The latest news on Iraq Oil Production – oil companies, oil output and more – brought to you by Iraq Business News
By John Lee. BP has reportedly allocated $2.85 billion to develop the Rumaila oilfield in 2013, up from $2.2 billion last year, of which only $1.9 billion was used. Salah Mohammad, head of the joint management committee for the project, also told Reuters that output at Rumaila would rise to 1.450 million bpd by the […]
By John Lee. Lukoil Chief Executive Officer Vagit Alekperov (pictured) has said that the Russian company expects to produce around 150,000 bpd of oil from the West Qurna-2 field by January: "The program of developing the oilfield infrastructure is proceeding according to schedule and work is ongoing at all the sites ... From 1st January […]
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraqi Oil Ministry has said that the country's export capacity will reach 7 million barrels per day by 2015, while the parliamentary Energy Committee believes that the size of Iraq's […]
By John Lee. Platts reports that Iraqi oil production rose slightly in February to 2.963 million barrels per day (bpd), up by 43,000 bpd over January. Figures from the State Oil Marketing Organization (SOMO) show that Iraq exported 2.536 million bpd last month, 177,000 bpd above January's tally of 2.359 million bpd, and only 78,000 […]
Thamir Ghadhban (pictured), the chairman of the prime minister's advisory commission on energy, has said that Iraq is revising its oil production targets. Speaking at the MEED Iraq Energy Conference in Dubai, he said Iraq that Iraq should average 2.9 million barrels per day this year, rising to 4.5 million bpd by the end of […]
Genel Energy has said it expects to export oil by pipeline from its fields in Iraqi Kurdistan by 2014. The company's CFO, Julian Metherell (pictured), said: "We can expect by 2014 to be accessing the export markets from our major assets, whether that is through Baghdad controlled infrastructure or through Kurdistan." Genel posted full year revenues […]
Russia’s LUKoil has said it has cut its oil production plan in Iraq by almost a third, in line with the local government’s plans to increase the lifetime of its oilfields, reports Al Arabiya. Andrei Kuzyayev, head of LUKoil Overseas, told Russian state TV channel Rossiya-24 that LUKoil is now looking for peak production at […]
BP is said to be close to reaching a deal with Iraq to cut the final production target for the Rumaila oilfield to between 1.8 million and 2.2 million barrels per day (bpd). According to Reuters, officials from BP, the state-run South Oil Company (SOC), and the Ministry of Oil, have been in talks for […]
By John Lee. Aswat al-Iraq reports that crude oil production at the al-Ahdab oil field has reached 140,000 barrels per day. According to an official statement from Wassit province, the field has 170 operational wells. The field, in central Iraq, is being developed by Chinese firm CNPC. (Source: Aswat al-Iraq)
Iraqi Deputy Prime Minister for Energy Hussain Shahristani speaks to Reuters about crude production in the country and the global oil market outlook. (Source: Reuters)
By John Lee. DNO International ASA, the Norwegian oil and gas company, today announced that gross production across its oil and gas portfolio has exceeded 100,000 barrels of oil equivalent (boe) per day for the first time, split two-thirds from the Kurdistan region of Iraq and the balance from Oman and Yemen. On a Company […]
By John Lee. Oil Minister Abdul Kareem Luaiby [Luaibi, Elaibi] (pictured) has told the Abu Dhabi International Petroleum Exhibition and Conference that Iraq could spend up to $150 billion on projects to expand its crude production capacity. The Wall Street Journal quotes the Minister as saying: "Iraq can reach 9 million barrels per day in […]
