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2018-08-03 09:50:00

IRAQ'S OIL EXPORTS 3.5 MBD

IRAQ'S OIL EXPORTS 3.5 MBD

PLATTS- Iraqi southern crude oil exports in July surged to a record high of 3.543 million b/d, data from the oil ministry showed Wednesday, despite OPEC's second largest oil producer facing major protests near its key oil assets.

Exports in July were up 22,000 b/d from June as loadings from the Persian Gulf terminals beat the previous record of 3.535 million b/d set in December 2017, data showed.

The rise occurred despite the continued suspension of loadings from the Khor Al-Amaya terminal due to sea line leaks and routine maintenance.

The exports comprised 2.70 million b/d of Basrah Light crude and 843,000 b/d of Basrah Heavy, according to figures obtained from sources close to the State Oil Marketing Organization.

Iraq oil output and exports have not been impacted by civil disturbances and violent demonstrations around some of the key oil fields such as Rumaila (1.5 million b/d), West Qurna 1 (500,000 b/d) and West Qurna 2 (380,000 b/d), all in Basra province, which currently account for 55% of federal Iraq production.

The demonstrations are over jobs and basic services, with anger at the government directed at the oil industry of which Basra is by far the largest participating province.

The ministry statement quoted spokesman Asim Jihad as saying the average provisional price during July was $69.16/b, a rise of 40 cents/b from the price in June while oil revenues totaled $7.6 billion last month.

All of the federal exports were from Iraq's southern Persian Gulf oil terminals, with no shipments from the Turkish port of Ceyhan.

A political dispute with the semi-autonomous Kurdistan Regional Government has prevented federal exports of some Kirkuk crude through the region's own pipeline to Turkey, while the federal pipeline to Turkey was destroyed by the self-styled Islamic State militant group in early 2014.

Meanwhile, the KRG shipped 9.8 million barrels or 316,129 b/d in July compared to 9.5 million barrels or 316,666 b/d in June, according to reports obtained from sources at Ceyhan.

 

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Earlier:

 ЛУКОЙЛ ДЛЯ ИРАКА: 800 ТБД
2018, May, 14, 10:50:00

LUKOIL FOR IRAQ: 800 TBD

LUKOIL - LUKOIL and the Basra Oil Company signed a Development Plan of West Qurna-2 field that provides for an oil production plateau of 800 thousand barrels per day. According to the Plan, the oil production of 480 thousand barrels per day will be reached in 2020 and 800 thousand barrels per day is expected in 2025.

 BP - IRAQ AGREEMENT
2018, May, 8, 10:40:00

BP - IRAQ AGREEMENT

REUTERS - Iraq’s state-run North Oil Company signed an agreement with BP on Monday to triple output from the Kirkuk fields in the north of the country, Oil Minister Jabar al-Luaibi said.

 

 

 IRAQ'S OIL PRODUCTION: 6.5 MBD
2018, April, 4, 09:15:00

IRAQ'S OIL PRODUCTION: 6.5 MBD

PLATTS - Iraq has adjusted its crude oil production capacity target and is now aiming to achieve 6.5 million b/d by 2022, oil minister Jabbar al-Luaibi said Monday.

 

 

 IRAQ'S OIL EXPORTS: 3.45 MBD
2018, April, 2, 09:30:00

IRAQ'S OIL EXPORTS: 3.45 MBD

REUTERS - Iraq exported 3.453 million barrels per day (bpd) of crude oil from its southern ports in March, slightly above the February average, the oil ministry said on Sunday.

 

 

 RESPONSIBILITY TO THE MARKET
2018, March, 5, 11:30:00

RESPONSIBILITY TO THE MARKET

REUTERS -“We all should look with responsibility to the market in order to keep the balance in the market as much as we can so as not to harm investors,” said Ali Nazar, Iraq’s national representative to OPEC.

 

 

 IRAQ'S OIL PRODUCTION: 5 MBD
2018, January, 15, 09:55:00

IRAQ'S OIL PRODUCTION: 5 MBD

PLATTS - Iraq is nearing a production capacity of 5 million b/d, though it will comply with its quota under the OPEC production cut agreement, oil minister Jabbar al-Luaibi said

 

 

 IRAQ'S OIL EXPORT UP TO 3.535 MBD
2018, January, 3, 15:40:00

IRAQ'S OIL EXPORTS UP TO 3.535 MBD

PLATTS - Federal crude oil exports from Iraq's southern Persian Gulf terminals edged up in December to reach a new record high, averaging 3.535 million b/d, up 33,000 b/d from in November, the latest data from the oil ministry showed.

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