Genel Energy has announced that payments have been received from the Kurdistan Regional Government ('KRG') for its entitlement for oil sales during March 2021. Those payments are made up as follows: (all figures $ million) Payment Tawke 14.3 Taq Taq 2.1 Sarta 3.4 Total 19.8 As announced on 13 May, Genel and other KRI operators […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for April of 88,398,319 barrels, giving an average for the month of 2.947 million barrels per day (bpd), effectively the same as the 2.946 million bpd exported in March. The exports from the oilfields in central and southern Iraq amounted to approximately 85,534,916 […]
By John Lee. Iraqi President Barham Salih [Saleh] has claimed that an estimated $150 billion has been smuggled out of Iraq since 2003. In a televised address, he said that this was from a total of close to $1 trillion in oil revenues. He added: "As I introduce a draft law to parliament to recover […]
Breaking the Impasse: The Baghdad-Erbil Budget Divide On May 20, 2021, the Institute of Regional and International Studies (IRIS) at the American University of Iraq, Sulaimani (AUIS) hosted a public webinar with Ahmed Tabaqchali (Senior Fellow, IRIS), Megan Connelly (Non-Resident Fellow, IRIS), and Sarwar Abdullah (Lecturer, University of Sulaimani), moderated by IRIS Researcher Hamzeh al-Shadeedi. […]
By John Lee. Shares in oil companies operating in Iraqi Kurdistan have been hit by a change in payment terms imposed by the Kurdistan Regional Government (KRG). Genel Energy, Gulf Keystone Petroleum (GKP) and DNO this morning reported to the markets that they have received letters from the KRG proposing an amendment to payment terms […]
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for April of 88,398,319 barrels, giving an average for the month of 2.947 million barrels per day (bpd), effectively the same as the 2.946 million bpd exported in March. The exports from the oilfields in central and southern Iraq amounted to approximately 85,534,916 […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for March of 91,311,929 barrels, giving an average for the month of 2.946 million barrels per day (bpd), down slightly from the 2.960 million bpd exported in February. The exports from the oilfields in central and southern Iraq amounted to approximately 88,240,184 barrels, […]
DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 54.0 million net to the Company from the Kurdistan Regional Government (KRG), of which USD 35.2 million represents DNO's entitlement share of February 2021 crude oil deliveries to the export market from the Tawke license in Kurdistan. Of the balance, USD 4.6 million is […]
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for March of 91,311,929 barrels, giving an average for the month of 2.946 million barrels per day (bpd), down slightly from the 2.960 million bpd exported in February. These exports from the oilfields in central and southern Iraq amounted to approximately 88,240,184 barrels, […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for February of 82,877,757 barrels, giving an average for the month of 2.960 million barrels per day (bpd), up from the 2.868 million bpd exported in January. These exports from the oilfields in central and southern Iraq amounted to approximately 79,105,329 barrels, while […]
By John Lee. Iraq's Ministry of Oil has announced initial oil exports for February of 82,877,757 barrels, giving an average for the month of 2.960 million barrels per day (bpd), up from the 2.868 million bpd exported in January. These exports from the oilfields in central and southern Iraq amounted to approximately 79,105,329 barrels, while […]
By John Lee. Iraq has reportedly "put on hold" it oil contract with China's Zhenhua Oil. The multi-billion-dollar agreement would have seen Zhenhua pre-pay Iraq's State Oil Marketing Organization (SOMO) for a regular supply of crude oil. Oil prices have risen significantly since the deal was struck. More here. (Source: S&P Global)
