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 Iraq oil

"Oil companies are expected to keep developing enough oil to offset oil depletion and also to meet new demand...So where is this oil going to come from? Governments and national oil companies are obviously in control of 90 percent of the assets... The Middle East with two-thirds of the world's oil and the lowest cost is still where the prize ultimately lies."
Dick Cheney, then-CEO of Halliburton, fall of 1999
Iraq Oil Infrastructure Map

Iraq Oil Infrastructure Map

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updated Sun. April 1, 2018

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ERBIL, Kurdistan Region (Kurdistan 24) - Iraq will grant new oil and gas exploration and development contracts in 11 blocks later this month, Iraqi Oil Ministry spokesperson Asim Jihad said on Sunday. Bids for the new blocks, located in areas along bordering countries Iran and Kuwait, as well as offshore Gulf waters, ... companies

Iraq plans to award oil and gas exploration and development contracts in 11 new blocks on April 15, oil ministry spokesman Asim Jihad said on Sunday. Iraq had initially set June 21 as the date to open the bids for the new blocks, located in border areas with Iran and Kuwait, and in offshore Gulf waters.
Iraq's crude oil reserves may turn out to be much higher than believed, the country's oil minister Jabar al-Luaibi said at a recent industry event, timing the statement with news that it will pay foreign companies less in new contracts. Last year, Iraq updated the estimate for its proven reserves to 153 ...
Iraq will be looking to award service contracts on the same day of the bidding round to companies to develop onshore and offshore oil and gas fields along Iraq's borders with Kuwait and Iran, Bloomberg quoted Abdul Mahdy Al-Ameedi, the Iraqi Oil Ministry's director-general for upstream oil ...

Exxon Mobil Corp., Total SA and Lukoil PJSC are among international companies interested to win rights to develop 11 oil and gas border fields as OPEC's number two producer continues to build production capacity. Iraq plans to hold a bidding round on April 15 and award service contracts the same ...
ERBIL, Kurdistan Region (Kurdistan 24) – Iraq's Interior Ministry on Sunday said it had foiled an attempt by thieves planning to steal equipment from the country's largest oil refinery, the Baiji refinery. In an official statement following the incident, the Iraqi Interior Ministry said the country's security forces were able to “thwart ...
Iraq's Oil Ministry is still involved in high-level talks with Kurdish regional energy officials to reach a deal on resuming Kirkuk's oilfields exports to Ceyhan through the Kurdish-controlled pipeline, said al-Yasiri. “We clarified to the Kurds that the pipeline which links the Kirkuk to the Ceyhan pipeline must come ...
When it comes to the 2003 U.S. invasion of Iraq, rumors have circulated since the early months of the conflict that Washington's original name for the war was “Operation Iraqi Liberation.” After the war's architects realized that name produced the embarrassing acronym “OIL,” they quickly changed the official ...
Historically, the law forming the Iraq National Oil Company was first issued in 1964 in order to develop oil production from exploration and drilling for oil and natural hydrocarbons to the manufacturing of products. Oil was nationalized in 1972, and foreign company investing was excluded. In April 1987, Iraq ...
At an investment conference on rebuilding Iraq, Oil Minister Jabbar al-Luiebi said last month that the country needed US$4 billion worth of investments in the downstream. That investment is planned to raise Iraq's refining capacity to 1.5 million bpd by 2021, of which 500,000 bpd would be exported, ...
The North African country, where militants disrupted oil production for months just a year ago, is now closing in on Saudi Arabia as the third-biggest source of seaborne supply to Europe after Iraq and Russia, the International Energy Agency (IEA) said Thursday. Even as the U.S. is reviving its own oil ...
The Islamic State (IS) appears to be staging a comeback in parts of Iraq, which could endanger the country's oil deal with Iran. Hamid Hosseini, the Iranian secretary-general of the Iran-Iraq Chamber of Commerce, warned in late February that the countries' plan can't be implemented fully because of ...
The budget, passed by Parliament on Saturday, troubles the IMF for two reasons: not only does it allocate just 6.6 trillion Iraqi dinars ($5.6 billion*) to the Kurdistan Regional Government (KRG) - a steep cut compared to previous years – but it also lowers taxes and reduces the government's non-oil revenue.

The statement added that no revenues were recorded from Kirkuk oil fields as activity remains halted since Iraqi forces took over the province's facilities from Kurdish forces responding to a September referendum held by Kurdistan Region in which a majority voted for independence from Iraq. Iraq is the ...
A Baghdad court has convicted the sister of the former leader of al Qaeda in Iraq who was killed in 2010 and sentenced her to death on terrorism charges, a spokesman said Thursday. The spokesman of Iraq's Supreme Judicial Council, Abdul-Sattar Bayrkdar, said in a statement that Abu Omar ...
"We are aware of US crude coming to Asia ... we know," Shatari said, adding that the company is especially focused on Latin American crude oil selling into Asia as Basrah Light and Basrah Heavy could directly compete with heavy sweet and sour grades from Venezuela and Brazil due to the similarity in ...
Whenever the media office of the Council of Ministers releases decisions of the Cabinet, Iraq Oil Report publishes a translation from the original Arabic. Iraqi Cabinet decisions: Mar. 6, 2018. Iraq's Council of Ministers meets in Baghdad on Mar. 6, 2018. (Source: Iraqi Cabinet media office). By Staff of Iraq Oil ...
Iraq plans to launch a new Basrah Medium crude export grade in a bid to help stabilize the quality of its existing Basrah Heavy and Light export grades as more ... Last week, the country's oil ministry had said that federal crude oil exports from Iraq 's southern Persian Gulf terminals fell to 3.426 million b/d in ...
Fresh sod had been carefully mowed in the new stadium. Special trains carried thousands of fans on the 10-hour journey from Baghdad. Intelligence agents had even coached the team's official cheerleader to make the visiting team feel welcome. But when the Iraqi national soccer team played its first home ...
BAGHDAD - Iraq's Parliament voted Monday to bring back the Iraq National Oil Company (INOC), three decades after it was subsumed by the Oil Ministry in a power move by Saddam Hussein. If implemented, the law could fundamentally restructure Iraq's oil sector: INOC is slated to take over key ...
Iraq's oil production could begin to rise after a tentative deal was agreed to by the Kurdish Regional Government and the central government in Baghdad. The two sides reached an accord that is expected to lead to the restart of oil flows through a Kurdish pipeline to Turkey, which has been shut down since ...
Iraq is hoping to lure international investors to help develop its oil and gas industry. With victory declared over fighters from Islamic State of Iraq and the Levant (ISIL, also known as ISIS), government ministers are meeting oil executives in Berlin, Germany to discuss how to exploit its vast reserves.
Iraq and the semi-autonomous region of Kurdistan are close to settling their dispute over oil exports and oil revenue sharing, according to an Iraqi oil ministry official. Exports from Kirkuk were halted after Iraq's federal army regained control over the oil fields in the area. Baghdad—which never recognized ...
Iraq aims to reduce its oil product imports by 25 percent as it is seeking to refurbish and restart oil refineries after it expelled ISIS from its territory, Iraq's Oil Ministry said on Monday, without giving a timeline for that 25-percent import reduction. Iraq, OPEC's second-largest oil producer, is adding more ...
Iraq's oil production could begin to rise after a tentative deal was agreed to by the Kurdish Regional Government and the central government in Baghdad. The two sides reached an accord that is expected to lead to the restart of oil flows through a Kurdish pipeline to Turkey, which has been shut down since ...
Shipments of Kirkuk crude oil to Iran under an oil swap deal will begin in two weeks, Alaa al-Yasiri, head of Iraq's oil marketing company SOMO has said, adding that the initial flow to Iran will be 30,000 bpd. Separately, the SOMO boss said, Baghdad could restart the flow of north Iraqi crude to Turkey ...
Yesterday in Kuwait, international donors pledged US$30 billion to help rebuild Iraq. But it's unclear whether any of this support will reach one of the most marginalized segments of the population – families of suspected Islamic State (ISIS) members, many of whom joined the extremist group because of ...
Yesterday, I discussed how I think a policy of pushing back on Iran should be applied in Syria, where I believe the United States needs to go on the offensive against Iran. Today, I want to look next door, at Iraq. As in Syria, Iran has important vulnerabilities in Iraq, but it also has considerable strength there.
To understand the plundering of Iraq's oil wealth, we have to look first at the original sin of the invasion itself. Blueprints showing how oil could help rebuild the country were drawn up post-Desert Storm in the 1990s and resurrected in 2003. It never happened. Journalist Erin Banco explains why, as she talks ...
ERBIL, Kurdistan Region — Iraqi Oil Minister Jabbar al-Luaibi announced that Iraq wants to increase its oil production to 7 million barrels per day. The minister ... The federal government plans to reach 7 million bpd by 2022,” Jabbar al-Luaibi, the Iraqi oil minister, told journalists in Kuwait on Wednesday.
WASHINGTON - Since 2008 Iraqi oil production has grown by more more than 2 million barrels a day, a rate of growth only exceeded by the United States. A nation of easy-to-access oil has made for boom times for companies like Exxon Mobil, BP, and Shell. But the oil industry in Iraq faces an uncertain ...
During the Saddam Hussein era, Jordan received Iraqi oil at a discount price. The crude was trucked across the border en route to Zarqa. Even in those days there was talk of a crude oil pipeline being built to link the two countries. In 2013, a detailed agreement was signed that envisaged a pipeline running ...
Iraqi oil exports fell slightly in January, but state revenues continued to climb due to strong oil prices. The country exported a total of 3.758 million barrels per day (bpd), down from 3.854 million bpd in December, according to Iraq Oil Report estimates of combined oil sales by the federal government and the ...
LONDON (Alliance News) - Iraq-focused oil & gas company Genel Energy PLC said on Wednesday that Taq Taq oil reserves and Miran West ... For the Taq Taq field, a report updated by McDaniel & Associates reduced its estimate for proven and probable oil reserves as at the end of 2017 to 54.7 million ...
We recently discussed Iraqi flows to the U.S., and how they continue to exhibit strength. Iraqi flows to the U.S. last year averaged just under 600,000 bpd, up a third from 2016's volume. While January deliveries were robust, clambering above 700,000 bpd, they were even more impressive to Asia, rising to a ...
Iraq's oil minister says Baghdad has asked British energy giant BP to draft a study on boosting production in the Kirkuk oil fields in Iraq's Kurdistan region that were reclaimed by Baghdad late last year. Oil Minister Jabbar al-Luaybi told the AFP news agency on February 11 that he hoped to discuss the ...
The Iraqi oil ministry said Thursday it has approved plans for the construction of a new crude oil refinery in the country, with the capacity to process 70,000 barrels per day (BPD) of crude, Kallanish Energy learns. Minister Jabar al-Luaibi signed a contract agreement with Ranya International Co., a company ...
Inside a container that served as his home in the Debaga refugee camp outside Erbil in Iraqi Kurdistan, Ahmed Qusai scooped up his son from a mattress on the concrete floor and kissed him on the cheek. Qusai used to be an oil worker in Qayyarah, a once energy-rich town about 45 miles south of Mosul in ...
During the visit, the sides are expected to discuss the situation surrounding Russian oil major Rosneft's contracts signed with the government of the Iraqi Kurdistan. According to the diplomat, the sides maintain a regular dialogue on the issue. "There are talks, discussions going on to resolve [the issue]," he ...
After 15 years of repudiating claims that the invasion of Iraq was only initiated to seize Iraqi resources, large oil corporations fronted by former architects of the war who vacated to the private sector are flagrantly advertising their contracts for exploration and production of Iraqi oil fields to potential investors.
After Iraq took control over those fields, there was an interruption in oil exports through the Kurdish pipeline to Turkey, helping to push up global oil prices last October. The dispute seemed to wake up the oil market to the prospect of geopolitical risk, a factor that had been largely overlooked by the market ...
It is both the best and worst of times for the current Iraqi oil market. Iraqi oil minister Jabbar al-Luaibi said this week that Iraqi oil fields in the south of the country had recorded an 'unprecedented' surge in daily exports from Basrah during the last month. All the while, loadings in Ceyhan, Turkey, of crude from ...
Civilian casualties from violent attacks in Iraq fell by 45% in December compared to the previous month, according to the United Nations. The figures released by UNAMI show that a total of 69 civilians were killed and 142 injured across Iraq, although casualties in Anbar could not be verified.
The companies hope that the MoU will facilitate socio-economic development in the Basra region of Iraq, where a high proportion of Iraq's oil production occurs. Commenting on the MoU, David Zelinski, Jacobs Petroleum and Chemicals Senior Vice President and General Manager for the Middle East, said: ...
Baghdad (IraqiNews.com) Iraq's oil minister Jabbar al-Luaibi said Wednesday that oil fields in the south of the country have recorded an “unprecedented” surge in daily exports during the last month. In a letter to Prime Minister Haider al-Luaibi, quoted by the ministry's Facebook page, Luaibi pointed to “an ...
Whenever the media office of the Council of Ministers releases decisions of the Cabinet, Iraq Oil Report publishes a translation from the original Arabic. Iraqi Cabinet decisions: Jan. 2, 2018. Iraq's Council of Ministers meets in Baghdad on Jan. 2, 2018. (Source: Iraqi Cabinet media office). By Staff of Iraq Oil ...


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