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2018-08-10 10:20:00

IRAQI OIL PRODUCTION: 4.46 MBD

IRAQI OIL PRODUCTION: 4.46 MBD

PLATTSIraqi crude oil production hit its highest in 13 months in July of 4.46 million b/d, the country's State Oil Marketing Organization said Thursday.

OPEC's second largest producer has consistently reported total production of 4.36 million b/d since September last year. Both figures include output from the semi-autonomous Kurdistan Regional Government.

Under the OPEC cut deal, which began January 1, 2017, and has now been extended through to the end of 2018, Iraq was given a ceiling of 4.351 million b/d.

Along with its non-OPEC allies, the group agreed June 23 to raise production by 1 million b/d. However, it left unsettled how the increase would be allocated.

S&P Global Platts latest OPEC survey, one of the secondary sources used by the producer group to gage compliance, put Iraqi production at 4.57 million b/d in July, some 110,000 b/d higher than Iraq's official number.

In a document sent to Platts, Iraq also said it exported 3.875 million b/d in July, inching up 25,000 b/d from June to hit its highest since January 2017.

Data from the oil ministry earlier this month put exports from Iraq's Persian Gulf terminals at 3.543 million b/d, a new record high, leaving Kurdish pipeline exports to the Turkish Mediterranean port of Ceyhan at 242,000 b/d.

Iraq has no option to export Kirkuk crude from the north of the country due to a political dispute with KRG, while the federal pipeline to Turkey was destroyed by militants from the self-styled Islamic State group in early 2014.

The KRG itself shipped around 316,129 b/d in July, according to reports obtained from sources at Ceyhan. This is around 74,000 b/d higher than SOMO's estimate of Kurdish exports.

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Earlier:

 C.Asia
2018, August, 3, 09:50:00

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.

 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.

 

Tags: IRAQ, OIL, PRODUCTION