Kurdish vote hurts trade, U.S. says
Sending oil north through Turkey, trade relations for the Kurdish north of Iraq could be hurt through a vote for independence, the U.S. State Department said. A referendum of independence Continue Reading
Chevron drills oil well in Iraqi Kurdish area after two-year gap: sources
U.S. firm Chevron drilled its first exploration well this month in Iraqi Kurdistan after a two-year break, industry sources said, signaling its confidence in the area despite an international row Continue Reading
Russia becomes Iraq Kurds’ top funder, quiet about independence vote
Russia, the only major power that has not called on Iraq’s Kurds to cancel a referendum on independence next week, has swiftly become the top funder of Kurdish oil and Continue Reading
Russia’s Kurdish Pipeline Gamble
Rarely does one see such a multi-faceted move as Rosneft declaring it will build a $1 billion pipeline bringing gas from Iraqi Kurdistan to Turkey. The 30 BCm/year pipeline would Continue Reading
New offensive aims to retake western Anbar
Iraqi security forces are launching an offensive to dislodge the self-proclaimed Islamic State (IS) from the western part of Anbar province – the largest remaining swath of Iraqi territory controlled Continue Reading
Could Kurdish Independence Spark An Oil War?
As the date of the Kurdish independence referendum approaches, oil industry moguls should be concerned about an oil production war between Iran and headless Iraq. The Kurds are expected to Continue Reading
More Kurdish oil possible, Gulf Keystone says
There’s enough cash flow to invest in efforts needed to increase the level of crude oil production from the Kurdish north of Iraq, Gulf Keystone Petroleum said. Gulf Keystone, which Continue Reading
Russia’s Rosneft to fast-track gas export option in Kurdish Iraq
Russian energy company Rosneft says it’s put a gas export pipeline from the Kurdish north of Iraq on the fast track toward development. Photo courtesy of Rosneft. Sept. 18 (UPI) Continue Reading
Iraq’s Supreme Court Tells Kurds to Suspend Independence Referendum
Iraqi Kurds fly Kurdish flags during a recent event to urge people to vote in the upcoming independence referendum in Arbil, the capital of the autonomous Kurdish region of northern Continue Reading
The Kurdish Referendum Could Reshape Oil Markets
Iraq, the second-largest OPEC producer, may be facing a significant disruption to its oil exports this month. On September 25, citizens of the northern region of Kurdistan, a semi-autonomous area Continue Reading
Iraq oil minister says does not see need for more output cuts now
Iraq does not see the need for more output cuts now, but if there is a need the country will support consensus within the Organization of the Petroleum Exporting Countries Continue Reading
Kurdistan gets Russian vote of confidence
Besieged by international pressure to delay its independence referendum, the KRG gets geopolitical backup from a Rosneft agreement to underwrite oil and gas export pipelines. Massoud Barzani, the president of Continue Reading
Russia’s Rosneft clinches gas pipeline deal with Iraq’s Kurdistan
Russian oil major Rosneft ( ROSN.MM ) will invest in gas pipelines in Iraq’s Kurdistan, expanding its commitment to the region ahead of its independence vote to help it become Continue Reading
Islamic State Claims It Carried Out Deadly Attack in Southern Iraq
Iraqi security forces inspect the site of a bomb attack at a police checkpoint on a highway near the southern Iraqi city of Nassiriya on Sept. 14. BAGHDAD—Islamic State gunmen Continue Reading
Shell accelerates Iraq drawdown with Majnoon exit
Negotiations begin over handing back the Majnoon operatorship, months after stake in West Qurna 1 was put up for sale, highlighting one major oil company’s resistance to Iraq’s tough terms. Continue Reading
Shell set to draw line under a century of Iraqi oil
Royal Dutch Shell ( RDSa.L ) is set to end a century of oil production in Iraq by withdrawing from two of the Arab state’s flagship fields to focus on Continue Reading
OPEC’s No. 2 Faces Civil War Threat
A majority of Iraq’s law enforcement network has congregated in the northern and western portions of the country to contain the efforts of the Islamic State to restart the reign Continue Reading
Shell accelerates Iraq drawdown with Majnoon exit
Negotiations begin over handing back the Majnoon operatorship, months after stake in West Qurna 1 was put up for sale, highlighting one major oil company’s resistance to Iraq’s tough terms. Continue Reading
Shell to withdraw from Iraq’s Majnoon oilfield – Iraqi oil officials
A worker walks through the Majnoon oilfield in Basra, 420 km (261 miles) southeast of Baghdad, October 6, 2013. REUTERS/Essam Al-Sudani BAGHDAD (Reuters) – Royal Dutch Shell is seeking to Continue Reading
Alamri out as head of Iraq’s oil sales
Iraq’s longtime head of oil sales, Falah Alamri, has been transitioned from director general of the State Oil Marketing Organization (SOMO) to advisor to the Oil Ministry. Alaa al-Yassiri, acting Continue Reading
Hawija offensive hamstrung by Baghdad-Erbil mistrust
Political tensions arising from Kurdistan’s upcoming independence referendum are complicating an impending offensive to dislodge the self-proclaimed Islamic State (IS) militant group from one of its last strongholds in Iraq. Continue Reading
Russia’s Big Bet On Kurdish Oil
In June 2017, Kurdistan Regional Government (KRG) and Russian energy behemoth Rosneft signed several cooperation, investment and production sharing agreements regarding hydrocarbon exploration, production, infrastructure, logistics and trading. Rosneft also Continue Reading
For Iraq’s Long-Suffering Kurds, Independence Beckons
Men bought and sold prayer beads last month in front of the citadel in Erbil, a Unesco World Heritage site, in the Iraqi Kurdistan region. BARZAN, Iraq — A pair Continue Reading
DNO takes Exxon operatorship
Norway’s DNO is teaming up with ExxonMobil and a state-backed Turkish company in Ninewa province’s Bashiqa block, under contract by Iraq’s autonomous Kurdistan region. “DNO will assume operatorship of the Continue Reading
Oil revenues up, but August exports dip
Iraq is averaging higher-than-expected oil prices so far this year, but is struggling to maintain export volumes as a result of OPEC cuts and disputes with Kurdistan. A worker from Continue Reading
Has Iraq Stopped Cheating On The OPEC Deal?
OPEC’s no.2 Iraq is currently producing 4.32 million bpd of oil, below the 4.351 million bpd ceiling it had pledged in the production cut deal, Iraq’s Oil Minister Jabbar Al-Luaibi Continue Reading
Iraq cutting more oil production than necessary
Iraq is doing more than it needs to in terms of working to balance an oversupplied market through an OPEC-led effort, its oil minister said Friday from Moscow. Russian Energy Continue Reading
Iraq’s Solution To Lower For Longer Oil Prices
OPEC’s second-largest oil producer, Iraq, has never hidden the fact that it wants to get the highest possible revenues from its oil. It even pleaded exemption from the cartel’s cuts Continue Reading
KRG deal settles debts, gives more acreage to Pearl
By settling with Dana Gas and partners, the Kurdistan region avoids tens of billions of dollars of potential liability and commissions massive new gas production within two years. A flare Continue Reading
Platts plans assessments for Iraqi Basrah Light and Basrah Heavy crude
Oil price agency S&P Global Platts is proposing to start price assessments for Iraqi Basrah Light and Basrah Heavy crude oil cargoes on a free-on-board (FOB) Basrah basis from Nov. Continue Reading
Iraq Braves Break With Tradition to Get Oil’s True Worth
OPEC’s second-largest producer is stepping up the campaign to get more for its oil by looking to revamp the way it sells crude to its biggest customers. (Bloomberg) — OPEC’s Continue Reading
Mideast oil producers on low-level alert after Iraq pricing switch
Gulf OPEC members Saudi Arabia and Kuwait are unlikely to follow Iraq in a major shift in the way it prices its oil in Asia and will monitor Baghdad’s attempts Continue Reading
Siba preparing year-end commercial gas production
The first successful project from Iraq’s third bidding round, in 2010, is on track to reach plateau production within five years. A worker at the Siba gas field on Aug. Continue Reading
Foiled spy plot strains Turkey-KRG relations
The Kurdistan Workers’ Party (PKK) has captured four Turkish intelligence operatives in Sulaimaniya after they attempted to arrest or assassinate a top leader of the Kurdish guerrilla group. The incident Continue Reading
Iraq faces resistance from Asian buyers on ‘ambitious’ oil price change
Iraq’s proposal to change the way it prices crude oil in Asia faces resistance from refiners who fear that longer lead times between pricing and deliveries will expose them to Continue Reading
Kurdish oil export payments boost DNO’s performance
Norwegian energy company DNO said its overall performance was stimulated by regular payments for oil exported from the Kurdish north of Iraq. Photo courtesy DNO Aug. 24 (UPI) — Revenues Continue Reading
KRG reaches landmark deal with DNO and Genel
Iraq’s autonomous Kurdistan Regional Government (KRG) on Thursday gave extra project equity and profit payments to two of its earliest international oil investors to absolve outstanding debts – a deal Continue Reading
Revolution or evolution? Iraq shakes up Asian oil trading: Russell
There is little doubt that Iraq’s mooted shift to using Dubai crude futures from long-standing price assessor Platts will shake up the trading of Middle East oil, but is it Continue Reading
Kurdish Independence Could Deal A Major Blow To Oil Markets
The future stability of OPEC’s second-largest oil and gas producer could be decided by the end of 2017. Unrest is growing in Iraq as the Kurdish referendum grows nearer. Soon, Continue Reading
Turkish foreign minister says to tell Iraqi Kurdish officials independence vote wrong
Turkish Foreign Minister Mevlut Cavusoglu speaks during a news conference at the European Commission in Brussels, Belgium July 25, 2017. ANKARA (Reuters) – Turkish Foreign Minister Mevlut Cavusoglu said on Continue Reading
In Breakaway Move From Saudis, Iraq May Change Oil Pricing
In a bid to increase oil revenues and possibly setting the stage for its own benchmark crude grade, Iraq has told customers it may change the way it prices Basra Continue Reading
Garraf oil field attacked
Attackers opened fire with machine guns and a rocket-propelled grenade (RPG) near a gas-oil separation station at the Garraf oil field in southern Dhi Qar province Friday evening. The characteristics Continue Reading
Iraq plans to shift Basra crude price benchmark for Asia from January
Iraq has informed its customers that it plans to change its price benchmark for Basra crude in Asia to DME Oman futures from January, the country’s latest move to reform Continue Reading
Former Exxon advisor likely to succeed ousted Basra governor
In the wake of a scandal that led to the sudden resignation of Basra’s governor, Taha al-Tamimi has emerged as the top candidate to lead Iraq’s oil capital. Basra’s then-governor, Continue Reading
Turkey Expands Influence In Kurdish Energy Sector
Over the past 12 years, Turkish energy companies have moved into the Kurdish energy sector at great pace in line with the sector’s rapid expansion under the semi-independent government in Continue Reading
With a wary eye on Iran, Saudi and Iraqi leaders draw closer
It was an unusual meeting: An Iraqi Shi’ite Muslim cleric openly hostile to the United States sat in a palace sipping juice at the invitation of the Crown Prince of Continue Reading
Kurdish oil player sees steady production course ahead
Gulf Keystone Petroleum sees its legacy embedded in the Kurdish north of Iraq with 40 million barrels of production. Photo courtesy Gulf Keystone Petroleum Aug. 14 (UPI) — Production from Continue Reading
Saudis ready to export more oil to Iraq
After discussions on compliance with an OPEC-led effort to balance the market, Saudi Arabia’s energy minister said Iraq could be the target for more exports. Saudi Arabia and Iraq are Continue Reading
Iraq’s Kurds maintain Sept. 25 as date for independence referendum, Kurdish official says
Iraq’s Kurds will maintain their plan to hold a referendum on independence on Sept. 25, despite a U.S. request to postpone it, a high-ranking Kurdish official told Reuters on Saturday. Continue Reading
Rivers of crude spill from IS smuggling operation
Militants from the self-proclaimed Islamic State (IS) are continuing to steal oil from Iraqi fields in the mountains of Salahaddin province, in a primitive operation that has created a massive Continue Reading