Tag Archives: SHAFAQ News

Iraq’s State Oil Marketing Organization (SOMO) has reported a rise in its exports to Jordan for August, with the price of a barrel standing at $70.22. With this price tag, Iraq has offered Jordan a discount of $13.13 per barrel, given that the official selling rate declared by Iraq’s Ministry …

The Indian government has formally called on Iraq to provide further concessions on oil prices, drawing parallels with the low-cost Russian crude that has emerged as India’s primary oil source since May 2022, displacing Iraq from its longstanding position. In a strategic move to diversify their oil imports and curtail …

Basra crude oil prices experienced a week of subtle downturns in response to worldwide market fluctuations. While some benchmarks reflected momentary gains, the overarching trend was marked by a fractional decline, primarily influenced by a blend of economic data and production adjustments. Basra Heavy crude concluded its Friday trading session …

Iraq has signed a preliminary agreement with Turkmenistan to import gas for energy production purposes, oil ministry said on Thursday. “The Iraqi government is committed to amplifying avenues of collaboration with our friendly nations, notably including Turkmenistan,” Deputy Minister of Oil for Gas Affairs, Azat Saber, told Shafaq News Agency, …

The United States emerged as the world’s largest consumer of crude oil in 2022, leading the global rankings, according to recently released statistics from Italian oil company Eni. Eni’s data reveals that the United States claimed the top spot for the world’s largest oil consumer in 2022, with a daily …

Iraq’s crude oil exports to the U.S. has trumped those from Saudi Arabia last week, despite a marginal decline in the rate of supply, data by the Energy Information Administration (EIA) showed on Sunday. Drawing on a recent data chart, the EIA illustrated that the average daily crude oil imports …

Iraq ranked fifth among the world’s top 10 oil-producing countries in 2022, as revealed by Italian oil company Eni. Eni’s data showed that Iraq stood at the fifth spot as a top global oil producer, churning out 4.554 million barrels, with a compound growth rate of 5.4%. This marks an …

The Organization of the Petroleum Exporting Countries (OPEC) revealed on Monday a notable decrease in oil production among its 13 member states during July. The combined output dropped by 836 thousand barrels per day, settling at 27.310 million barrels per day, compared to the previous month of June. According to …

Iraq has secured its position as the fifth-largest country worldwide regarding oil reserves, as stated by the Italian oil corporation Eni. Eni’s data reveals that Iraq has a substantial oil reserve of 145.019 billion barrels for 2022, reflecting a marginal compound growth rate of 0.1%. In 2010, Iraq held 143.100 …

The U.S. Energy Information Administration (EIA) announced on Sunday a substantial increase in Iraq’s oil exports to the United States, reaching 305,000 barrels per day in the past week. According to data provided by the EIA, the average U.S. crude oil imports from eight key countries during the previous week …