The Egyptian General Petroleum Corporation (EGPC) plans to start crude oil production in South Iraq’s Block 9 by the beginning of 2016, …
A witness and military source said Islamic State fighters ignited oil wells in the Ajil oil field northeast of the city of Tikrit. The fires were started in the hopes that …
According to information released by the Energy Information Administration (EIA) today, Iraq’s production growth in 2014 was the second largest in the …
Royal Dutch Shell (ticker: RDSA) signed a deal with Iraq on Wednesday for $11 billion to build a petrochemical plant in the southern oil hub of Basra. Shell has …
Russia set a post-Soviet production record and Iraq exported the most oil since the 1980s in the month of December, according to a report from Bloomberg.
The information, which was acquired from an email by the Russian Energy Ministry, said …
Algeria’s oil minister, Youcef Yousfi, on Sunday called on OPEC to cut production in order to raise oil prices and defend smaller producers in the cartel. The country is struggling to deal …
The Iraqi government agreed on December 2 to an oil export deal with the northern region of Kurdistan, ending a dispute over oil exports with Iraq’s northern region. Earlier this year, the Iraqi government cut off funding to the Kurdish …
The end of October marked a high point in tensions between Iraq and its oil producing Kurdish region in the north.
Roughly two dozen oil tankers idly turned figure eights in the Mediterranean, filled with oil pumped from Kurdish Iraq …
ISIS Loses Oil Production
In the aftermath of last month’s U.S. air strikes that damaged the Islamic State’s (ISIS) captured oil field operations in Syria and Iraq, news outlets have reported that the attacks disrupted the group’s ability to make …
After security concerns in the region prompted a mid-August suspension of operations on its Hawler license in the Kurdistan Region of Iraq, Oryx Petroleum Corporation (ticker: OXC) announced that it has now resumed crude oil production and sales into the …
Reuters reported that both ExxonMobil Corporation (ticker: XOM) and Chevron Corporation (ticker: CVX) evacuated their staffs from Iraqi Kurdistan this morning. The employees of the oil giants join several thousand civilians attempting to escape violent Islamic State terrorists, also known …
Russia and Iraq are giants in the hydrocarbon industry. The two powerhouses were the third and sixth greatest oil producers in 2012, and Iraq’s oil reserves rank fifth in the entire world. Russia’s natural gas reserves are the highest on …
NBC News, Reuters and other media outlets have reported that Iraqi officials say the ISIS militant group has been selling captured crude oil and gasoline that it seized when the terrorist group took over portions of northern Iraq a …
It is no coincidence that ISIS is using the oil fields and pipelines it captured in Iraq and Syria to sell crude oil for the purpose of funding its activities, according to a report in Istanbul’s Daily Sabah, dated July …
India has extended approval by six months, beginning June 28, for two Iranian ship underwriters to provide insurance for container, tanker and bulk vessels calling at Indian ports, the Wall Street Journal reported yesterday. The decision to relax sanctions against …
Yesterday energy analysts warned of a significant global price jump for oil if Iraq’s southern oil fields are captured and shut down, but commodity prices appear to be disconnected this week from the potentially serious threat to Iraq’s oil production, …
In a research note issued June 16, Raymond James Equity Research Analysts Pavel Molchanov and Marshall Adkins said: “Given Iraq’s status as OPEC’s second-largest oil producer and fastest-growing oil producer outside the U.S., anything that runs the risk of disrupting …
According to a recent survey by Reuters, OPEC’s oil output dipped to a two-year low, falling from 30.32 MMBOPD in August 2013 to 30.07 MMBOPD in September 2013.
The survey comes despite the fact that Saudi Arabia, the world’s largest …
Afren plc (ticker: AFR) is an independent upstream oil and gas exploration and production company listed on the main market of the London Stock Exchange. Afren is currently producing from its assets offshore Nigeria and Côte d’Ivoire and holds further …
CRUDE OIL INVENTORY/’000 bbls (Week Ended 10/5/12)
Current: 366,370
Actual Build/(Withdrawal): 1,672
Economist Average Estimate: 773
Previous: 364,698
Click here for the chart with five year averages.
CRUDE OIL IN THE MEDIA
*Continental Resources says Oklahoma discovery may add 1.8 …
