2020-09-02 12:55:00
IRAQ NEED EXEMPTION
PLATTS - 02 Sep 2020 - Iraq is seeking exemptions from OPEC+ cuts in Q1 of 2021 and has discussed the issue with key producers in the 23-member coalition during three consecutive meetings, state-owned al-Sabaah newspaper reported Sept. 1, citing the country's oil minister.
Ihsan Ismaael said Iraq will continue to trim its output in October through December as per the OPEC+ agreement, the newspaper reported.
The minister said the semi-autonomous Kurdish region has maintained its exports without consulting with the federal government in Iraq.
OPEC's second-largest oil producer has been among the worst offenders in quota busting this year and had pledged to cut 400,000 b/d in both August and September to make up for overproduction in May through July in a plan endorsed by Saudi Arabia and its key Gulf allies.
The country is under pressure from leading OPEC+ members, especially Saudi Arabia and Russia, to improve its compliance with the cuts, which have been complicated by financial constraints and an independent Kurdish oil policy.
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Earlier:
2020, August, 28, 15:15:00
IRAQ'S OIL EXPORTS 2.763 MBD
Iraq's Ministry of Oil has announced finalised oil exports for July of 85,663,290 barrels, giving an average for the month of 2.763 million barrels per day (bpd),
2020, August, 27, 13:30:00
IRAQ, U.S. ENERGY DEALS
Iraq is under US pressure to wean itself off Iranian electricity and gas imports,
2020, August, 25, 14:20:00
IRAQ NEED 7 MBD
Iraq is under US pressure to wean itself off Iranian electricity and gas imports, needed due to power shortages and flaring of associated gas, which is also bound by production limits due to the country's attempted adherence to OPEC+ production cuts.
2020, July, 31, 10:00:00
IRAQ'S REFINERY $4 BLN
Iraq's Council of Ministers has approved a contract with Japan's JGC Corporation to build a 55,000-bpd refinery in Basra province.
