The latest news on Iraq Oil Production – oil companies, oil output and more – brought to you by Iraq Business News
Reuters reports that ExxonMobil is expected to raise production at Iraq's West Qurna I oilfield by 10 percent over the agreed baseline this month or in early April. When asked when Exxon would hit its initial production target in West Qurna, Abdul-Mahdy al-Ameedi, head of the Oil Ministry's licensing and contracting office, told Reuters,"God willing, […]
Reuters reports that Iraq exported an average of 2.202 million barrels per day in February, up from 2.16 million bpd in January, and the highest level since the 2003 U.S.-led invasion. Falah Alamri, head of the State Oil Marketing Organisation (SOMO), said exports from the northern fields, which included crude from the country's Kurdish region, […]
By Stan Harbison, Vice President of Research and Analysis at energy consultants EPRINC. A year ago, Iraqi oil officials were no doubt justifiably proud of their achievement in 2009. Against all skepticism they had in hand contractual agreements with foreign oil companies to rapidly develop over 60 billion barrels of oil reserves. It was an […]
Iraqi oil output will double in the next decade, not quadruple as in initial government targets, but the country could still test Saudi Arabia's influence in OPEC, oil major Shell said on Monday. In its energy scenarios to 2050, published for the first time since 2008, Shell said Iraq was a key uncertainty in the […]
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 […]
