Tag Archives: Iraq

Iran and Iraq signed a basic agreement in February that envisaged exporting Iraqi oil through the Iranian territory .

The Persian Gulf nation aims to raise output to over 1 billion cubic meters by March from around 880 million cubic meters daily.

Iraq is Iran'.s southwestern neighbor. and its port city of Basra is located in southeast of the country at northern edge of the Persian Gulf.

Basra Gas is a joint venture between Shell. South Gas Co.. Mitsubishi Corp. and the petrochemical project Nebras.

According to Oil Minister Bijan Namdar Zanganeh. negotiations are underway with Iraq to develop three joint oilfields.

Since the Iraqi army took control of the fields in the oil-rich Kirkuk area in mid-October. reports of disruptions in oil flows have been a daily occurrence.

Iraq sold 3.29mn bpd of crude from Basrah port in the south last month. down 2% from September. according to tanker tracking.

Iraq is holding talks with Iran to truck 15.000 bpd of Kirkuk crude to Iran’s Kermanshah refinery.

To cope with Basra crude surplus in the United States. traders have slowed ships and stored some cargoes off the Gulf Coast. shipping data on Eikon showed.

OPEC’s de facto leader. Saudi Arabia. needed to hit the $60 benchmark in order to feel safe in authorizing its state-run firm. Saudi Aramco’s. initial public offering.