Royal Dutch Shell has sold its 20-percent stake in Iraq’s West Qurna-1 oil field to Japan’s Itochu Corporation, and Iraq has approved the transaction, a senior Iraqi oil official told Continue Reading
Despite a non-binding Parliament vote, the ministry indicated it will take a practical approach to continue working with the Iraqi Kurdish company enmeshed in northern Iraq’s oil sector. Acting Kirkuk Continue Reading
Iraqi oil ministry said a Maysan oil refinery contract should be executed within the next 30 days. File photo by Oskari Porkka/Shutterstock Jan. 8 (UPI) — The implementation of an Continue Reading
After Iraq’s federal forces recaptured the oil fields in Kirkuk in October, the Iraqi Parliament voted on Monday to ban Kurdish engineering company Kar Group from operating Kirkuk’s oil fields. Continue Reading
Iraq’s parliament voted on Monday to ban Kurdish engineering firm Kar Group from operating Kirkuk’s oilfields, following Iraq’s recapture of the Kurdish-held oil region in October. The Kurds have withdrawn Continue Reading
The non-binding directive against the Iraqi Kurdish oil firm KAR Group further weakens the prospect of renewed Baghdad-Erbil oil cooperation. Iraqi security forces at the Bai Hassan oil field on Continue Reading
Iraq will start exporting oil from the northern Kirkuk fields to Iran before the end of January, Iraqi Oil Minister Jabar al-Luaibi told reporters on Sunday in Baghdad. About 30,000 Continue Reading
It is both the best and worst of times for the current Iraqi oil market. Iraqi oil minister Jabbar al-Luaibi said this week that Iraqi oil fields in the south Continue Reading
U.S. companies are eager to strengthen bilateral cooperation with Iraq in all industry sectors, especially in oil and gas, the Iraqi Ministry of Oil said on Thursday after U.S. Ambassador Continue Reading
Kurdistan’s fourth-quarter exports plummeted after Baghdad’s takeover of Kirkuk-area fields, but independent oil sales have risen modestly due to recent production increases. Oil tanks at Turkey’s Mediterranean port of Ceyhan, Continue Reading
Iraqi oil exports from the Basra Gulf in December set yet another record, capitalizing on a steady uptick in crude prices and capping a breakout year in the oil sector Continue Reading
The Iraqi government is forming an executive committee to operate giant Majnoon oil field after the withdrawal of Royal Dutch Shell (OGJ Online, Oct. 30, 2017). Shell holds a 45% interest in the Continue Reading
With what has now become habitual optimism, the Iraqi oil minister, Jabar al Luaibi, said he expected the global oil market to rebalance by the end of the first quarter Continue Reading
Kurdistan’s Cabinet is enforcing new cuts to the salaries of its armed forces as part of the austerity measures to cope with the financial crisis that has recently deepened due Continue Reading
Iraq’s oil ministry said on Thursday it had started to take over operations of Majnoon oilfield from Royal Dutch Shell and planned to lift output in future. The ministry said Continue Reading
Tension in Kurdistan is again high as Kurdish protestors have been demanding for two days that the Kurdistan Regional Government (KRG) quit, in the latest fallout from the independence referendum Continue Reading
At least four people have been killed, dozens injured and numerous political party offices burned across Iraqi Kurdistan as protestors railed for a second day over a lack of public Continue Reading
The Iraqi government announced plans to use drones to monitor and protect its export and production pipelines in the first quarter of next year. Reuters reported on Monday that Oil Continue Reading
The Kurdistan Regional Government (KRG) is warning that federal Iraqi security forces are preparing to launch a new offensive, which could spark a battle for control of the Khurmala Dome Continue Reading
Iraq began to rebuild its largest oil refinery this week, jumpstarting an effort to reconstruct the country after a three-year war with the terroristic Islamic State, an announcement from the Continue Reading
North Refineries Co. (NRC), a subsidiary of Iraq’s Ministry of Oil, has commissioned a 13,000-b/d crude distillation unit (CDU) at its refinery in Kirkuk, lifting overall processing capacity at the site Continue Reading
Oil and gas services company Petrofac has secured almost $1 billion in new contracts from Basra Oil Company (BOC) and BP plc. Petrofac announced Wednesday that its Engineering & Production Continue Reading
A new armed group has appeared in northern Iraq, causing locals to fear that IS is regrouping and re-branding for guerrilla warfare. A mysterious armed group has emerged in remote Continue Reading
London-listed oil and gas services company Petrofac said Wednesday it secured a $160 million contract to help overhaul a southern Iraqi oil port. The company said it secured the contract Continue Reading
The oil swap deal that Iraq and Iran agreed to last week will run for one year and is subject to renegotiation, Iraq’s Oil Minister, Jabbar al Luaibi told media. Continue Reading
Iraqi Oil Minister Jabar al-Luaibi said on Sunday that a deal signed with Tehran to swap up to 60,000 barrels per day of crude produced from the northern Iraqi Kirkuk Continue Reading
Kurdish, Sunni and Basrawi MPs are the most vocal critics of the draft budget, claiming inadequate revenue sharing despite slightly increased overall spending. Iraq’s Cabinet has sent a 2018 draft Continue Reading
Though it’s too early to make any estimate on the reserve potential, British energy company Genel said it found more oil in the Kurdish region of Iraq. Genel has a Continue Reading
(Reuters) – Genel Energy Plc said on Monday that one of its wells, drilled to appraise the northern end of its Taq Taq oilfield in Kurdistan region of Iraq, encountered Continue Reading
The Iraqi Oil Ministry said exports from southern ports set a record, but more work was needed to make up for losses from issues in the north of the country. Continue Reading
Federal Iraq earned more monthly oil revenue in November than it has since October 2014, due to rising oil prices and a nearly 5 percent jump in exports. The new Continue Reading
The Oil Ministry is considering a pipeline to link Kirkuk oil fields with domestic refineries, and issuing a tender for rebuilding the export pipeline to Turkey. Iraqi Oil Minister Jabbar Continue Reading
Oil production dipped across Iraq in October by about 113,000 barrels per day (bpd), as political and military conflict between the federal government and the Kurdistan Regional Government (KRG) took Continue Reading
Iraq’s hitting a couple of speed bumps as it gears up for 2018 oil sales, after OPEC’s second-largest producer made unprecedented moves to sell one-off cargoes this year in addition Continue Reading
The Iraqi oil ministry said Monday it was looking at documents related to the reconstruction of a crude oil pipeline extending north from Kirkuk. The ministry’s spokesman, Assim Jihad, said Continue Reading
Iraqi Oil Minister Jabbar al-Luieibi indicated Monday that the country will introduce significant changes to its next round of oil contracts. “The anticipated contracts with international oil companies represent an Continue Reading
Iraq plans to build a new pipeline that will ship oil from Kirkuk’s oilfields to the Ceyhan port in Turkey, the oil ministry said on Sunday. The new pipeline will Continue Reading
Iraq on Monday invited foreign companies to bid for contracts to explore and develop oil and natural gas reserves in nine new blocks as the OPEC nation seeks to boost Continue Reading
Kurdistan’s crude oil exports increased in the past couple of days, but oil flows are still well below the levels seen before the independence referendum in the semi-autonomous region that Continue Reading
In a bid to reduce gas flaring and pay off outstanding reparations for the 1990 invasion of Kuwait, Iraq has hired Japanese firm Toyo Engineering to help it build a Continue Reading
Thousands of federal and Kurdish soldiers are pointing their weapons at each other, leaving volatile territory inadequately guarded and vulnerable to an emboldened IS insurgency. Iraqi forces drive past an Continue Reading
Iraq is reviewing options with Turkey to get oil from a northern field to a port on the Mediterranean Sea. Getting oil flowing again from the fields in Kirkuk in Continue Reading
Disruptions to Iraqi output and sales seen persisting to 2018 OPEC has to consider political risk pushing up prices: Yergin OPEC has an Iraq problem: the group’s second-biggest exporter is Continue Reading
Royal Dutch Shell is slated to exit the play in southern Iraq by June 2018, paving the way for other oil majors to take its place. American Chevron and French Continue Reading
Between November 1 and 20, Iraq’s crude oil exports from the south averaged 3.5 million bpd, up by 150,000 bpd from October and close to record highs, as Baghdad tries Continue Reading
Iraq’s security forces have found mass graves inside oil wells in an area in northeastern Iraq close to the oil-rich Kirkuk, and they believe the bodies are of civilians executed Continue Reading
Since the Kurdish referendum in late September, when Iraqi Kurds overwhelmingly voted for independence from Iraq, there has been a drop in crude flows through the Kirkuk-Ceyhan pipeline, as tension Continue Reading
Gas field facilities have been ravaged and booby-trapped by IS militants, and tensions are mounting between rival security forces. Iraqi federal forces have secured the Akkas gas field and its Continue Reading
All data is through October 2017 and is in thousand barrels per day. (Click to enlarge) I have now included Equatorial Guinea although I only have data from January 2015 Continue Reading
After helping Iraq stifle a Kurdish push for independence, Iran is now positioning itself to take control of oil exports from the region’s giant Kirkuk field, with the first deliveries Continue Reading
