The latest news on Iraq Oil Production – oil companies, oil output and more – brought to you by Iraq Business News
Oil production in Missan [Maysan] will reach 170,000 barrels per day by the end of 2011, compared to 2010’s production of 100,000 bpd, according to a director of the Missan Oil Company on Sunday. “The 70,000 barrels increase will come from the development of the Halfaya oil field and the drilling of new wells,” Ali […]
By Stan Harbison, Vice President of Research and Analysis at energy consultants EPRINC. In the past week, the ministry announced that two fields won at Iraq’s 2009 oil auctions had achieved their first significant benchmark. Production at Rumaila and Zubair each met the 10% production increase which allows them to begin to earn their per […]
Iraq's oil production could rise to 4.4 million barrels per day (bpd) by 2015, according to a report by Bank of America Merrill Lynch on Friday. Reuters reports that the revision from 3.8 million bpd forecast a year earlier had been prompted by "higher reserve estimates" released by the government, the bank's commodities research team […]
The Rumaila Operating Organisation (ROO) has met a major milestone in the re-development of the super-giant field in Southern Iraq by increasing production by more than 10 per cent above the 1.066 million barrels a day (b/d) initial production rate agreed in December 2009. Meeting this production target, and the approval of the Rumaila rehabilitation […]
The director of Missan Oil Company in Southern Iraq said on Tuesday that his company had achieved an increase in its oil production by more than 3 million barrels in 2010. “Our Company has achieved an increase in its oil production from its oil fields of 3.215 million barrels of oil in 2010, compared with […]
Iraq's oil minister, Abdul-Karim Elaibi [Luaibi], says the country's daily crude production has exceeded 2.6 million barrels a day. The minister says oil production will reach its planned targets "sooner than expected." Elaibi did not set a date for reaching these new levels in comments to reporters on Monday, although some reports put the target […]
Iraq's new oil minister, Abdul Kareem Luaibi, put building infrastructure at the top of his priority list and said yesterday he expected the expansion of Basra's crude export facilities to be finished by the end of 2011, according to a report from Gulf Daily News. Luaibi, who was sworn into office with Iraq's new government […]
Iraq's daily oil production rose to 2.5 million barrels, the biggest since 2003, a spokesman for the oil ministry said on Wednesday. “The daily oil production rose by 10% through cooperation among national and foreign companies,” Essam Jehad told Aswat al-Iraq news agency, pointing out that this is the highest production since 2003. Iraq’s newly […]
The following update on output at Iraq's oilfields comes from Early Warning, citing a report from UPI: Rumaila: Iraq's biggest field with the equivalent of 17.8 billion barrels of oil. That makes it the fourth largest oil field in the world. It contains around 15 percent of Iraq's oil. It is operated by BP and […]
Iraq's South Oil Company, working with the IOCs, has set quarterly production targets for the country's southern oilfields for 2011, according to documents obtained by Reuters. Production is targeted reach an average of nearly 2.3m bpd by Q4 2011. Oilfields Q1 Q2 Q3 Q4 Rumaila 1,175,000 1,201,000 1,226,000 1,250,000 West Qurna 1 260,000 270,000 285,000 […]
Iraq, the only OPEC member not subject to quotas, experienced the largest rise in the month, with 121,300 barrels a day.
It says any improvements seen so far in world oil demand have been "overwhelmed" by increased supply and persistent worries about the stability of the world's economic recovery.
