Post Tagged with: "iraq"

Source: Reuters

Iraq considering buying Exxon stake in West Qurna 1 oilfield – oil minister

Reuters


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 …

Energy transition risks political strife in oil-producing states: report

Energy transition risks political strife in oil-producing states: report

Reuters


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 …

Source: Reuters

Exclusive: Iraq cuts crude oil supplies for most Indian refiners in 2021 – sources

Reuters


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 …

January 21, 2021 - 11:00 am Closing Bell Story‎, Crude Oil News, Downstream, Energy News
Source: Reuters

Saudi Arabia and Russia in tight race to become China’s top oil supplier in 2020

Reuters


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 …

Source: Reuters

OPEC oil output rises more on Libya restart, Iraq – Reuters survey

Reuters


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 …

October 30, 2020 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Gulf OPEC, Iraq question whether to keep deep oil cuts into 2021 – sources

Reuters


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 …

Source: Reuters

Iraq seeks exemption from OPEC export cut deal next year

Reuters


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.…

Source: Reuters

Iraq lowers June oil exports, still pumps above OPEC+ target

Reuters


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 …

Breakeven crude oil prices are one metric of the economic constraints facing OPEC+ members

Breakeven crude oil prices are one metric of the economic constraints facing OPEC+ members

EIA


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

Source: Reuters

OPEC+ to meet Saturday on extending cuts, pushing for compliance

Reuters


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+ …

Source: Reuters

Shell evacuates foreign staff from Iraq’s Basra Gas project: executives

Reuters


BASRA, Iraq – Royal Dutch Shell (RDSa.L) evacuated some 60 foreign staff from Iraq’s Basra Gas Company as a security measure following a protest over delayed pay, company officials said on Thursday, adding production was unaffected.

The …

Source: Reuters

Iraq emerging as OPEC’s main laggard in making record output cut: sources

Reuters


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 …

Source: Reuters

Saudi Arabia, Iraq say they won’t compensate for oil freight rate jump: documents

Reuters


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.…

Source: Houston Chronicle

Iraq Oil Supplies Vulnerable as Mideast Tensions Flare, IEA Says

Houston Chronicle


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 …

Source: CNBC

Trump threatens to slap sanctions on Iraq ‘like they’ve never seen before’

CNBC


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 …

Source; Houston Chronicle

If OPEC+ announces a new cut, it may not be what it seems

Houston Chronicle


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 …

Photo: Eddie Seal

Weatherford lands three contracts in Iraq

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 …

October 9, 2019 - 11:30 am Closing Bell Story‎, International, Oilfield Services
Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

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 Says it Expects Tanker Held by U.K. to Be Released Soon

Iran Says it Expects Tanker Held by U.K. to Be Released Soon

From The Houston Chronicle


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 …

Oil Falls 3% as Trade War Concerns Hit Demand Outlook

Oil Falls 3% as Trade War Concerns Hit Demand Outlook

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.…

Oil Prices Could Crash by $30 if China Buys Iranian Crude: BofA

Oil Prices Could Crash by $30 if China Buys Iranian Crude: BofA

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 …

Source: research.archives.gov

Rocket Hits Site of Foreign Oil Firms Exxon, Shell, Eni in Iraq’s Basra, Three Hurt

Three Iraqi workers wounded as rocket lands on headquarters of several major companies in latest oil attack

From Al Jazeera

A rocket landed at the headquarters of several global oil companies in Iraq’s southern city of Basra on Wednesday, wounding …

Exxon Mobil Staff Evacuation from Iraq ‘Unacceptable’: Oil Minister

Exxon Mobil Staff Evacuation from Iraq ‘Unacceptable’: Oil Minister

60 foreign employees were reportedly evacuated from West Qurna 1 oilfield

From Oil and Gas Middle East

Iraq’s Oil Minister Thamir Ghadhban has called the evacuation of Exxon Mobil staff from the nation “unacceptable and unjustified,” according to Reuters. He …

May 20, 2019 - 3:23 pm Closing Bell Story‎, Energy News, International
Two Saudi Oil Tankers, Norwegian Ship Apparently Attacked near the Persian Gulf

Two Saudi Oil Tankers, Norwegian Ship Apparently Attacked near the Persian Gulf

The latest U.S. State Department advisory simply warned: “Do not travel to Iraq”

From the Washington Post

BEIRUT — Two Saudi Arabian oil tankers and a Norwegian ship were damaged over the weekend near the Persian Gulf in what Saudi …

Source: Iraqenergy.org

Iraq Will Deliver Third-Biggest Chunk of New Oil Over Next Decade, IEA Says

From Bloomberg

Iraq will be the third-biggest provider of new oil supplies over the next decade, boosting its production by almost 30 percent, according to the International Energy Agency.

The OPEC member will raise output to almost 6 million barrels …

April 26, 2019 - 12:24 pm Closing Bell Story‎, Crude Oil News, Energy News
Dana Gas Iraq Operations

Iraq Is Finally Pumping Enough Oil to Flex Its Muscles in OPEC

From Bloomberg

Yamani, al-Naimi, al-Falih. These three men, all Saudi Arabian energy ministers, moved global oil markets for the past 50 years, sometimes with just an utterance. But the kingdom may be about to lose some of its power. Lurking …

April 10, 2019 - 4:05 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Iran Signs New Trade, Energy Deals with Iraq

Iran Signs New Trade, Energy Deals with Iraq

Agreements reinforce the close connections between the two majority Shia countries

From Irish Times

Iranian president Hassan Rouhani will conclude his first official visit to Iraq on Wednesday after signing agreements on energy, trade and the construction of a railway …

March 14, 2019 - 6:26 am Closing Bell Story‎, OPEC, Politics & Opinions, Trade
Iraq ‘Not Obliged’ to Abide by U.S. Sanctions on Iran: Foreign Minister

Iraq ‘Not Obliged’ to Abide by U.S. Sanctions on Iran: Foreign Minister

From Middle East Eye Agency

Iraq’s foreign minister has said that his country is “not obliged” to abide by sanctions imposed by the US against Iran and would be pursuing options to continue trade.

On 20 December, the US granted …

January 3, 2019 - 12:58 pm Closing Bell Story‎, Energy News, International, LNG, Trade
Dana Gas Iraq Operations

U.S. Grants Iraq Sanctions Relief in Bid to Boost Business Deals

From The Wall Street Journal

The Trump administration has given Iraq permission to buy Iranian natural gas without penalty for at least three more months, after pledges from Baghdad to buy American oil and energy technology, U.S. and Iraqi officials …

December 21, 2018 - 12:24 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Iraqenergy.org

Iraq Oil Production to be ‘Squeezed for Next Decade’

From Arab News

The state-run company responsible for oil projects in mid-stream had “a spotty execution track record”

LONDON: Growth in Iraqi oil production will be squeezed for the next decade despite the country being the second largest OPEC producer …