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2019-01-14 11:50:00

IRAQ'S OIL DOUBLED

IRAQ'S OIL DOUBLED

U.S. EIA - Crude oil production in Iraq averaged 4.5 million barrels per day (b/d) through August 2018, up from 4.4 million b/d in 2017. Iraq’s crude oil production has been steadily increasing since declines in the late 1990s and early 2000s, and it has nearly doubled over the past decade.

Iraq is the second-largest crude oil producer in the Organization of the Petroleum Exporting Countries (OPEC), after Saudi Arabia, and holds the world's fifth-largest proved crude oil reserves. Nearly 90% of Iraq's crude oil production comes from onshore oil fields in the southern part of the country; these fields are under the control of the central government in Baghdad.

The remaining 10% of Iraqi crude oil production comes from oil fields in northern Iraq, mostly operated by the Kurdistan Regional Government (KRG). Disputes between the Iraqi central government and KRG have resulted in disruptions to production in the region, but current production has partially recovered as of mid-2018.

Iraqi consumption of petroleum and other liquids has also been increasing over the past decade, and consumption reached 0.8 million b/d of petroleum and other liquids in 2017. Iraq relies on imports of some petroleum products—including diesel, gasoline, and kerosene—but much of the country's petroleum and other liquids consumption is met by domestic production.

Iraq produces significantly more oil than it consumes and exports the remainder. Total seaborne Iraqi crude oil exports averaged 3.8 million b/d in 2017, mostly from terminals in southern Iraq. More than half of Iraqi seaborne exports go to markets in Asia. Exports to the United States account for 17% of total Iraqi exports. Relatively small volumes of crude oil are also transported by truck or pipeline to Turkey. Iraq's economy is heavily dependent on crude oil export revenues. Crude oil exports accounted for 88%, or almost $60 billion of total government revenues in 2017, excluding those from the KRG.

 

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Earlier:

 W.Asia
2019, January, 7, 09:50:00

IRAQ'S OIL PRODUCTION: 4.513 MBD

REUTERS - Iraq said on Friday it was committed to the OPEC+ output-cutting deal and would keep its oil production at 4.513 million barrels per day for the first half of 2019.

 

 

 IRAQI OIL EXPORTS DOWN TO 3.372 MBD
2018, December, 5, 09:50:00

IRAQI OIL EXPORTS DOWN TO 3.372 MBD

PLATTS - Federal Iraq's crude oil exports fell to 3.372 million b/d in November, the lowest since April this year, as loadings were affected by rough weather, according to a statement from the oil ministry released over the weekend.

 

 

 IRAQ'S OIL: NO RECORD
2018, September, 21, 10:15:00

IRAQ'S OIL: NO RECORD

ARAB NEWS - Oil exports from southern Iraq are heading for a record high this month, two industry sources said, adding to signs that OPEC’s second-largest producer is following through on a deal to raise supply and local unrest is not affecting shipments.

 

 

 IRAQ OIL EXPORTS: 4 MBD
2018, September, 3, 15:10:00

IRAQ OIL EXPORTS: 4 MBD

PLATTS - OPEC's second-largest producer, Iraq, boosted its southern crude oil exports to a new record high of 3.583 million b/d in August, according to the latest oil ministry data.

 

 

 IRAQI OIL PRODUCTION: 4.46 MBD
2018, August, 10, 10:20:00

IRAQI OIL PRODUCTION: 4.46 MBD

PLATTS - Iraqi 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.

 

 

 IRAQ'S OIL EXPORTS 3.5 MBD
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.

 

 

Tags: IRAQ, OIL, PRODUCTION
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