Tag Archives: Iraq

Iraq has secured its position as the fifth-largest country worldwide regarding oil reserves, as stated by the Italian oil corporation Eni. Eni’s data reveals that Iraq has a substantial oil reserve of 145.019 billion barrels for 2022, reflecting a marginal compound growth rate of 0.1%. In 2010, Iraq held 143.100 …

The U.S. Energy Information Administration (EIA) announced on Sunday a substantial increase in Iraq’s oil exports to the United States, reaching 305,000 barrels per day in the past week. According to data provided by the EIA, the average U.S. crude oil imports from eight key countries during the previous week …

A subsidiary of China National Petroleum Corp (CNPC), Daqing Drilling Engineering Co, has been awarded the contract for the development of the Rumaila oilfield in Iraq. The Rumaila oilfield in southern Iraq, near to the Kuwaiti border, will see Daqing drill wells with two rigs as part of a $194 …

The United Arab Emirates and Iraq have started regaining their share in India’s oil import basket as the world’s largest oil exporters Saudi Arabia and Russia plan to keep their production low to boost the prices. Russia, however, continues to hold 42% of the share. While the UAE increased its …

It is easy to lose sight of the wood for the trees sometimes in the complex world of global oil. And perhaps no subject in that world involves so many different intricate moving parts as the extraordinary relationship between the Federal Government of Iraq (FGI), based in Baghdad, and the …

Iraq’s oil exports to the US dwindled to approximately seven million barrels in July, a moderate decline from June’s tally, data by the US Energy Information Administration (EIA) showed this weekend. The data showed that the average daily volume of Iraq’s crude oil exports during July was pegged at around …

A senior Iranian businessman says a recent deal between Iran and Iraq to swap Iranian gas and electricity for Iraqi crude oil and mazut will benefit Iran and will remove hurdles created by the US in energy trade between them. “With this agreement with Iraq for the barter of oil …

The U.S. Energy Information Administration announced on Sunday an increase in Iraq’s oil exports to the United States, surpassing Saudi Arabia’s exports during the past week. According to the agency’s data, the average U.S. crude oil imports from eight major countries reached 5.487 million barrels per day, decreasing by 770 …

Global crude oil prices witnessed significant gains, driven by a scarcity of supply following cuts by Saudi Arabia and OPEC countries. Basra crude increases in its last session on Friday, contributing to a bullish trend in the market. The Basra Heavy crude closed at $81.79 per barrel in its last …

The State Oil Marketing Organization (SOMO) has reported that Iraq exported more than one billion dollars’ worth of three petroleum products during the first quarter of 2023. According to a table released by SOMO, Iraq exported three petroleum derivatives totaling $1,113,220,043, with a quantity of two million, six hundred thirty-six …