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2016-08-24 18:45:00

IRAQ WANTS MORE

IRAQ WANTS MORE

 

IRAQ IRAN OIL PRODUCTION 2011 - 2016

 

REUTERS wrote, Iraq's prime minister said the country has not yet reached its full oil market share, suggesting his government would not restrain crude output as part of any possible OPEC agreement to lift prices.

"And the capping, we are not open to that because Iraq is still below what it should produce," Haider al-Abadi told reporters, responding to a question about whether the second-largest OPEC producer would be open to such a deal.

Venezuela, whose economy like Iraq's has been hit hard by the oil price collapse, has for months sought to rally producers toward an agreement to limit production. Despite rising this year, oil at around $49 a barrel is less than half its level of mid-2014.

Members of the Organization of the Petroleum Exporting Countries are due to meet informally in Algeria next month on the sidelines of the International Energy Forum (IEF). Russia is also expected to attend the IEF.

Abadi's comments come as sources in OPEC and the oil industry told Reuters Iran, OPEC's third-largest producer, was sending positive signals that it may support joint action to prop up the oil market.

Tehran refused to join an attempt in April to freeze output at January levels, scuppering those talks because Saudi Arabia said it wanted all producers to join the initiative.

Iraq, which depends on oil sales for 95 percent of its public spending, appears set to continue boosting production, which currently stands at around 4.6 million barrels per day.

The Baghdad government resumed partial pumping from fields in Kirkuk operated by state-run North Oil Company (NOC) via a Kurdish pipeline to Turkey, the oil ministry said on Thursday without explanation.

Oil flow had stopped in March because of a dispute between Abadi's government and authorities in the autonomous Kurdish region over control of oil resources.

Abadi said on Tuesday the decision was made in order to extract gas associated with oil and avoid damage to reservoirs.

"We have to produce oil in order to get gas," he told the news conference in Baghdad.

"This is a very old oil field, if this field does not produce oil, it can be degraded... So we were told to pump oil from Kirkuk to Ceyhan," he said, referring to the Turkish Mediterranean port where the pipeline delivers crude for international oil sales.

Abadi also said Iraq may base its public budget for 2017 on an oil price of $35 per barrel, about the same level as this year after it was lowered from an initial forecast of $45 a barrel. Iraq sells its crude at a discount to international oil prices.

The price assumption for 2017 could still be changed by parliament which has to approve it, Abadi's spokesman said separately.

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Earlier: 

IRAQ RESTART INVESTMENT 

IRAQI OIL: 4.6 MBPD 

IRAQ'S OIL UP TO 3.2 MBPD 

СОТРУДНИЧЕСТВО РОССИИ И ИРАКА 

IRAQ'S FIRST GAS EXPORT

 

 

 

Tags: IRAQ, OIL, PODUCTION, PRICES

Chronicle:

IRAQ WANTS MORE
October, 20, 12:10:00

NORWAY'S PRODUCTION DOWN 171 TBD

NPD - Preliminary production figures for September 2017 show an average daily production of 1 772 000 barrels of oil, NGL and condensate, which is a decrease of 171 000 barrels per day compared to August.

IRAQ WANTS MORE
October, 20, 12:05:00

ЦЕНА URALS: $ $55,55881

Средняя цена на нефть Urals за период мониторинга с 15 сентября по 14 октября 2017 года составила $55,55881 за баррель, или $405,6 за тонну.

IRAQ WANTS MORE
October, 18, 19:10:00

OIL PRICE: ABOVE $58

Brent crude futures, the international benchmark for oil prices, were at $58.16 at 0643 GMT, up 28 cents, or 0.5 percent from their last close - and almost a third above mid-year levels. U.S. West Texas Intermediate (WTI) crude futures were at $52.03 per barrel, up 15 cents, or 0.3 percent, and almost a quarter above mid-June levels.

IRAQ WANTS MORE
October, 18, 19:05:00

РОССИЯ: БОЛЬШЕ НЕФТИ И ГАЗА

Александр Новак отметил рост основных показателей всех отраслей энергетики в прошлом году: «Мы имеем рекордные показатели за прошлый год по добыче нефти, угля. Идёт рост добычи и экспорту газа, в том числе в Европу на уровне 15 процентов. По углю мы наблюдаем рост добычи даже больше уровня прошлого рекордного года. Также отмечается рост производства электроэнергии на 2%, что говорит об оживлении экономики».

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