Tag Archives: SHAFAQ News

The price of Basra crudes has experienced a slight increase as the week concluded with Saudi Arabia and Russia, the world’s leading oil suppliers, announcing further cutbacks in their oil production. Basra Heavy crude witnessed a marginal rise as the final session closed yesterday, up by 48 cents, to settle …

Iraq’s oil production may be impacted by a recent agreement to pay for Iranian gas imports through a barter deal involving fuel oil and crude oil from Baghdad, according to a state oil marketing company SOMO source. Iraqi Prime Minister Muhammad al-Sudani announced the deal to solve difficulties in paying …

Iran’s natural gas exports to Iraq exceeded 9 billion cubic meters in 2022, according to the International Energy Institute. In a report released today, the official Iranian news agency IRNA stated that the country’s natural gas exports reached approximately 19 billion cubic meters last year, representing a growth rate of …

Iraq’s SOMO, the state-owned oil marketing company, has announced that the average price of crude oil exported to Jordan reached $58.70 per barrel during the month of June. With this, Iraq sold each barrel of crude oil to Jordan last month at a price that was $12.41 lower than the …

The Energy Information Administration (EIA) announced on Sunday that Iraq’s oil exports to the United States reached 7.5 million barrels in the previous month of June. A table published by the administration revealed that Iraq exported 7.5 million barrels of crude oil to the United States during the month of …

U.S. Energy Information Administration (EIA) has reported a dramatic upswing in its weekly crude oil imports from Iraq, with the volumes doubling over the last week. According to EIA’s compiled data, the average daily import of crude oil from nine primary exporting nations surged to 5.709 million barrels. This represents …

The Energy Information Administration (EIA) announced on Sunday that Iraqi oil exports to the United States have surpassed 250,000 barrels per day, establishing Iraq as America’s fourth-largest source of oil in the past week. In a report, the administration stated, “The average U.S. imports of crude oil from eight countries …

Iraq is negotiating with Turkey to resume pumping oil exports from the Kurdistan region, confirmed by Iraqi Oil Minister Hayan Abdul-Ghani on Friday. He also emphasized that the OPEC+ coalition is committed to making decisions that achieve balance in the oil market and serve the interests of consumers, producers, and …

Iraq has slipped one spot to the 14th position in the ranking of countries with the lowest petrol prices, the latest data from Global Petrol Prices, a prominent international resource tracking fuel costs, showed this weekend. The website’s May 2023 report revealed that Iraq’s descent was prompted by a slight …

Iraq’s oil exports to the United States have seen a marked contraction, dropping to an average of 136,000 barrels per day (bpd) in the preceding week, data from the US Energy Information Administration (EIA) showed on the weekend. This echoed a trend in the United States’ broader crude oil intake …