Tag Archives: Iraq

Iraq is OPEC”s second largest oil producer after Saudi Arabia. recording a daily production of 477.5 million barrels per day in 2016.

Iraqi Kurdistan is made up of three provinces that are run by an autonomous regional government and protected by their own security services.

Saudi Aramco had cut Arab Light pricing to Asia for the past three months as the kingdom fought to defend sales.

SOMO and Russia'.s Litasco have set up a joint trading company in Dubai to market crude.

Currently. Iran has agreements with Iraq and Oman to supply 28 bcm y of gas.

OPEC members are preparing to hold meeting on May 25 to discuss the market and oil cut deal in Vienna.

Saudi Arabia is pushing to extend the cuts by a further nine months until next March.

Iran backs regional resistance groups. such as Lebanon'.s Hezbollah. which are considered terrorists by the US.

Some 50.000 barrels will be added to Doroud and Soroush fields'. daily output by the end of the present fiscal.

Around 83.000 barrels of Yadavaran production is a blend of light crude and the rest is heavy crude.