Tag Archives: SHAFAQ News

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 …

Jordan and Iraq on Saturday agreed to extend the memorandum of understanding (MoU) under which the Kingdom imports Iraqi Kirkuk crude oil with a daily average of 10,000 barrels delivered to the Jordan Petroleum Refinery in Zarqa. Assistant for energy affairs at the Energy Ministry Hassan Hiari noted that the …

Global oil prices closed at more than 12% of weekly gains today, Saturday. Brent crude closed in its last session yesterday, Friday, with a rise of 1.62 dollars, to reach 120.65 dollars, and achieved a weekly profit of 12.72 dollars or 11.79%. US West Texas Intermediate crude also closed up …

Global share markets fell on Tuesday as oil prices climbed yet further, driven by the United States banning Russian oil and other energy imports over Moscow’s invasion of Ukraine. U.S. President Joe Biden made the announcement on Tuesday, while Britain said it would phase out imports of Russian oil and …

The Energy Information Administration (EIA) Data showed, on Saturday, that Iraq’s export oil to the United States increased to 285 thousand bpd in the last week. EIA stated in a report, “The United States oil exports recorded 6.114 bpd in the first week of January.” The top three source countries …