Lukoil: No directive to cut oil production in Iraq
There’s been no directive from the government in Baghdad to curb oil production for next year, the head of a Russian oil company said. Russian oil company Lukoil started production Continue Reading
Hacked emails reveal details of Exxon’s Kurdistan activity
Disappointing exploration results drove Exxon to relinquish half of its Kurdistan portfolio, according to private correspondence with Turkey’s energy leaders published by Wikileaks. ExxonMobil CEO Rex Tillerson (second from left) Continue Reading
BLOG: Low Oil Prices Strain Kurdistan Government’s Fight Against IS
The KRG’s fight against ISIS has been hampered by the low oil price environment. The low oil price environment has put a strain on the Kurdistan Regional Government’s (KRG) fight Continue Reading
Iraq boosts oil sales to China, U.S., India before OPEC supply cuts bite: sources
Iraq is selling more crude oil to its biggest customer, China’s Unipec, people familiar with the matter say, digging a deeper foothold in the global supply market just before production Continue Reading
After Agreeing To Cut, Is OPEC’s No.2 Going Rogue?
Just a week after it agreed to OPEC’s output-cut deal, Iraq is showing signs of going rogue, and instead of cutting crude exports—a logical byproduct of lowered production—it plans to Continue Reading
Record pipeline flows, but Kurdistan oil revenues dip
Saddled with debt to oil traders, Erbil remains unable to make payroll despite increased exports. Loading arms at the terminal for Iraqi crude exports at the Turkish port of Ceyhan. Continue Reading
Iraq is Raising, Not Cutting, Oil Exports, Shipping Document Shows
Iraq plans to increase crude-oil exports in January, government records show, immediately raising questions about its commitment to slashing production in line with OPEC’s landmark production agreement last month. Iraq’s Continue Reading
Maliki draws violent protests in Basra
Demonstrations roil southern provinces in response to the former PM’s visit, highlighting destabilizing rivalries within and among Shia political blocs. Police in riot gear try to keep order as protesters Continue Reading
Iraq to abide by OPEC cut, expects output growth in future
Iraq is committed to cutting its production to comply with a global pact to support prices, the country’s oil minister said, adding he was nevertheless confident OPEC’s No. 2 producer Continue Reading
Sinopec Said to Eye Takeover of Kurdistan’s Gulf Keystone
China Petroleum & Chemical Corp., the world’s biggest refiner, is weighing a takeover of beleaguered Kurdish oil producer Gulf Keystone Petroleum Ltd., people familiar with the matter said. The state-owned Continue Reading