OPEC’s second-biggest producer pumped 4.17 MMbpd last month,
LONDON (Reuters) – OPEC oil output fell last month, a Reuters survey found on Monday, reflecting lower exports from Iraq and Nigeria against a backdrop of ongoing voluntary supply cuts by some members agreed with the wider OPEC+ …
LONDON – OPEC oil output fell last month, a Reuters survey found on Monday, reflecting lower exports from Iraq and Nigeria against a backdrop of ongoing voluntary supply cuts by some members agreed with the wider OPEC+ alliance.…
BAGHDAD – Iraq will discuss with Washington this week how to pay dues owed to Russian oil companies despite sanctions, Foreign Minister Fuad Hussein said on Monday.
“We will discuss this problem with the American side. There
An oil spill has forced a shutdown of all crude oil exports from Iraq’s Basra Port, oil sector sources said on Friday, cited by Reuters.
With four tanker berths, the Basra oil terminal can process 3.3 million …
(Bloomberg) — Iraq’s cabinet may reactivate a deal with Halliburton Co. to drill wells in a western gas field in Akkas next month, Oil Minister Ihsan Abdul Jabbar told local media.
An agreement with Halliburton would enable the …
BASRA/LONDON, Feb 14 – A $27-billion deal between France’s TotalEnergies <TTEF.PA> and Iraq, that Baghdad hoped would reverse the exit of oil majors from the country, has stalled amid disputes over terms and risks being scrapped by the country’s …
(Bloomberg) –Halliburton Co. and Exxon Mobil Corp. are in talks over the latter’s attempt to sell a stake in the huge West Qurna-1 oil field in southern Iraq, according to the country’s energy minister.
Iraq wants a U.S. …
BAGHDAD -Iraq is considering buying ExxonMobil’s stake in the southern West Qurna 1 oilfield through the state-owned Basra Oil Company, the country’s oil minister said on Monday.
The oil ministry is discussing BOC “taking ownership of the Exxon stake …
LONDON – The transition towards green energy imperils oil-producing states that have lagged in diversifying their economies, United Kingdom-based risk consultancy Verisk Maplecroft warned in a report on Thursday. “Algeria, Iraq and Nigeria will be among the first casualties …
NEW DELHI – Iraq has reduced annual supplies of Basra crude oil to several Indian refiners by up to 20% for 2021, industry sources said, in a rare move by OPEC’s second-largest producer which is trying to meet its …
SINGAPORE – Saudi Arabia and Russia are in a tight race to become China’s top oil supplier in 2020, with both countries boosting crude exports to the economic powerhouse even as the coronavirus pandemic hit global demand for oil …
LONDON – OPEC oil output has risen for a fourth month in October, a Reuters survey found, as a restart of more Libyan installations and higher Iraqi exports offset full adherence by other members to an OPEC-led supply cut …
DUBAI/BAGHDAD/LONDON – Gulf OPEC producers the United Arab Emirates and Kuwait, as well as Iraq, are debating whether they should roll over existing oil supply cuts into 2021, as they struggle to stick to their agreed reductions, OPEC and …
CAIRO – Iraq is seeking an exemption from an OPEC+ deal curbing oil production during the first quarter of 2021 but will adhere to the cuts over the next three months, Oil Minister Ihsan Abdul Jabbar said on Wednesday.…
LONDON – Iraq’s oil exports have fallen by almost 9% or 310,000 barrels per day (bpd) in June, loading data and industry sources showed, suggesting OPEC’s second-largest producer has delivered about three-fifths of its pledge in an OPEC-led supply …
Oil & Gas 360 Publishers Note: To help understand the OPEC + members, take a look at the breakeven crude oil prices. Breakeven is is the fiscal breakeven, the minimum price that a country needs to receive per barrel …
MOSCOW/DUBAI – OPEC and its allies led by Russia will meet on Saturday to discuss extending record oil production cuts and to push laggards such as Iraq and Nigeria to comply with existing curbs.
The producers known as OPEC+ …
BAGHDAD/LONDON – Iraq has yet to inform its regular oil buyers of cuts to its exports, suggesting it is struggling to fully implement an OPEC deal with Russia and other producers on a record supply cut, traders and industry …
NEW DELHI/SINGAPORE/MOSCOW – Saudi Arabia and Iraq have said they are unable to provide freight rebates for crude oil shipments under default contract terms due to a record rise in tanker rates, documents seen by Reuters showed on Thursday.…
Oil supplies from Iraq, the Middle East’s second-biggest producer, are “potentially vulnerable” amid rising political risks in the country and the broader region, the International Energy Agency warned.
Crude prices briefly soared to a three-month high above $70 …
President Donald Trump threatened Sunday to slap sanctions on Iraq after its parliament passed a resolution calling for the government to expel foreign troops from the country.
Tensions in the Middle East spiraled last week after Trump called for …
Speculation is mounting that OPEC and its allies may agree to a deeper production cut at their meeting in Vienna on Thursday, but market watchers shouldn’t take any such announcement at face value.
Even a sizable “new” cut …
Source: Houston Chronicle
Struggling oilfield service company Weatherford International has landed three contracts in the oil fields of Iraq.
In a statement released Tuesday afternoon, Weartherford reported that the company has been awarded a pair of two-year drilling rig contracts …
From Reuters
Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by optimism surrounding a U.S.-China trade deal.…
Iran expects an oil tanker seized by the U.K. in the Strait of Gibraltar in July will be released soon, the semi-official Fars News agency reported Tuesday, a move that could help to ease concerns about …
From Reuters
Global oil benchmark Brent futures fell more than 3% on Monday on global growth concerns after U.S. President Donald Trump last week threatened China with more tariffs, which could limit crude demand from the world’s two biggest buyers.…
From CNBC
Crude oil prices could sink by as much as $30 a barrel if China decides to buy Iranian crude oil in retaliation to the latest U.S. tariff measures, according to Bank of America Merrill Lynch.
“While we retain …
