Thursday , April 26 2018
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Iraq

Iraq could transport up to 1 m bpd via Jordan’s Red Sea port

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BAGHDAD: Iraq Opec’s second-largest producer, could transport up to a million barrels of oil per day through Jordan once work begins on a pipeline linking crude from southern Iraq to the kingdom’s Red Sea port city of Aqaba. “That project is still in place and we’re going to go ahead with it. We need another outlet for our crude oil,” ... Read More »

Iraq’s oil exports rise by 11% in March

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BAGHDAD: Iraq’s oil exports rose by 11.5 per cent on an annual basis in March to 107.05 million barrels. The Iraqi Oil Ministry said on Sunday that the value of its oil exports last month amounted to $ 6.4 billion. The Iraqi oil exports reached in last February about 95,940,000 barrels. The ministry spokesman Asem Jihad said in a statement ... Read More »

Economic Integration and Political Reconciliation in Iraq

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BAGHDAD: Iraq and the Levant’s (ISIL) control over territory in Iraq has crumbled.1 Yet the fate of Iraq’s religious minorities remains unclear. When it was in control, ISIL treated all populations under its rule with great brutality, but the jihadist group specifically targeted Iraq’s Christian and Yazidi communities for enslavement and violence, leading to widespread death and displacement among these two ... Read More »

Iraq launches airstrikes on ISIS positions in Syria

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BAGHDAD: Iraq has officially launched air strikes on Islamic State of Iraq and Syria (ISIS) strongholds in Syria on Thursday. According to Russia Today, strikes were launched in coordination with the Syrian government. “According to the orders of the commander-in-chief of the armed forces, Dr. Haider Al-Abadi, our heroic air force carried out, on Thursday, in Syria near Iraqi border deadly air strikes against Daesh’s Terrorists gangs,” Iraqi Prime Minister’s office tweeted on ... Read More »

Central bank of Iraq auctions $121,787,000 on 18 April 2018

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BAGHDAD: The Central Bank of Iraq (CBI) currency auction on April 18 registered $121,787,000 in sales, a -11.08% volume decline from the US $136,965,000 sold by Iraqi Dinar, credit and transfer at the previous auction held on April 17. The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on April ... Read More »

One killed in car bomb targeting Iraq election candidate

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BAGHDAD: A car bomb attack targeted an election candidate in Iraq’s contested Kirkuk city today, killing one person and wounding 11, a security official said. The blast in the multi-ethnic city, some 250 kilometres (155 miles) north of Baghdad, came as war-torn Iraq gears up for legislative elections on May 12. “A civilian was killed and 11 people were injured, including three bodyguards, in the convoy of Ammar ... Read More »

Iraqi shia militia smuggles oil into Iran

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BAGHDAD: The Hashd al-Shaabi paramilitary organization in Iraq is smuggling crude from fields around Kirkuk to Iran, an Iraqi MP told Kurdistan 24, a local news outlet. The Shia organization is backed by the Iranian government. According to the MP, Ashwaq Jaff, the Hashd al-Shaabi is using the money it gets for the oil to strengthen its positions in Iraq while the ... Read More »

Iraq exports hit infrastructure ceiling

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BAGHDAD:  Iraq is being forced to limit its oil exports due to extensive delays in maintaining and upgrading outdated infrastructure in Basra. As the country tries to sustain near-record export levels, some pipelines simply cannot handle the pressure and have begun leaking. Iraq Oil Report has directly observed the resulting oil slicks in the Basra Gulf, which are also visible ... Read More »

Iraq shortlists five companies for critical Basrah oil fields

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BAGHDAD: Iraq has shortlisted five engineering companies to bid for the first phase of a critical water-injection project that will help it boost long-term production from its southern oil fields, the director general of the state-run Basrah Oil Company told reporters Saturday. “There are five international companies that are competing to win the project,” Ihsan Abduljabbar Ismaael said, adding that ... Read More »

Iraq considers oil export options

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BAGHDAD: Iraq, despite many security and economic problems, has witnessed major success in some aspects of its energy sector. Oil exports have risen from less than 1m barrels a day in 2003 to around 3.5m b/d at the end of 2017. The problem is that for most of this period, the overwhelming volumes of exports were through Basra in the ... Read More »

Iraq’s economy to see 1.5 percent growth in 2018

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BAGHDAD: 2018 is likely to be Iraq’s lucky year, as its economy is expected to witness a boost amid reconstruction efforts. The Iraqi economy is forecast to grow 1.5% in 2018 before accelerating 4.5% in 2019, BMI Research, a unit of rating agency Fitch, said in a report. “The Iraqi economy will experience a muted recovery in 2018, before picking ... Read More »

Iraq’s oil exports from southern ports 3.45m in March

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BAGHDAD: Iraq exported 3.453 million barrels per day (bpd) of crude oil from its southern ports in March, slightly above the February average, the oil ministry said on Sunday. Iraq’s exports from the ports, managed by the central government in Baghdad, averaged 3.426 million bpd in February, down from 3.49 million bpd in January.  The semi-autonomous Kurdistan region exports about ... Read More »

Iraq plans to boost its oil-exporting capacity

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BAGHDAD: Iraq is reportedly ramping up efforts to expand its capacity to pump and export oil through building a processing facility that will double output at the Majnoon field to 450,000 bpd. Ihsan Abdul Jabbar, the director-general of state-run Basra Oil Company, told Bloomberg that Iraq is seeking bids from six companies for the $4-billion project to inject seawater into ... Read More »

Iraq could overtake Saudi Arabia as top crude supplier to India

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BAGHDAD: Iraq could overtake Saudi Arabia as the biggest crude oil supplier to India in the current fiscal year ending March 31 as an attractive Basrah crude price and Riyadh’s strong commitment to the OPEC production cut agreement pave the way for Baghdad to boost its market share in South Asia. India, the world’s third-largest crude importer, bought 38.9 million ... Read More »

Iraq may build oil storage in Japan, S Korea

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BAGHDAD: Iraq is studying the possibility of building crude oil storage facilities in South Korea and Japan as part of a plan to increase sales to Asian clients, the head of the Iraqi state-oil marketer SOMO, Alaa al-Yasiri, said yesterday. “SOMO’s new strategy is to form trade arms in Asian markets to maximise profits and boost crude shipments to Asian ... Read More »

Iraq could overtake Saudi Arabia as top crude supplier to India

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BAGHDAD: Iraq could overtake Saudi Arabia as the biggest crude oil supplier to India in the current fiscal year ending March 31 as an attractive Basrah crude price and Riyadh’s strong commitment to the OPEC production cut agreement pave the way for Baghdad to boost its market share in South Asia. India, the world’s third-largest crude importer, bought 38.9 million ... Read More »

Iraq’s southern oil exports fall for third month in March

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BAGHDAD: Oil exports from southern Iraq have fallen by 70,000 barrels per day this month, according to shipping data and an industry source, suggesting OPEC’s second-largest producer is heading for a third month of lower shipments. Southern Iraqi exports in the first 21 days of March averaged about 3.36 million bpd, compared to 3.43 million bpd in February, shipping data ... Read More »

Iraq’s southern oil exports fall for third month in March

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BAGHDAD:Oil exports from southern Iraq have fallen by 70,000 barrels per day (bpd) this month, according to shipping data and an industry source, suggesting OPEC’s second-largest producer is heading for a third month of lower shipments Southern Iraqi exports in the first 21 days of March averaged about 3.36 million bpd, compared to 3.43 million bpd in February, shipping data ... Read More »

oil exports for February exceed 95.940m barrels in final count

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BAGHDAD: Iraq’s oil exports for February exceeded 95.940 million barrels, with revenues suprasing USD5.762 billion, the oil ministry announced in a final statistic. Ministry spokesman Assem Jihad said in a statement that, based on a fina statistic released by the state oil marketing firm, SOMO, crude oil exports stood at 95.940.404 barrels. Jihad said revenues from those exports stood at ... Read More »

Offers to Iraq tender underline competitiveness of Australian wheat

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BAGHDAD: Iraq was offered Australian wheat as low as $306 per tonne, on a cost and freight basis, with other 50,000-tonne cargos from the origin priced at $309.95, $313.50, $318 and $340.48 per tonne. All but one of the offers undercut US cargos tendered to Iraq, and which were priced at $332.17, $337.00 and $364.05 per tonne. While no offers ... Read More »