Tag Archives: Iraq

The US Energy Information Administration (EIA) announced, on Sunday, that Iraq’s oil exports to the United States rose last week to 226,000 bpd last week. The EIA mentioned that the average US imports of crude oil during the past week from nine major countries reached 5.642 million bpd, increasing by …

Iraq reopened on Friday its rehabilitated North Oil Refinery in Baiji, which had been inactive for more than 10 years and which brings OPEC’s second-largest crude producer closer to being self-sufficient in oil products, the Prime Minister Media Office said in a statement. The Baiji refinery was damaged by insurgent …

OPEC’s second-largest producer, Iraq, is committed to its voluntary cut in the OPEC+ agreement and will produce no more than 4 million barrels per day (bpd) of crude oil, Iraq’s Oil Minister Hayan Abdel-Ghani said on Monday. Iraq, which pumped 4.292 million bpd in December, per OPEC’s secondary sources, is …

Russian gas giant Gazprom has been awarded the development contract for the supergiant Nasiriyah oil field in Iraq’s strategic southern eastern region close to the main export terminal of Al Fao in Basra. At around the same time, it was announced that China Petroleum Engineering and Construction Corp (CPECC) and …

Oil extended gains on Thursday after Israel rejected a ceasefire offer from Hamas, while a weaker dollar also supported prices. Brent crude futures rose 30 cents, or 0.4%, at $79.51 a barrel at 0400 GMT. U.S. West Texas Intermediate crude futures climbed 26 cents, or 0.4% to $74.12 a barrel. …

The Iraqi Ministry of Oil confirmed on Friday that oil export revenues through January surpassed $8.025 billion. According to row data issued by the State Organization for Marketing of Oil (SOMO), the total exports of crude oil during January were slightly more than 103.5 million barrels, with revenues reaching $8,025,616. …

Last month, OPEC reduced oil production as the group and its allies made fresh efforts to support prices and prevent a global surplus. According to a Bloomberg survey, OPEC decreased its daily oil production by 490,000 barrels last month to reach 26.57 million bpd. About half of the reduction came …

The Ministry of Oil announced on Sunday that the total oil exports and achieved financial revenues for last December surpassed $8 billion, according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO). In a statement today, the ministry reported that the quantity of crude oil exports reached …

Basra crude experienced weekly gains as global oil prices increased for the fourth consecutive week. Basra Heavy crude closed its last session with a rise of 1.45 cents, reaching $77.61. It recorded weekly gains of $4.3, equivalent to 5.87%. Basra Intermediate crude closed its last session with an increase of …

There are two key reasons why China, Russia, and the U.S. have long been scrambling to secure control over Iraq’s gas sector, and these are its massive potential size and its huge geopolitical importance. Last week’s awarding of the major build-own-operate-transfer contract to a subsidiary of Chinese flagship gas firm …