Tag Archives: SHAFAQ News

Iraqi Minister of Oil, Ihssan Abdul-Jabbar, considered setting a price of 80$ US/oil barrel suitable for Iraq to meet the federal budget’s expenditures. Abdul-Jabbar said in an interview with Shafaq News agency, “Iraq will export in 2021 about one billion and 100 million barrels of crude oil according to market …

The Iraqi Oil Minister, Ihssan Abdul-Jabbar said on Saturday that the country does not have significant losses in investing its joint fields with neighboring countries. Abdul-Jabbar said exclusively to Shafaq News Agency that “there is a committee for joint fields with Kuwait and Iran regarding joint oil fields with them,” …

The price of OPEC basket of thirteen crudes rose at $56.80 a barrel on Wednesday, compared with $55.13 the previous day, according to OPEC Secretariat calculations. Experts said OPEC rising prices are affected by Brent and US crude oil which also rose today hitting their highest in about a year …

The Energy Information Administration (EIA) Data showed, on Saturday, that Iraq’s export oil to the United States increased to 115 thousand bpd. EIA stated in a report, “The United States oil exports recorded 4.616 bpd in the third week of January.” The top three source countries of U.S. import oil …

The Energy Information Administration (EIA) Data showed, on Saturday, that Iraq’s export oil to the United States increased to 91 thousand bpd after recording zero. EIA stated in a report, “The United States oil exports recorded 5.541 bpd in the first week of January.” The top three source countries of …

An Iraqi official stated that Washington has extended the exemption granted to Iraq from the sanctions imposed on Iran in the energy field for an additional three months. He pointed out, according to Agence France-Presse, “this new exemption, which is longer than all previous exemptions, is the result of long …

Oil gained more ground on Wednesday as a U.S. COVID-19 fiscal aid package and a decline in crude oil inventories lifted prices, Reuters reported. Brent crude futures rose 19 cents, or 0.4%, to $51.28 a barrel, by 0255 GMT and U.S. West Texas Intermediate (WTI) crude rose 29 cents, or …

Iraq aims to increase crude oil export capacity from its southern ports to 6 million barrels per day from the current 3.5 million barrels a day capacity, Karim Hattab, deputy oil minister for distribution affairs said in a statement. Hattab said the increased capacity would be after 2023 and that …

OPEC announced, on Tuesday, that Iraq is the country that has reduced its oil production the most, while Libya was the most productive country in the organization in November 2020. The organization said in its monthly report, “total OPEC-13 crude oil production averaged 25.11 million barrels per day in November …

The Iraqi Ministry of Oil announced on Sunday that the meeting and the celebration marking the establishment of OPEC and OPEC + would be postponed until next February, after positive developments regarding the COVID-19 vaccine. “The ministry decided to postpone the meeting and the celebration marking the 60th anniversary of …