Tag Archives: Iraq

Iraq’s oil output will reach 4.580 million barrels per day as of July following an OPEC+ decision to increase production, an Iraqi Oil Ministry spokesperson said on Friday, according to the state news agency. “Production increase will be at a rate of 70,000 bpd,” spokesman Aasem Jehad said, noting that …

The Iraqi Oil Marketing Company “SOMO” announced that the Chinese oil companies are the top buyers of Iraqi oil during April 2022. According to SOMO statistics, 34 international companies bought Iraqi oil the last April. China ranks first with eight companies, followed by India (seven companies), while the USA ranks …

Tensions are rising between Baghdad and Kurdish officials in the semi autonomous Kurdistan Regional Government in Northern Iraq as Iraq’s Oil Ministry prepares to take control of the Kurdish oil sector, including contracts with foreign companies. On Saturday, the Iraqi Oil Ministry announced plans to create a new national oil …

Iraq’s efforts to control revenue collected by the Kurdistan Regional Government (KRG) have extended to requests for oil and gas firms operating in the semi-autonomous region to sign new contracts with state-owned marketer SOMO rather than the KRG. Oil Minister Ihsan Ismael on May 7 said Iraq’s oil ministry would …

Iraq’s oil ministry thwarted three prospective deals last year that would have handed Chinese firms more control over its oil fields and led to an exodus of international oil majors that Baghdad wants to invest in its creaking economy. Since the start of 2021, plans by Russia’s Lukoil and U.S. …

The representative of Iraq at the Organization of the Petroleum Exporting Countries (OPEC) confirmed on Saturday that the organization agreed to a new increase in the country’s production of oil starting from July, according to the Iraqi News Agency (INA). The Iraqi representative at OPEC, Muhammad Saadoun, in his statement …

Iraq is redirecting crude flows from its primary customer base in Asia to refineries in Europe — and may soon be able to offer more volumes with the upgrading of a loading port, officials with state marketer SOMO said May 12, as Western countries have sought to wean themselves off …

Iraq’s Minister of Oil, Ihsan Abdul-Jabbar Ismail, dismissed the Kurdistan Regional Government’s management of the oil wealth as “faulty” and wasteful of the Iraqi treasury resources. Ismail’s remarks came during the fourth meeting of the opinion commission on the Supreme Federal Court’s ruling against the KRG’s oil and gas law, …

U.S. imports of crude oil from Iraq averaged 184 thousand barrels per day (bpd) in April, the Energy Information Administration (EIA) said this weekend. According to EIA’s monthly report, April imports from Iraq amounted to 5.52 million barrels, down from 7.13 million barrels (average 230 bpd). Iraq’s oil exports to …

Iraq collectively grossed more than 10 billion dollars from oil sales in March 2022, according to a survey by the state oil marketer, SOMO. Crude oil exports amounted to 100,579,612 barrels, yielding 10,913,197 dollars, SOMO survey said. Exports from oilfields in Mid and south Iraq amounted to 99,130,677 barrels, while …