By John Lee. Iraq’s crude oil output rose above 3 million barrels a day last month for the first time since the 2003 U.S.-led invasion that toppled Saddam Hussein, according to the Organization of Petroleum Exporting Countries (OPEC). Iraq pumped 3.08 million barrels a day in July, 115,000 barrels more than the previous month, outpacing […]
By John Lee. Iraq’s crude oil production overtook Iran’s last month for the first time since 1988, when the countries ended their eight-year war, reports Bloomberg. Iraq pumped 2.984 million barrels a day in June, versus 2.963 million bpd for Iraq, OPEC said today in its Monthly Oil Market Report. Production from Iran fell ahead […]
Iraq's oil production targets may be revisited, as the country refines its plans to ramp up output. Thamir Ghadhban, Chairman of the Advisory Commission to Prime Minister Nouri al-Maliki, told CWC's Iraq Petroleum 2012 conference in London that production will hit 3.4 million barrels per day (bpd) at the end of 2012, 3.9 million bpd […]
Iraq has named Thamer Ghadhban as its candidate for the position of head of OPEC, and some analysts believe he could be an acceptable compromise candidate. Based on current differences, "I don’t believe it can be an Iranian or a Saudi," said Neil Atkinson, an energy analysis director at UK research firm Datamonitor, who notes […]
The output of OPEC in April hit its highest point since 2008 as extra crude from countries such as Libya, Saudi Arabia, and Iraq more than compensated from the loss of Iranian crude supply. Analysts found that the 12 member countries making up OPEC averaged 31.75 million barrels per day (mbpd). In April it was […]
Former oil ministers from OPEC nations Iraq, Algeria, Libya and Nigeria have established a group to offer advice on energy policy and business strategy. Issam Chalabi (pictured), Shokri Ghanem, Chakib Khelil and Rilwanu Lukman, former oil ministers of Iraq, Libya, Algeria and Nigeria respectively, set up the alliance following a meeting in Vienna in February. […]
Iraq is expected to challenge the Saudi contender for the post of Secretary General of Organisation of Petroleum Exporting Countries (OPEC), according to a report from Middle East Oil & Gas. An Iraqi official told the Gulf Times: “Iraq is working to nominate Thamer Ghadban for this position”. Ghadban is currently the top energy adviser […]
Bloomberg reports that Iraq will ask to rejoin OPEC’s quota system for crude output in 2014. The holder of the world’s fifth-largest oil reserves plans to increased production from an average of 2.9 million barrels a day to 3.4 million barrels a day next year, and 4.5 million barrels a day in 2013, said Falah […]
If Iranian President Mahmoud Ahmadinejad doesn't choose a minister for the ministry to replace the Iranian Ministries of Oil and Energy, then Iraq will chair the 159th meeting of the Organization of Petroleum Exporting Countries (OPEC) in the Austrian capital Vienna next June, an oil expert has said. Jawad Barjani, speaking to Iranian news agency, […]
World oil prices are at reasonable levels and OPEC does not intend to reconsider its production targets at its meeting in June, Iraq's Deputy Prime Minister for energy, Hussain al-Shahristani, said on Sunday. Reuters reports that Shahristani, speaking at the launch of a new power plant project in Iraq, said he had no concern about […]
OPEC, which accounts for 40 percent of global oil supplies, said it will take a few years before talks begin on how to include Iraq’s production quota within the group as the country needs time to raise output capacity, says a report from BusinessWeek. “Iraq will be accommodated, they will need time before they reach […]
Just a week after Iraq finally re-stated its oil reserves, jumping from fourth to third place ahead of Iran, the Iranians have decided to re-state their oil reserves. And by a strange coincidence, they have re-taken their place ahead of Iraq. The moves comes ahead of an OPEC meeting on Thursday; oil reserves and production […]
