The latest news on Iraq Oil Production – oil companies, oil output and more – brought to you by Iraq Business News
The KRG Ministry of Natural Resources announces the publication of the Kurdistan Oil Production Report. The report is compiled from data provided by the oil producing companies operating in the Kurdistan Region, and details overall oil production, export, refining, and local trading in KRG-operated fields from January 2015 to September 2016. It also breaks down […]
By John Lee. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has directed the South Oil Company (SOC) to invite international companies to execute the sea water desalination project in southern Iraq. The Common Seawater Supply Facility (CSSF) is considered vital to maintain the production volumes at Iraq's oil fields. It is to be implemented in […]
The Iraqi Minister for Oil has committed to support the efforts of the Organization of the Petroleum Exporting Countries (OPEC) aimed at stabilization of the oil market. At a meeting in Baghdad on Wednesday, Minister Jabar Ali al-Luaibi [Allibi] told OPEC Secretary General, HE Mohammad Sanusi Barkindo: “Your visit comes at a time when Iraq […]
By John Lee. Reuters reports that oil prices came under pressure on Monday as Iraqi oil minister Jabar Ali al-Luaibi [Allibi] said Baghdad wants to be exempt from any production cut the Organization of the Petroleum Exporting Countries (OPEC) is aiming to achieve. Falah al-Amiri, head of the State Oil Marketing Organization (SOMO) added that […]
By John Lee. Kuwait Energy has announced the commencement of production from the Faihaa-2 well in the Block 9 concession. in Basra Governorate. The Faihaa 2 well was spudded on 3 January 2016, with production testing commencing on 23 September 2016 at 52/64 inch choke size at an initial rate of 9,583 barrels of oil […]
By John Lee. Norwegian oil and gas operator DNO has announced the completion of three new production wells at the Tawke field in the Kurdistan region of Iraq, as part of a stepped up drilling program kicked off in July 2016. The Tawke-31 well, targeting the main Cretaceous reservoir will be brought on production following […]
By John Lee. Iraq's Ministry of Oil has announced that it has agreed to limit its oil production target to 4.75 - 5 million barrels per day. The country is currently producing around 4.6 million bpd. Oil Minister Jabar Ali al-Luaibi (Allibi) is going to participate in the OPEC meetings at the end of November, […]
By John Lee. Major oil companies including BP, Shell and Lukoil are reported to be cutting investment in Iraq. “You’re going through difficult months,” said Ariel Flores, general manager of the BP-led Rumaila Operating Organization (ROO) told the Wall Street Journal. “You slow down and you make decisions to pause efforts.” Rumaila oil field now […]
By John Lee. Oil Minister Jabar Ali al-Luaibi (Allibi) said on Thursday that while Iraq will support a production ceiling next week at an informal meeting of oil producers in Algeria, it aims to defend its share of output of between 4.75 million and 5 million barrels of oil per day. Producers are expected to […]
By John Lee. Iraq's oil production in August has been revised down from 4.638 million bpd to 4.622 million bpd, according to a report from Platts. The latest estimate is still a 16,000 bpd increase from July, and is the fourth time Iraq has passed the 4.5 million bpd threshold. The State Oil Marketing Organization […]
By John Lee. Iraq has reportedly put out fires at six more oil wells in the Qayara region, which Iraqi forces recaptured from the Islamic State group (Daesh, IS, ISIS, ISIL) last month. But Reuters quotes the Iraqi oil ministry as saying on Tuesday that at least three fires are still blazing. The wells had […]
By Simon Kent. Gazprom Neft, the Russian oil and gas giant, has announced increased production at the Badra field, reaching an aggregate production of 3 million tons in less than two years, according to Sputnik news. Badra has estimated reserves of over 3 billion barrels, and this year Gazprom added another 3 wells, totaling an additional […]
