Tag Archives: Iraq

The International Energy Agency (IAE) reported that Iraq ranks second in the Arab world for oil reserves. According to the IEA’s latest report, Saudi Arabia ranked first in oil reserves with 267.19 billion barrels. In comparison, Iraq maintained its position (second) with 145.01 billion barrels, and the UAE showed an …

Iraqi oil exports to the United States declined during the week of December 16-22, according to the U.S. Energy Information Administration (EIA). The EIA’s latest weekly data showed that U.S. imports of crude oil from Iraq averaged 22,000 barrels per day (b/d) during the week, down by 63,000 b/d from …

The US Energy Information Administration (EIA) announced on Sunday that Iraq’s oil exports to the United States exceeded five million barrels during last November. According to a table provided by EIA, “Iraq exported 5.13 million barrels of crude oil to the US in November, averaging 171,000 bpd. This is lower …

Basra crude oil reported weekly losses following a prolonged decline in global oil prices, marking the sixth consecutive week of downturn. During its last trading session on Friday, Basra Heavy crude concluded with a $2.84 drop, settling at $77.52, resulting in weekly losses of $1.08, representing a 1.37% decrease. Basra …

Iraqi officials in the oil sector plan to meet with representatives of international oil companies and Iraqi Kurdish officials in early December to discuss contract amendments focusing on the latest efforts to resume oil exports from northern Iraq through Turkey. The Undersecretary of the Ministry of Oil for Extraction Affairs, …

The General Director of the Industry, Mine and Trade Organization of the Iranian province of East Azerbaijan, Mohammad Jafar Ozmaei, stated that during the first 8 months of the current Iranian year, the province exported non-oil products amounting to over 960 million dollars, Mehr reports. According to Ozmaei, between March …

In line with Moscow and Beijing’s objective of keeping the West out of energy deals in Iraq to keep Baghdad closer to the new Iran-Saudi axis and to “end [the] Western hegemony in the Middle East [that] will become the decisive chapter in the West’s final demise,” Russia has struck …

The Iraqi Ministry of Oil confirmed on Saturday the finalization of a settlement agreement with ExxonMobil, paving the way for the American energy giant’s departure from the West Qurna 1 oil field. Simultaneously, the ministry announced that Chinese company PetroChina would assume the field’s leading operator role. Hassan Muhammad, deputy …

Oil prices gained about 2% on Friday as Iraq voiced support for OPEC+’s oil cuts ahead of a meeting in two weeks and as some speculators covered massive short positions ahead of weekend uncertainty. Still, prices settled with weekly losses of 4%, their third straight weekly decline. Despite gaining $0.41 …

Lukoil signed a supplementary agreement with state-owned Basra Oil Co. to extend the oil service contract for West Qurna 2 field in Iraq by 10 years to 2045 and to double oil production to 800,000 b/d, Lukoil said in a release. The field development plan envisages bringing new multi-well pads …