Tag Archives: SHAFAQ News

U.S. crude oil imports from Iraq averaged 294 thousand barrels per day (bpd) in May, the Energy Information Administration (EIA) said in its monthly report. According to the report, May imports from Iraq amounted to 9.114 million barrels, up from 5.52 million barrels (average 184 bpd). Iraq’s oil exports to …

U.S. imports of crude oil from Iraq last week averaged 326 thousand barrels per day (bpd), the Energy Information Administration (EIA) said this weekend. In its weekly report on U.S. oil imports, EIA said that the U.S. net oil imports averaged 5.561 million bpd last week, down by 325 thousand …

The Organization of the Petroleum Exporting Countries (OPEC) and allies, including Russia, known as OPEC+, agreed to raise output by 648,000 barrels per day (bpd) in July. According to an OPEC statement, the 29th OPEC and non-OPEC Ministerial Meeting decided to advance the planned production adjustment for September and “redistribute …

The Iraqi Oil Marketing Company “SOMO” announced that the Chinese oil companies are the top buyers of Iraqi oil during April 2022. According to SOMO statistics, 34 international companies bought Iraqi oil the last April. China ranks first with eight companies, followed by India (seven companies), while the USA ranks …

Iraq is redirecting crude flows from its primary customer base in Asia to refineries in Europe — and may soon be able to offer more volumes with the upgrading of a loading port, officials with state marketer SOMO said May 12, as Western countries have sought to wean themselves off …

Iraq’s Minister of Oil, Ihsan Abdul-Jabbar Ismail, dismissed the Kurdistan Regional Government’s management of the oil wealth as “faulty” and wasteful of the Iraqi treasury resources. Ismail’s remarks came during the fourth meeting of the opinion commission on the Supreme Federal Court’s ruling against the KRG’s oil and gas law, …

U.S. imports of crude oil from Iraq averaged 184 thousand barrels per day (bpd) in April, the Energy Information Administration (EIA) said this weekend. According to EIA’s monthly report, April imports from Iraq amounted to 5.52 million barrels, down from 7.13 million barrels (average 230 bpd). Iraq’s oil exports to …

A U.S. Senate panel will consider as soon as next week a bill to open the OPEC oil production group and countries working with it to lawsuits for collusion on boosting petroleum prices, Senator Chuck Grassley’s office said on Thursday. The bill, sponsored by Grassley, a Republican, Senator Amy Klobuchar, …

Iraq collectively grossed more than 10 billion dollars from oil sales in March 2022, according to a survey by the state oil marketer, SOMO. Crude oil exports amounted to 100,579,612 barrels, yielding 10,913,197 dollars, SOMO survey said. Exports from oilfields in Mid and south Iraq amounted to 99,130,677 barrels, while …

At least two Indian refiners plan to buy less Saudi oil than usual in May, after the kingdom raised the official selling price (OSP) to record highs for Asia, two sources said on Wednesday, as India increases purchases of cheap Russian crude. India, the world’s third biggest oil importer and …