crude grades for May. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index (ASCI); Shipments to […]
Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra Light and Kirkuk crude grades for January. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index (ASCI); Shipments to […]
Global oil prices below $90 a barrel would be “difficult” to accept, Iraq’s Deputy Prime Minister for energy, Hussain al-Shahristani, told Reuters on Wednesday. Brent crude oil dipped below $100 a barrel on Tuesday on growing concern about a Greek debt default and the health of the global economy, tumbling from a 2011 peak of $127 […]
