By Simon Kent. Iraq's southern oil exports remained close to their recent record of 3.37 million bpd, which was hit in November, Reuters reports. Possibly lessened by several days of maintenance work at the Single Point Moorings at the Basra terminals, the figures for December were slightly lower, at 3.27 million bpd. This closes a good year […]
By Simon Kent. There is growing speculation over a planned energy initiative between Iraq and China, with both Iraqi PM Haider al Abadi and oil minister Adel Abdul Mahdi travelling to China for "deep discussions" on the proposal. According to The Wall Street Journal, Unipec, the trading branch of Chinese state refiner Sinopec, will be working with […]
By Simon Kent. Iraq is planning a 26% rise in exports of Basra Light and Basra Heavy grades of oil, according to data seen by Bloomberg. The targets are 55 cargoes of Basra Light and 26 cargoes of Basra Heavy respectively. This would mean an increase from 90.5 million barrels exported in September, up to 114 […]
By Simon Kent. Lukoil, the Russian energy giant with one of the biggest investments in southern Iraq at the vast West Qurna 2 oil field, have issued a statement in support of Iraq's move to split crude grades into Basra Heavy and Basra Light. Previously, different grades arrived at Basra for blending, which not only […]
By John Lee. According to a 2009 revision of Iraq's Provincial Powers Act (also known as Law 21) the province of Basra is supposed to be receiving an extra $5 dollars of oil revenue per barrel produced in the province. If this was the case, the province could be receiving an income equivalent to that […]
