Tag Archives: Iraqi News

The Iraqi Ministry of Oil said on Friday that Iraq has reduced its oil production to 3.3 million barrels per day in line with its commitment to the OPEC+ agreement. The Oil Ministry clarified in a statement that the current reduction will continue over the coming months to ensure that …

Recently, a delegation from the Russian oil corporation Lukoil visited Baghdad to meet with Iraqi Prime Minister Mohammed Shia Al-Sudani to discuss matters about the company’s activities in the country. Lukoil gave a thorough update on their current activities in Iraq’s West Qurna 2 and Eridu oil fields, emphasizing the …

Petroleum giant Petrobras announced Thursday the discovery of natural gas deposits in Colombia that could double the South American country’s known reserves even as it seeks to transition away from hydrocarbons. But it also coincides with a government drive to stop extracting fossil fuels as it transitions to a low-carbon …

A report issued on Friday by S&P Global Commodity Insights revealed that oil companies operating in the Kurdistan region of Iraq increased their oil production despite the closure of the Iraq-Turkey oil pipeline. Financial statements of five oil firms operating in Iraqi Kurdistan demonstrate that their combined crude oil output …

The Organization of Petroleum Exporting Countries (OPEC) said on Thursday that it received updated compensation plans from Iraq and Kazakhstan for their overproduced volumes for the first seven months of 2024. According to assessments made by independent sources, OPEC said that Iraq overproduced 1.44 million barrels per day from January …

Sources in the Indian oil sector revealed that in June, the country’s oil imports from Iraq dropped to their lowest points since September 2020. According to Shafaq News, Indian refineries have already reduced their imports of oil from several Middle Eastern producers that raised prices early this year. The Iraqi …

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. …

Slowing demand growth and rising US crude production will make it more difficult for OPEC+ to continue to prop up prices, the IEA said on Thursday. The OPEC+ cartel, led by Saudi Arabia and Russia, has been restraining production to maintain prices but the latter have recently slumped due to …

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, …

According to Iraq’s Oil Minister Hayyan Abdul-Ghani, a $27 billion agreement between Iraq and France’s TotalEnergies inked in July 2023 will generate almost 600 million cubic feet per day (mcf/d) of gas, enough to fuel power plants with a capacity of 5,000 megawatts (MW). According to recent statements made by …