Committee looking to extend the OPEC production cut

[blueskyline]

http://non14.net/79433/مصر-تعلن-رسميا-استيرادها-النفط-من-العراق-بدلا-من-السعودية....... pilfered from people I respect 

[tigergorzow]

blueskyline Thanks,  Excellent news brings more business & revenue for Iraq.

Always keeping the faith!!

GO RV!!

[Laid Back]

Iraq will reach the highest rank of oil producers in the world, in the near future

Go oil production

Go oil sales

Go HCL 

Go RV 

[unirod]

My wife and I toured Egypt in 08. We saw Saudi's and the way they treated the locals. The Saudi's were arrogant and treated them like dirt! It's about time the Egyptians tell them to shove it up their royal a$$Es!

[blueskyline]

10 minutes ago, unirod said:

My wife and I toured Egypt in 08. We saw Saudi's and the way they treated the locals. The Saudi's were arrogant and treated them like dirt! It's about time the Egyptians tell them to shove it up their royal a$$Es!

Looks like this will indeed be a Royal shoving of shovings .....

[yota691]

Iraqi Oil Minister: Iraq has been working to re-balance and stability of the oil market

BAGHDAD / December / 24, IRNA - The Iraqi Oil Minister Jabbar defect that Iraq will work to strengthen efforts to restore balance and stability of the oil market.

 

A defect in a statement seen (IRNA) a copy of it, that 'Iraq was keen to communicate and consult with the brothers of the Organization of Arab Petroleum Exporting Countries (OAPEC).' He added that the '97th Session held in Cairo meetings are an opportunity to strengthen the bonds of relations with the brothers in the organization in order to unify positions in order to meet the challenges facing the world oil market. " 
He stressed, that 'Iraq will work to strengthen these efforts in order to work on restoring balance and stability of the oil market and support oil prices.' 
To announce that Egyptian Oil Minister Tariq Al - Mulla, that Egypt is seeking to reach an agreement with Iraq to import crude oil directly from him during the first quarter of next year 2017. 
Mulla said, on the sidelines of the Organization of Arab Petroleum Exporting Countries Conference (OAPEC) held in Cairo, that 'imported from Iraq target quantities ranging between one million and two million barrels a month.' 
Mullah, it had conducted a visit to the Iraqi capital of Baghdad last October end. 
While the number of deputies from the Iraqi National Alliance , called on the Iraqi government to grant Egypt crude oil in response to the blackmail practiced by Saudi Arabia against Cairo. 
The Egyptian Ministry of Petroleum announced earlier, the Company (Aramco) , Saudi Arabia did not send the special fuel shipments in November last month, did not reach Egypt 's position that the amount of 700 000 tons per month to meet the needs of the Egyptian domestic market of fuel shipments. 
XYZ ended ** ** 1369

[Wiljor]

EGYPT TO IMPORT CRUDE OIL DIRECTLY FROM IRAQ

Iraq, December 24, 2016 Egypt is seeking to import crude oil directly from Iraq in the first quarter of 2017, the country’s Minister of Petroleum Tariq El-Mollah said yesterday. El-Mollah told reporters, on the sidelines of a meeting of the Organisation of Arab Petroleum Exporting Countries (OAPEC), that Egypt aims to import between one and two million barrels per month from Iraq. “We are seeking to directly import crude oil from Iraq. We already use Iraqi oil but we get it from international markets but we hope to have a direct government-to-government agreement,” El-Mollah said. The minister visited Baghdad at the end of October, while a number of deputies from the Shia National Alliance called on the Iraqi government to export crude oil to Egypt on credit in response to what they said was “blackmailing” practiced by Saudi Arabia against Cairo. Earlier in October, Saudi Arabia informed Egypt that shipments of oil products expected under a $23 billion aid deal had been halted indefinitely. Saudi Arabia agreed, during a visit by Saudi King Salman in April, to provide Egypt with 700,000 tonnes of refined oil products per month for five years but the cargoes stopped arriving in early October.   middleeastmonitor http://iraqdailyjournal.com/story-z14508548

[yota691]

Oil stability in trading today, markets are looking forward to implementing the production cut agreement

economy

 Since 27.12.2016 at 12:42 (Baghdad time)

Follow-up scales News

Oil prices stabilized without registering little change in trading on Tuesday, marked by calm before the start of the New Year holiday with anticipation market position by less than a week to start the application of the first agreement in 15 years on production between OPEC and independent producers.

It is expected to begin implementation of the agreement, which will reduce production by about 1.8 million barrels per day in the first of January.

It fell International benchmark Brent crude in London for delivery in February, rose five cents to $ 55.11 a barrel at 0732 GMT.

A contract less than five percent of the highest level in 17 months, which amounted to $ 57.89 per barrel on 12 December after independent producers agree to make joint efforts with OPEC to reduce the oversupply of crude in the international markets, which led to a decline in prices.

US crude rose for delivery in February, rose six cents to $ 53.08 a barrel after closing at its highest level in 17 months on Friday. The oil markets are closed on Monday after the Christmas holiday, which disbanded in the early Alosbua.anthy 29/43 a holiday

[yota691]

Oil continues to rise and Brent record $ 57 per barrel

 

Wednesday, 28 December 2016 12:29

 

 

 

Alsumaria News / Baghdad Oil prices rose on Wednesday, before starting a gradual cut in production countries of OPEC and outside, to score Brent more than $ 57 per barrel.  It was the World London Brent crude traded in futures , up 30 cents , or about 0.52 percent to $ 57.13 a barrel by 11:20 pm Baghdad time, while West Texas Intermediate crude rose by 26 US cents to $ 54.16 a barrel.         The market awaits the official start of the implementation of the historic agreement between OPEC and a number of independent producers on reducing production, is scheduled to begin implementation of the agreement on the first of January.  It is expected to reduce the producers inside and outside OPEC production by about 1.8 million barrels a day agreed with Iraq to cut 210,000 barrels per day.

[gregp]

Thanks, Yota. 

This is good news for Oklahoma. There's thousands of homes abandoned or for sale due to the oil crash. This week, I saw seven Schlumberger rigs headed towards Oklahoma City. Last month there was a drill rig punching a hole about a mile behind my property. Things are looking up!

[Wiljor]

KURDISTAN WILL NOT REDUCE OIL EXPORTS UNDER OPEC AGREEMENT

Iraq, December 28, 2016 A Kurdish official dismissed claims that the Kurdistan Regional Government (KRG) has shown willingness to abide by an accord reached between OPEC members in early December to reduce oil exports. “The Kurdistan Region will continue its oil exports as before and has not decided to abide by the OPEC accord to reduce the exportation of oil,” Dilshad Shaaban, deputy head of the energy and natural resources committee in the Kurdistan Parliament, told Rudaw on Monday. His remark comes as Iraq’s Oil Minister Jabbar al-Luaibi had claimed at a meeting in Egypt that the majority of international oil companies alongside the Kurdistan Region would commit to reduce oil exports in order to fulfill the OPEC accord. “Kurdistan is within Iraq and we are in agreement,” Bloomberg quoted al-Luaibi, as saying at a meeting of the Organization of Arab Petroleum Exporting Countries, known as OAPEC. Shaaban added that the Kurdistan Region is not a member of OPEC and currently has no oil deal with Baghdad to force it to abide by the agreement. He explained that “there is only one way through which the KRG will commit to reduce its oil exports in case of it reaches an oil accord with Baghdad. But it is unlikely to happen.” According to the November oil production and export report from the KRG, the region has exported an average of 587,646 barrels of oil per day.  OPEC member states agreed on November 30 to reduce production by 1.2 million barrels a day in an effort to lift the price.  Iraq, OPEC’s second-biggest producer, pledged to reduce output by 210,000 barrels per day, or 4.5 percent of its total production.    rudaw http://iraqdailyjournal.com/story-z14526534

[Wiljor]

EGYPT PLANS TO IMPORT OIL DIRECTLY FROM IRAQ

Iraq, December 28, 2016 According to a report from Reuters, Egypt hopes to finalise a deal by the first quarter of 2017 to import crude oil directly from Iraq. Petroleum Minister Tarek El Molla (pictured) told reporters that Egypt aims to import between 1 million and 2 million barrels per month from Iraq: “We already use Iraqi oil but we get it from international markets but we hope to have a direct government-to-government agreement.”   iraq-businessnews http://iraqdailyjournal.com/story-z14526551

[SnowGlobe7]

OK so here we go

Egypt chooses Iraq over Saudi Arabia for their oil. Kuwait gives Iraq a crap ton of cash (100 million I think it was)

Saudis are loosing their grip. I can not help but to think that it is because to has been proven that they were funding terrorist...many terrorists including ISIS(maybe to hold onto their grip on the ME? so they think)

The truth is coming out....the Saudis were also deep in bed with the Clintons.....

conspiracy cat is on the loose!!!!!! Watch her go!!!!

[yota691]

Allaibi: Iraq begins to reduce its oil production procedures in line with OPEC 's decision

 

    

 

 2 hours ago

 

 

Twilight News / Oil Minister Jabbar Luaibi said on Thursday that Iraq has begun to reduce the national production of crude oil with the beginning of the new year 2017 procedures in line with the Organization of Petroleum Exporting Countries "OPEC's decision.

Allaibi said in a statement responded to the Twilight News, Iraq reaffirms its commitment to the decision of "OPEC", which was adopted at the last meeting in Vienna by putting a deliberate plan to reduce output from the country's fields with the beginning of the new year, noting that Iraq deal wisely with this file.

He said Iraq has been working with producers inside and outside OPEC to control the glut of oil supply in the world oil market and achieve the required balance between supply and demand and to support oil prices in the coming stage, stressing that the reduction of oil production decision is to address the problem of low oil prices in the global market and will no longer needed if the producers to achieve the goals.

It agreed Organization of Petroleum Exporting Countries (OPEC) in September of last year on a limited reduction in oil production in the first agreement of its kind since 2008 amid growing pressures caused by falling crude prices.

 

[DinarThug]

CNN. Broadcasting Crude Remarks !

 

(by bluedog)

Iraq: We started to implement measures to reduce crude production from the beginning of 2017

1/5/2017

(Dpa) - Iraqi Oil Minister Ali Jabbar Hussein Allaibi announced on Thursday that Iraq has begun to reduce the national production of crude oil with the beginning of the new year 2017 procedures, in line with the Organization of Petroleum Exporting Countries (OPEC) decision. Allaibi said, in a press statement that Iraq reaffirms its commitment to the decision / OPEC /, which was taken at the last meeting in Vienna, by putting a deliberate plan to reduce output from the country's fields with the beginning of the new year, and that Iraq is dealing wisely with this file. He added that Iraq is working with producers inside and outside OPEC to control the oil supply glut in the world oil market, and to achieve the desired between the supply and demand balance and to support oil prices during the next phase. He explained that the decision to cut oil production is to address the decline in oil prices in the global market and the problem will no longer needed if the producers to achieve the goals.

http://www.faceiraq.net/inews......id=5348919

 

[Wiljor]

Awesome, thanks DT 

[SgtFuryUSCZ]

Sounds like we're gonna get nailed on consumer gas prices...

good for them, bad for us....

But, then again, good for the RV....

so good for us ! 

So we'll try not to kick about it too much...

.. at least not until they justify yet another huge price-at-the-pump increase

when they lie about the huge cost of having to switch back to the Summer Blends....

 

Maybe Trump has a plan for US to use our own juice and cut OPEC out where we're concerned....

sure would be nice to be able to afford to drive just for the helluvit for 8 years !

[SnowGlobe7]

up 10 cents this week

[yota691]

   

Iran sells its oil floating deep discounts

London's new Arab

January 8, 2017

 

 

                                                                                                                                                 Since the election of President Donald Trump , who expressed his intention to tear the Iranian nuclear deal, is the government of Iran itself for the possibility to cancel the agreement and the return of the oil embargo once again in the coming years.

Among these plans prepared by Iran, alliance partnerships and energy held with Russia and some Asian deals the big price discounts granted to buyers in Asia and Europe , hoping to get a firm customers for its crude oil instead of relying on the spot market.

In this regard, the US banking sources said, Iran has granted substantial price discounts on the floating oil shipments that were stored in a fleet of oil containers owned and is estimated at about 60 oil ship.

The company "EA Gibson" brokerage in London specialized in the work of tankers , had estimated in a report last summer , " the floating of Iranian oil inventory by about 38 million barrels stored on Iranian beaches in containers ranging cargo between 500 thousand and one million barrels." But US reports estimated the amount of oil stored in floating ships about 50 million barrels.

According to a report published on the "Zero Hedge" the US, which is managed by Bankers are former "Wall Street", Iran sold from these shipments in the wake of reduced agreement production of about 13 million barrels, most of which went to China, India, France, Italy and South Korea.

The sources estimated the rest of the oil shipments in quantities of less than 10 million barrels stored in the number of containers between 12 and 14 containers. The report did not address the price at which it sold Iran, but do not rule out that may be sold at a discount of between 5 and 7 dollars a barrel on the spot price for Brent crude in London.

In the opinion of the Iranian oil expert Mehdi Farsi, who was working in the former National Iranian Oil Company, "that the storage of such shipments is very expensive, and therefore Iran will seek to get rid of most of." He also pointed out that Iran needs to these vessels used as reservoirs of oil in the export of oil cargo operations.

Among the pressures faced by Iran, driven by the rapid to get rid of these shipments, the oil containers in foreign trade so far refused to carry Iranian oil, because the insurance companies in Europe refuses to be secured.

And this may explain the mystery of the standard sales increase in the number of ships entering the port of Kharg Island, which referred to the agency, "Shana" news agency specializing in the oil news, in December / January last second. He sees oil experts in London that Iran probably will look for customers in the Baltic for the sale of the remaining quantities of oil states.

It is noteworthy that a cut in oil production, which was signed "OPEC" countries in Vienna at the end of the month of November last agreement did not restrict the volume of Iranian exports, but select only the agreement of the Iranian production ceiling during the next six months.

It is not known whether the Iranian oil sales of the store, "one of the reasons for the swing in oil prices over the past month, but certainly this is the floating oil quantities, one of the sources of concern speculators on the futures prices.

[Wiljor]

Iraq, January 8, 2017 

Iran and Turkey are trying to extend their economic influence over Iraqi Kurdistan oil, even as controversy flares over surreptitious deals between Kurdistan and Turkey.

Iraqi Kurdistan has been shipping oil to Turkey without Baghdad’s knowledge, resulting in Iraq violating an OPEC agreement, according to accusations leveled Jan. 3 by Iraq’s prime minister. Also, Iraq recently confirmed that a Kurdistan Regional Government (KRG) minister had offered to sell oil fields to Turkey for $5 billion, again without consulting Baghdad.

Meanwhile, Iranian Oil Minister Bijan Namdar Zanganeh plans to visit Iraqi Oil Minister Jabbar al-Luaibi next week to discuss cooperative projects related to oil and gas. Chief among these is the establishment of an oil pipeline from the province of Sulaimani in Iraqi Kurdistan to Iranian territory. 

Such a project would almost completely end the oil export monopoly of the Kurdistan Democratic Party (KDP), which is led by KRG President Massoud Barzani. The oil is now carried through Turkey, which has close strategic relations with Barzani’s party.

Nazim Dabbagh, Iraqi Kurdistan’s representative in Tehran, told Rudaw media network that Zanganeh’s visit to Iraq “comes within the framework of Iran’s attempts to link the oil of Kirkuk, the Kurdistan Region and all of Iraq to Iran, in order [for it] to be exported through Iranian territory.”

Iraqi Kurdistan’s oil is one of the main topics of contention between the Kurdistan Region and Baghdad on one hand, and among Kurdish political parties on the other. Critics say Barzani’s KDP, which controls the KRG, based in Erbil, is using money from oil and gas toward achieving its separatist goal. Some other parties oppose separatism, fearing the KDP will control Kurdish wealth and, consequently, monopolize power in Iraqi Kurdistan.

The Kurdish differences, most notably over the oil export issue, have raised the idea of dividing the Kurdistan Region and declaring another Kurdish province that would include Sulaimani, Halabja, Kirkuk and Khanaqin, which would limit Barzani’s authority to a small province with no effect. The idea was proposed by Kirkuk Gov. Najmaldin Karim, who is a leader of the Patriotic Union of Kurdistan (PUK) political movement in Iraq.

The KRG is dealing with the oil and gas issue as a domestic one that involves Kurds alone, without Baghdad, and it holds international conferences that call for international investments. Meanwhile, it is concluding contracts with companies without Baghdad. The Kurdistan-Iraq Oil & Gas Conference took place Dec. 5-7 in London under the auspices of Iraqi Kurdistan and with the participation of Kurdish officials including Minister of Natural Resources Ashti Hawrami and a large number of representatives of international oil companies. Organizers say the conference was the largest international meeting ever held regarding Iraqi Kurdistan’s oil and gas sector.

Meanwhile, Turkey is taking advantage of its strategic relationship with the KDP and has offered the possibility of exporting Iraqi oil from the Kurdistan Region through Turkey without agreements between Baghdad and Erbil. Article 111 of the Iraqi Constitution affirms that “oil and gas are owned by all the people of Iraq in all the regions and governorates.”

Iraq’s 2017 budget, which was adopted Dec. 7, obliges Iraqi Kurdistan to export 550,000 barrels per day total from its oil fields, including the oil of Kirkuk province, exclusively through the transnational State Oil Marketing Organization. The revenues, according to the budget, should go to the federal public treasury.

However, Iraqi Prime Minister Haider al-Abadi on Jan. 3 accused the KRG of exporting larger oil quantities via Turkey without the knowledge of Baghdad, which led Iraq to violate its OPEC obligations to cut total output by 200,000 barrels per day. During the month of November alone, the KRG exported 587,646 barrels per day through Turkey without any coordination with Baghdad, Abadi said.

The strategic relationship between Turkey and Barzani’s KDP is a subject for debate among the anti-Barzani parties, especially the PUK and the Movement for Change (Gorran), whose parliamentarian Serwa Abdul Wahid called Sept. 25 on the KRG to return to Iraq instead of resorting to Turkey, adding that “the KRG had previously tried Turkey but reaped no benefit.”

Abdul Wahid said in December that financial, commercial and oil transactions made under the Barzani’s supervision lack transparency.

Hoshyar Abdullah, head of the parliamentary bloc of change, had previously accused Barzani’s KDP of exporting 1 million oil barrels per day through Turkey, knowing that the export revenue destinations have yet to be revealed.

PUK leader Hero Ahmed sent a letter to Abadi in September calling on Abadi to prevent Iraqi Kurdistan from exporting oil due to its failure to follow “the principles of transparency and fairness when it comes to oil in the region.”

Ares Abdullah, a PUK parliament member and chairman of the parliamentary oil and energy bloc, in February accused the KDP of exporting 400,000 oil barrels from Kirkuk while only handing over the revenues from 20,000 barrels to the government coffers.

Also, WikiLeaks published secret documents a year ago about the existence of a deal between the KRG and Turkey to sell oil fields to Turkey in exchange for $5 billion. Muhsin al-Sadoun, a leader in Barzani’s KDP, just confirmed in a Dec. 29 interview with Al-Baghdadia News that “Minister of Natural Resources in Kurdistan Ashti Hawrami had previously suggested selling several oil fields in the Kurdistan Region to Turkish Energy Minister Bert Bayrak to repay debt and resolve the financial crisis plaguing the Erbil government.” However, the deal was not concluded, according to Sadoun.

The Kurdistan oil issue will remain a card in the hands of Baghdad, Tehran and Ankara to achieve their political goals in Iraqi Kurdistan, which means it will remain a key obstacle to the Kurdistan independence project as long as the Kurdish parties fail to conclude a transparent and fair agreement.

 

ekurd

http://iraqdailyjournal.com/story-z14574950

[jg1]

Ohh boy. There goes the apple cart. And the Iraq people continue to be sol. Criminals. The people should be getting their share before anyone else, make it law or uprising!!! To think the Mexican people are rioting over 40 cent increase in gas prices.

[Kraidle]

Seems to me the Kurds need to drain their swamp as well. You gotta play with the rules of the game you are playing, and know how to play in the first place, not fan the flames of conflict.

[mylilpony]

We have to remember also that there are 3 parties within kurdistan. The kdp led by barzani would like their independence, but if they can come to agreements then they will stay with iraq. Now the puk and the gorran movement are the 2 other parties that are linked highly to iran, and that is why they are causing so many problems. I know many on here do not like barzani and think he is a crook but what many dont think of is the over 2 million refugees that barzani supports in kurdistan, plus all the other provinces that fall under the auspices of the kurdish autonomous region, including kirkuk. Kirkuk's oil that is pumped, none of it is given back to kirkuk except through barzani. Baghdad gives them nothing and hasnt for years. Not only that, baghdad is not arming the kurds who are fighting isis, what little they do get has to get approval from baghdad, and that takes a long time. So they are fighting with little to nothing and doing an awesome job. I just watched another oliver north war stories and it showed how the kurds are fighting and how they are financing alot of their own things, and all the camps they have with the refugees from syria, and mosul. So sometimes things arent as simple as one writes in a news article. There are many underlying things. I know one thing for sure and that is barzani will fight to the death before he gives anything to Iran. 

Now barzani has just agreed with turkey to fight terrorism and that is not only against isis, but also the rogue pkk kurds, and the gulen's which are also kurds. Its sooo against everything that barzani stands for and that is to never fight kurd against kurd, but his region depends on it. Abadi also made agreements with turkey to run a pipeline from mosul to turkey today, and that would have had to been agreed upon with barzani because im sure that pipeline will run through kurdistan. So there are many things going on here and alot of it we are not privy to until the deals are done.

[sandfly]

Thanks 

[Wiljor]

ERBIL-ANKARA SEEK TO UPGRADE ECONOMIC TIES AND FIGHT AGAINST TERRORISM

Iraq, January 9, 2017 The Kurdistan Region is prepared to upgrade its cooperation with Turkey in all aspects especially in combating the threat of terrorism and broadening economic and trade ties, said Kurdish President Masoud Barzani at a joint press conference with the Turkish Prime Minister Binali Yildirim in Erbil on Sunday. “We welcome this visit,” Barzani said. “We highly appreciate it. This is a big support from the state of Turkey, and its people to Kurdistan Region. We thank the state of Turkey, his Excellency the president, yourself, and the Turkish people for your support to the Kurdistan Region.” The Kurdish president said that Turkey and Kurdistan were both facing the threat of terrorism. “We all have faced the disease of terror and terrorism. And to face the terrorists we need the cooperation between all sides. Thankfully the terrorists have faced a big defeat in our fronts, and we hope that the terrorists will be uprooted in all other fronts, in Turkey, here [in Iraq], and all other countries.” “We are ready to upgrade our cooperation in all aspects,” Barzani said, as he explained that they discussed a whole range of issues in “successful meetings” held today between both sides. For his part, the Turkish PM said that his country did not accept the Kurdistan Workers’ Party (PKK) activities carried out against Turkey from the Kurdistan Region, warning that they will not accept the de-facto Kurdish administration in northern Syria either. President Barzani visited Turkey last August on the invitation of Turkish President Recep Tayyip Erdogan after the country’s failed coup attempt which Yildrim described as important. “Your visit after the July 15 coup to Turkey was very important.” Turkish PM Yildirim said according to the Kurdish translation. “It showed clearly your firm stance against the FETO terrorist group, “he said, in reference to what Turkey calls Fethullah Terrorist Organization, “and for this we are very thankful of you.” PM Yildirim explained that common fight against terrorism, and the economic and trade ties underpinned his meetings with the KRG leaders. He said: “Regarding terror, the terrorist ISIS group, the terrorist PKK, and the terrorist FETO, are not Turkish problem alone; it is a problem to here [Kurdistan Region], Iraq, Syria and Turkey.” Yildirim went on to say that Turkey did not accept the use of Kurdish territory for attacks against his country, warning the Kurdish authorities that it was a security concern for them, too. “Our operation against the PKK is continuing both inside Turkey and also in here. The PKK activities carried out against us from here is not acceptable at all. Every necessary step will be taken to the end [of this threat]. The spread of this group to the west of Sinjar is not acceptable to us. This is a security issue. It is not Turkey’s problem alone, it is your problem, too—it is also Iraq’s problem as well. And to do this, a common effort is needed.” He added that they are trying to convince Europe and the West to understand that there is no difference between the PKK, a designated terrorist organization by the EU and the USA, and the Kurdish Democratic Union Party (PYD), and its armed wing of People’s Protections Units (YPG). “PKK equals PYD. It equals YPG. They make up names, and for each operation they make one,” he said adding that different names do not fool the Turkish state.  On economy and energy, he said that there will be meetings and further cooperation between respective ministries from both sides, as early as this month.   The Kurdish president and Turkish Prime Minister later visited Peshmerga front line near Bashiqa in Zerdik mountain.   rudaw http://iraqdailyjournal.com/story-z14580951