Tag Archives: Iraq

Iraq produced 3.955 million barrels per day (bpd) of crude oil in May, up 17,000 bpd from April, a source at state-owned marketer SOMO told Reuters on Tuesday. The May production, according to SOMO, was 265,000 bpd below Iraq’s OPEC+ quota when including pledged additional voluntary cuts. Iraq’s production has …

Saudi Arabia has announced the launch of the powergrid interconnection project with Iraq, which entails the implementation of a dual-circuit transmission line linking the northern city of Arar in KSA to Yusufiya in western Baghdad, boasting an initial capacity of 1000 megawatts. The agreement for the project was signed by …

Iraq has agreed to pay about $2.76 billion in gas and electricity debt to Iran after receiving a sanctions waiver from the United States, a senior Iraqi foreign ministry official said. Iraqi Foreign Minister Fuad Hussein was given the clearance during a meeting with U.S. Secretary of State Antony Blinken …

Following the recent China-brokered resumption of relationship deal between historical enemies Saudi Arabia and Iran, a deal for the Kingdom to develop two key projects in Iran’s close ally Iraq is in the offing. The problem with this idea is that it is dependent on two highly unpredictable elements. The …

Iraq is negotiating with Turkey to resume pumping oil exports from the Kurdistan region, confirmed by Iraqi Oil Minister Hayan Abdul-Ghani on Friday. He also emphasized that the OPEC+ coalition is committed to making decisions that achieve balance in the oil market and serve the interests of consumers, producers, and …

Iraq has slipped one spot to the 14th position in the ranking of countries with the lowest petrol prices, the latest data from Global Petrol Prices, a prominent international resource tracking fuel costs, showed this weekend. The website’s May 2023 report revealed that Iraq’s descent was prompted by a slight …

Iraq’s oil exports to the United States have seen a marked contraction, dropping to an average of 136,000 barrels per day (bpd) in the preceding week, data from the US Energy Information Administration (EIA) showed on the weekend. This echoed a trend in the United States’ broader crude oil intake …

The Kurdistan Regional Government in northern Iraq has lost more than $1.5 billion since oil exports to Turkey were stopped, according to a report published on Tuesday by the US financial website Zero Hedge. Oil production in the region under KRG rule has continued to decline, extending a stoppage that …

The Shell-led Basrah Gas Co. (BGC) will start up a long-delayed project in Iraq next week that should slash the high volumes of associated gas flared at the country’s giant southern oil fields and move it a step closer to ending costly gas imports from Iran. The $3 billion project …

Iraq is waiting on a final answer from turkey to resume its northern oil exports through the Mediterranean port of Ceyhan, the country’s oil minister said Tuesday. Hayan Abdel-Ghani’s remarks come as oil production in Iraq’s semi-autonomous Kurdistan Regional Government (KRG)-ruled region continues to drop as export flows to Turkey’s …