US report: Iraqi approach to extend an oil pipeline towards Syria

[Butifldrm]

2018-11-27 BY SOTALIRAQ

 

 

Iraq announces a rise in its exports and oil revenues

 

 

The Ministry of Oil announced a rise in total oil exports and revenues for the month of October last compared to last September. 
According to the final statistics issued by the Iraqi Oil Marketing Company (SOMO), the volume of exports of crude oil (107) million and (821) thousand (261) barrels, with revenues amounted to (7) billion and (908) million and (496) Dollars. 
The spokesman for the Ministry of Oil Assem Jihad that the total quantities exported from crude oil for the month of October was made from the oil fields in central and southern Iraq. 
Jihad said the average price per barrel amounted to (73,348) dollars. 
He pointed out that the exported quantities were loaded by (36) international companies of different nationalities, from the ports of Basra and Khor al-Amaya and the monolithic buoys on the Gulf.

https://www.sotaliraq.com/2018/11/27/العراق-يعلن-ارتفاعا-بصادراته-وايرادا/

[Butifldrm]

Tuesday, 27 November 2018 03:23 PM

 

The Ministry of Oil announces the quantities planned for export to the world markets during 2019

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 The Ministry of Oil announced the determination of quantities planned for 2019 for international markets. 
The official spokesman of the ministry Assem Jihad said that the ministry approved the allocation of quantities for the new contracts for companies buying Basra crude oil light and heavy and Kirkuk crude oil for the year 2019, adding that it was laid the foundations and mechanisms of marketing and economic and strategic vision adopted by the oilmarketing company (Sumo) The allocation of the quantities available for export according to the importance of each market in terms of the volume of demand and the financial return achieved to sell a barrel.

He explained that Deputy Prime Minister for Energy and Minister of OilThamer Abbas Ghadhban directed a balanced policy in dealing with the global oil market, to maintain the stability of markets and in order to ensure and achieve Iraq's economic interest .

He pointed out that the ministry has set the rates of the major international markets of Iraqi crude oil exports . The percentage of the total quantities of the total quantities planned for export next year is 2019 for the Asian market (67%), for the European market (20%) and for the US market (13%).

https://www.thebaghdadpost.com/ar/Story/134183/وزارة-النفط-تعلن-الكميات-المخطط-تصديرها-للأسواق-العالمية-خلال-عام-2019

[Butifldrm]

2018-11-28 BY SOTALIRAQ

 

Iraq reveals the share of global markets of oil

 

The Iraqi Ministry of Oil announced the determination of quantities planned for export to 2019 for global markets. 
The official spokesman of the ministry Assem Jihad that the ministry approved the allocation of quantities for the new contracts for companies buying Basra crude oil light and heavy and Kirkuk crude oil for the year 2019, adding that the foundations and mechanisms of marketing and economic and strategic vision adopted by the oil marketing company (SOMO) The allocation of the quantities available for export according to the importance of each market in terms of the volume of demand and the financial return achieved to sell a barrel. 
He explained that Deputy Prime Minister for Energy and Minister of Oil Thamer Abbas Ghadhban directed a balanced policy in dealing with the global oil market, to maintain the stability of markets and in order to ensure and achieve Iraq's economic interest.
He pointed out that the ministry has set the rates of the major international markets of Iraqi crude oil exports. The percentage of the total quantities of the total quantities planned for export next year is 2019 for the Asian market (67%), for the European market (20%) and for the US market (13%).

IRAQ

https://www.sotaliraq.com/2018/11/28/العراق-يكشف-بالارقام-حصة-الاسواق-العا/

[yota691]

Basra oil signed a contract with a Japanese institution in preparation for the development of the FAO warehouse

 

Thursday, November 29,

 

 

Alsumaria News / Basra Basra Oil Company announced on Thursday the signing of a contract with a Japanese engineering institution to provide consultancy services related to the development of the FAO warehouse, which is the main pillar of the Iraqi crude oil export system across the Gulf.  The company said in a statement read by Alsumaria News that "due to the utmost importance of the warehouse of the Faw oil has been held at the headquarters of the Basra Oil Company signed a contract for consulting with the Japanese engineering Toyo", indicating that "the contract worth $ 5.5 million, And the implementation takes eight months, during which the Japanese institution provides assessment and study services and the preparation of tender documents integrated to qualify and develop the oil reservoir.   The company said in a statement that "the contract was signed by the Basra Petroleum Company, its General Manager Ihsan Abdul Jabbar, and the Japanese Toyo Engineering Consultant and Executive Director Shuzu Izumu.  It is noteworthy that Basra is the center of the oil industry in Iraq , and one of the most important oil cities in the world, having at least 59% of Iraq's oil reserves, and includes the largest oil fields in Iraq, including Majnoon, Rumaila and West Qurna , and through the province exports most of the oil Which is based on the state budget on its revenues by a large percentage, where the volume of oil by sea carriers through the ports of Amai and Basra (formerly deep virgin), as well as three floating platforms (mooring, Jikor and Alfaha), and pump oil to the three platforms and ports through a pipeline extending under Water is connected to the FAO warehouse for storage And pumping crude oil, which is located in the district of Faw overlooking the Gulf.

[yota691]

Iraq announces its total exports and oil revenues last month

01:52 - 01/12/2018

 

 

 

BAGHDAD - 
The Ministry of Oil announced on Saturday the total oil exports and revenues achieved for the month of November last, indicating that this came according to preliminary statistics issued by the Iraqi Oil Marketing Company (SOMO). 
"The quantity of exports of crude oil amounted to more than (101) million and (156) thousand and (808) barrels, with revenues of more than (6) billion dollars," ministry spokesman Asim Jihad said in a statement received by Mawazine News. (179) million and (683) thousand dollars. "
Jihad added that "the total quantities exported from crude oil for the month of November last of the oil fields in central and southern Iraq amounted to more than (100) million and (895) thousand and (342) barrels, and through Ceyhan Turkish the amount of exports (261) And 466 barrels, with total revenues amounted to more than (6) billion and 179 million and (683) thousand dollars, "noting that" the daily rate of export amounted to (3,372) million barrels, (3,363) million barrels of oil The source through the southern ports and (8,716) thousand barrels of the Turkish port of Ceyhan through the northern port. 
The Spokesman pointed out that "the average price per barrel amounted to (61,090) dollars." Finished 29 / a 43

[yota691]

Sunday, 2 December 2018 12:53 pm| Number of readings:

Kurdistan oil rises by 250 thousand barrels per day after taking over Abdul Mahdi as prime minister
BAGHDAD / The oil expert Hamzah al-Jawahri said on Sunday that the Kurdistan government has announced the increase of its oil exports to the Turkish port of Ceyhan to 400 thousand barrels per day, indicating that this is a cause of suspicion and suspicion because it is impossible to increase production in one day to 250 thousand barrels .

"We wonder how the KRG could add 250 thousand barrels of oil per day to the volume of its oil exports, which increased its daily production of crude oil to 400 thousand barrels, and this increase in high production occurred within one day since the accession of Adel Abdul Mahdi prime minister. "

"This is suspicious because it is unreasonable to get an increase of 250 thousand barrels per day on the amount of production and within one day or even months because this increase requires a large number of fields."

The Kurdistan Regional Government, announced on the fourth of November 2018, the high proportion of crude oil exports to the Turkish port of Ceyhan to 400 thousand barrels per day.

The Ministry of Natural Resources in the region, in a statement received by "the eye of Iraq News," that "after the considerable efforts made by companies operating in the field of oil Tawke, the field was increased production by 50 thousand barrels per day."

The ministry added that "this increase fills the shortage that occurred in the field of Tawke recently and increases the total oil exports to the Kurdistan Regional Government to 400 thousand barrels per day," asserting "to increase this proportion during the year 2019."

She pointed out that "the policy of the territorial government to maintain the payment of dues of oil companies producing them led to increased investment in oil fields, and to stabilize production levels and pave the way for further increases in production during the year 2019."

"This export achievement will lead to more revenue that will help reduce the debt of the Kurdistan region and help it recover economically," she said.

[Butifldrm]

High oil prices in world markets

1 views

03/12/2018

Oil prices rose more than 4 percent on Sunday, boosted by lower Iraqi and Russian production, as well as a tentative agreement among OPEC members on cut production.

Brent crude <LCOc1> rose $ 2.73, or 4.59 percent, to $ 62.11, while US crude rose $ 2.48, or 4.87 percent, to $ 53.41.

OPEC oil ministers will meet in Vienna on Thursday and then hold talks with non-OPEC producers.

HA

http://aletejahtv.com/archives/267665

[yota691]

The opening of a new digital system for Rumaila oil field

12:56 - 06/12/2018

 

 

 

Baghdad - 
The Basra Oil Company opened the system of participatory environment developed at the headquarters of the Commission, which contributed to improving production during the first months since its opening. 
The company said in a statement received by Mawazine News, a copy of it, that "within the modernization program Rumaila continues to open the company's advanced participatory environment at the headquarters of the Commission, which contributed to improving production during the first months since its opening." 
"This system is another indication of the transformation of Rumaila into a 'digital field', which includes the latest digital technology to display instant data sent from the main production facilities in the field, and facilitate the task of the teams concerned with improving production and diagnosis of problems affecting production to deal with them immediately.
"The organization includes a participatory viewing system with multiple large displays, 84-inch touch screens and a radio communication system covering all joints of the field. This allows for immediate monitoring and analysis of wells, reservoir conditions and operational performance on a wider scale throughout the day, Before an Iraqi cadre. " 
She pointed out that "the advanced participatory environment system comes as a link within a broader modernization program that has been in operation for the last eight years and has been developed for the sustainability of the field and its development, and the transformation of digital field into the core of this program."
 The company explained that "Rumaila was in the past rely on paper documentation, it is no longer possible after the digital revolution was equipped with that old method and the new method extends to include all joints of the field not because it is a sophisticated method, but because it achieves speed, accuracy and continuity in the transmission of information The possibility of data analysis and benefit from the increase in production and reduce the rumors. " 
"For example, in the area of safety that is the top priority, the system has been introduced to control operational processes to enhance efforts to create high safety standards comparable to those applied in the global oil fields. Issued more than 100,000 work permits in just two years as a result of the introduction of this system. "
"The Rumaila modernization program includes the introduction of modern field technologies to develop the competencies of our associates and increase our ability to produce more oil for Iraq." It was gratifying for everyone to see the positive impact These techniques and modern equipment in the way of daily work in Rumaila, which contributed to the increase of oil production amazingly for all workers in Rumaila. "

[Butifldrm]

Le Monde: Baghdad intends to sweep the world oil market

 

Iraq wants to develop the energy sector by attracting foreign companies (Al Jazeera)

After years of political, security and economic chaos, Iraq is once again becoming the second most important oil producer in the Organization of the Petroleum Exporting Countries ( OPEC ) last September . 

According to a French newspaper Le Monde, four years after his war against the Islamic state organization, which has negatively affected part of its oil infrastructure in the north, Iraq is currently recovering its economic position.

 

The report, written by Nabil Wakim and Eileen Saloon, said the goal of the new oil minister, Thamir al-Ghadhban, was to develop infrastructure and restructure the energy sector, which was overshadowed by corruption and mismanagement.

Al-Ghadhban, according to the report, seeks to make his country produce five million barrels of oil per day in 2019, with 3.8 million barrels for export.

Attracting international companies
and noted authors that OPEC considers that Iraqinperiodrecovery from the scourgewar, and stressed that duringyear 2016,organization decidedreduce production significantlyorderraise oil prices, but Mesopotamia did not complythe demandsits partners underpretextspecial circumstances experienced by.

The new oil minister in Iraq, Thamir al-Ghadhban, told the Le Monde newspaper in early November that "Iraq's interest is to reach a barrel of oil at higher prices."

"What is important for us is a fair price for producers and consumers, and a stable price that guarantees the balance of our national budget, which is based on 90 percent of its revenues on oil," the report quoted Ghadban as saying.

The sharp drop in oil prices, which fell to around $ 60 last month, could have serious consequences for Baghdad . The budget currently under discussion in parliament is estimated at $ 112 billion in expenditure and an estimated $ 23 billion deficit, According to an Iraqi source.

Iraq's oil minister looks for fair price for producers and consumers (Reuters)

The report added that the new oil minister does not hide his intention to open the doors of Iraq to international companies to support the development of the country.

The report also quoted the head of a French company in the oil sector as saying: "Iraq began to open the way for international companies, especially with the presence of a government on the head of Iraq strongly supports the petroleum industry."

Financing for Reconstruction
Le Monde's report pointed out that oil revenues are essential for a country like Iraq that has suffered decades of war and economic sanctions .

Fifteen years after the US military intervention, Iraq finds itself in the financing of the reconstruction process following its war against the state, estimated at $ 150 billion, according to the World Bank .

The report pointed out that with the United States imposing sanctions on Iranian oil, Iraq could use it to fill part of the demand for black gold, and could benefit from resuming the export of oil from the fields of Kirkuk to the port of Ceyhan ( Turkey ) through the pipeline crossing Iraqi Kurdistan .

According to the authors, the priority of Iraq's new oil minister is mainly to develop infrastructure in the south, where most of the production capacity is concentrated, and the new minister is looking to diversify the export network with the extension of new pipelines. Jordan .

Source: Le Monde

http://www.aljazeera.net/news/ebusiness/2018/12/7/العراق-ثاني-أكبر-منتج-للنفط-في-أوبك

[Laid Back]

Thanks for the article Buti.!

 

“The report also quoted the head of a French company in the oil sector as saying: "Iraq began to open the way for international companies, especially with the presence of a government on the head of Iraq strongly supports thepetroleum industry”

 

Go international 

Go investment 

Go development 

Go RV

Go $1:1

[ChuckFinley]

Let's hope this can push us over the top. Trust you are doing well there Laid Back. 

[SocalDinar]

Oil prices will stabilize, rise over time: Iraqi Oil Minister

 Kurdistan 24 |

2 hours ago

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Iraq almost entirely relies on oil to generate its revenue. Over the past few years, the country has faced budget deficits due to the market’s unstable oil prices. (Photo: Reuters/Essam al-Sudani)

 

Iraq Kirkuk Oil OPEC 

A+AA-

ERBIL (Kurdistan 24) – Iraqi Oil Minister Thamer al-Ghadhban on Monday said he expected oil prices to stop falling and rise over time, defending OPEC members’ recent decision to cut production.

Had the oil-producing countries not made the move, according to Ghadhban, prices would have fallen to between 45 and 50 dollars a barrel.

Weather conditions rather than technical reasons were the cause of the recent decline in oil exports, Ghadhban said during a ministry event in Baghdad, reassuring that Iraqi oil fields have high capacity.

“Our goal is to reach an export capacity of 6.5 million barrels per day, but over several stages,” he noted, according to Reuters.

In a recent statement, the ministry said that in total, the Federal Government of Iraq exported 3.372 million barrels of oil per day (bpd). The numbers are in decline for the third month in a row as the country exported 3.469 million bpd in October and 3.560 million bpd in September.

These export numbers are falling despite the mid-November deal between Erbil and Baghdad to restart exports of Kirkuk oil to Turkey through the Kurdistan Region after a year of disruption following the historic Kurdish independence referendum in September 2017.

Iraq almost entirely relies on oil to generate its revenue. Over the past few years, the country has faced budget deficits due to the market’s unstable oil prices.http://www.kurdistan24.net/en/economy/b412b0a8-b483-412c-aa19-8c89487c9226

[yota691]

Iraq declares its need to establish oil refineries

Editorial Date: 2018/12/11 13:25 • 61 times read

Baghdad: Oil Minister Thamer Ghadhban said on Tuesday that Iraq needs new refineries to be satisfied with oil products.

"One of the challenges facing Iraq is to stop the importation of petroleum products, and to export these products through the establishment of modern refineries, one of which is now under implementation, Karbala refinery," Ghadhban said in a speech at the conference on scientific competencies. 
"Another task is to develop existing refineries to reduce black oil," he said. 
On the other hand, MP for the coalition of state law, Alia Nassif, Oil Minister Thamer Ghadhban, to clarify the details of contracts made before the decision of "OPEC" to reduce production, where he called to clarify all the contracts of sale of oil in the hours before the OPEC decision to cut production, Barrel and quantity sold.
It is noteworthy that Iraq has three large refineries are the refinery refinery and Basra refinery in addition to the refinery Baiji as well as 10 refineries small other spread to a number of provinces and a number of refineries in the Kurdistan region.

[yota691]

 

Entry of the largest oil processing complex in the Halfaya field in Maysan to work

 

15:49

Last updated

The time now is 03:56 PM

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BAGHDAD / 

Maysan Oil Company announced on Wednesday the entry of the largest oil processing complex with a capacity of 200,000 barrels per day in the field of Halafaya in Maysan. 

"The third oil treatment complex was inaugurated after its opening today to work, which is the largest of our oil complexes and will contribute to increase oil production by 200 thousand barrels per day in the field of Halafaya," said Adnan Nushi, general manager of the company, .

He added that "the complex represents the final stage of the development of the field of Halafaya, which was referred to the Chinese company cpecc, where it began in April of last year 2017," noting that "the oil wells Maysan and Petrojina Chinese Investor of the main field of Halafaya supervised the completion of the complex "He said. 

He added that "the project included the installation and operation of 4 banks for treatment capacity of 50 thousand barrels per day per bank, and each bank consists of a number of gas isolates and salt and electrolyte isolates and a number of heat exchangers and electric and hydraulic valves and gas gaskets and accessories, 200 thousand barrels per day, which connects the wells to the four branches of the complex. "

"The project also included the construction of 4 large reservoirs with a capacity of 30 thousand barrels and 11 different reservoirs of uses, extending 6 main conveyor lines, as well as setting up a 150 MW power plant to operate the project with a high precision electronic control system to control production processes treatment and the level of oil in the reservoirs. 

It is said that the Halfaya field , one of Maysan oil company fields saw the implementation of the development of unprecedented operations since 2010 after referring it to the Petrojayna Chinese company in the second licensing rounds down to the production of 400 thousand barrels per day and large quantities of gas from the insured Processing and benefit from it through the gas processing project to produce 300 million cubic feet a record (Mqmqm) which is under assignment to implementation companies. 

The Halfaya field is the first field in the licensing rounds in Iraq up to peak production.

[yota691]

12-12-2018 07:45 PM

Russia buys first shipment of Kirkuk crude

 

 

 

 

Baghdad:

 The first shipment of Kirkuk crude traded since the resumption of oil pumping last month was sold to Litasco, the Russian-based oil-producing Lukoil's trading arm, according to ship tracking data and a shipping document.

According to data from Revitiv Akon, the tanker Rafa, carrying about 600,000 barrels of Kirkuk oil, left the Turkish port of Ceyhan on Dec. 10 on the way to a refinery belonging to the Russian company in Italy.

Reuters also took note of the Rafa's loading bill, which confirmed details of the deal.

Litasco is scheduled to receive two more shipments of Kirkuk oil in December, a local freight forwarder said.

Iraq resumed the export of Kirkuk crude in November after the new Iraqi government reached a preliminary agreement with the Kurdistan Region. Crude flows were halted a year ago due to a dispute between the central government and the Erbil government.

The US government has called for a resumption of oil pumping to help address the shortage of Iranian crude in the region after Washington imposed new sanctions on Tehran.

Pumping resumed at a rate of about 50 to 60,000 barrels a day. Before crude oil stopped flowing in October last year, Iraq exported about 300,000 barrels per day of Kirkuk oil through Turkey to world markets. About 185,000 barrels per day were allocated to feed Iraq's refineries.

Last week, Iraq's oil minister said Kirkuk's output was around 400,000 bpd. Oil Ministry officials said about 100 thousand barrels of them heading to the tank owned by Iraq in the port of Ceyhan, Turkey.

 

Lukoil is one of the most important oil companies operating in Iraq, producing about 400 thousand barrels per day from West Qurna-2 oil field.

[Pitcher]

Iraq eyes increased oil production, exports for 2019

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Booming output. An Iraqi worker operates valves in Nihran Bin Omar oilfield, north of Basra. (AP)

Building on its oil production growth this year, Iraq is to further expand its oil capacity in 2019 asBaghdad continues to face economic challenges, including substantial reconstruction costs.

Iraq’s new oil minister has made it abundantly clear that little should stand in Baghdad’s path to boosting its crude production capacity in 2019 to 5 million barrels per day (bpd), even though that agenda might run counter to plans by other oil producers for collaborative output cuts in 2019.

Baghdad’s production capacity goals may come at the expense of its tenuous cooperation with the coalition of OPEC members and independent producers — referred to as OPEC+ — that is looking to bolster crude prices. As part of that coalition, Iraq agreed to participate in the group’s December 7 decision to reduce combined output by 1.2 million bpd for six months. One telling signal will be if Iraq’s government restores full volumes of Kirkuk crude through a pipeline crossing from northern Iraq through Kurdistan to the Turkish port of Ceyhan.

As OPEC’s second-largest producer, Iraq’s booming oil output has come under increasing scrutiny from other producers. Baghdad has demonstrated weak compliance with implied production targets recommended by the OPEC+ alliance by repeatedly overshooting its assigned level.

Iraq’s crude production jumped as much as 6% in 2018, thanks to strong output from its southern oil fields. Exports from those fields account for 95% of state revenues. Former Oil Minister Jabbar Al-Luaibi announced thatIraq produced a record 4.78 million bpd in October, though other industry estimates put that month’s output at 4.65 million-4.69 million bpd.

Thamer Ghadban, who was approved in October by the Iraqi parliament as oil minister in the new Iraqi government led by Prime Minister Adel Abdul-Mahdi, is fully backing Baghdad’s plans for achieving 2019 production capacity of 5 million bpd and export capacity of 3.8 million bpd.

After hitting a record export high of 3.58 million bpd in August, Iraqi export levels dropped the three months following, partly because bad weather impeded loadings at the southern ports. November exports averaged 3.37 million bpd, the lowest levels since April.

Such export challenges have regularly bedevilled Iraq as it seeks to increase its oil production capacity. Ghadban said enhancing export capacity, particularly in the south, “is a top priority.”

He stated that by upgrading infrastructure, including diversifying export terminals and introducing new pipelines,Baghdad hopes to achieve an export capacity of 8.5 million bpd. This would involve 6.5 million bpd of capacity from southern fields with 1 million bpdof additional capacity from a second pipeline from Kirkuk to Ceyhan.

The resumption of limited volumes of Kirkuk crude to Turkey in November after a year’s stoppage suggests that the Abdul-Mahdi government is feeling out the Kurdish government on resolving their issues, not only on Kirkuk oil flow but on the sharing of revenues of Kurdish oil exports to Turkey and federal budget allocations to Erbil.

The restart of Kirkuk exports came after Baghdad acquiesced to pressure from the Trump administration to stop trucking its Kirkuk barrels to Iran, which appears to be a quid pro quo forBaghdad being granted a sanctions waiver allowing it to receive natural gas and electricity from Iran to meet domestic demand.

For now, the Iraqi government intends to keep the Kirkuk volumes being piped to Ceyhan at 50,000-100,000 bpd, a fraction of the 300,000 bpdrouted through Kurdish territory before that flow stopped in October 2017 when Baghdad reclaimed Kirkuk territory from Erbil.

The new Iraqi government is maintaining the restored Kirkuk volumes at modest levels and putting those barrels into storage at Ceyhan as it tests its relationship with Erbil and to not antagonise the OPEC+ alliance. Concern about heightened Iraqi oil output may have been behind Saudi Oil Minister Khalid al-Falih’s visit to Baghdad in November when he met with Ghadban.

Baghdad, however, is banking on higher oil exports to meet its 2019 budget needs. A draft 2019 budget of $111.9 billion is based on projected crude exports of 3.8 million bpd at a price of $56 per barrel. The draft budget projects an increase in spending of $24 billion and a deficit of $22.8 billion. It has been rejected by Iraqi lawmakers who argue that it does not include reconstruction costs for provinces hardest hit during the 3-year war against the Islamic State.

During Falih’s visit, Ghadban suggested that international oil prices more than $70 per barrel would be “fair” but that the higher the price, the “better” for Iraq. Both Abdul-Mahdi and Ghadban have previously held the Iraqi oil portfolio, so they are no doubt on the same page as to how to increase Baghdad’s oil production and export capacities while also navigating OPEC politics.
 

 

https://www.thebaghdadpost.com/en/Story/34160/Iraq-eyes-increased-oil-production-exports-for-2019

[nannab]

Thank you  Mr. Pitcher  

[yota691]

Iraq signs contracts to sell all of its oil exports for 2019

 

energy Economy News _ Baghdad The head of the Iraqi oil export company "Sumo" Alaa Yasiri, on Monday, that his country contracted to sell the full quantities of oil destined for export during the year 2019, for companies in Asia and Europe ..  According to data on the website of the Iraqi Oil Export Company, 67% of crude exports Iraqi market for 2019 will go to the Asian markets, while 20% of exports to European markets, and 13% to the US market.  "All Iraqi oil exports for the coming year have been sold at good prices to consumers in several countries in Asia and Europe, with the lowest export discounts, without revealing the total number of exports in the coming year," Yasiri told the Iraqi News Agency (INA) .  He explained that the sale of these quantities of oil exports will enhance the balance of the state budget, and the national economy, noting that it was agreed to adopt the price of a barrel per month mainly for the sale. The director of the Iraqi oil export company, that the success of Iraq in the marketing of oil quantities comes after a competition between oil exporters from OPEC and beyond.  He pointed out that the contracting companies with Iraq are now by virtue of the obligation to buy oil after the signing of contracts that were based on international standards in the purchase while maintaining prices at the time of rise and fall.  Iraq expects to export 3.8 million barrels per day, including 250 thousand barrels of fields in the northern province of the country, in 2019, and the average exports currently about 3.5 million barrels per day.  According to the Iraqi Oil Ministry, the average oil exports from southern ports on the Gulf reached 3.48 million barrels per day in October compared to 3.56 million barrels per day of crude oil in September. Views 220   Date Added 17/12/2018

[yota691]

Oil announces the signing of two contracts to dig 40 wells in Majnoon field

 

energy Economy News - Baghdad The Ministry of Oil announced on Tuesday the signing of two contracts to dig 40 wells in the field of Majnoon, noting that the signing of the contracts comes to raise production rates in the field. The Minister of Oil Thamir Ghadhban on the sidelines of the signing of the contract in a statement received "Economy News" a copy of it, "the ministry is keen to proceed with the implementation of plans to develop the field of Majnoon oil national effort," noting that "the ministry signed two contracts first to dig 40 oil wells in the field between the company The oil of Basra and Schlumberger, and the second signing of the contract for the implementation of seismic survey three dimensions and dimensions of the field between the Basra Oil Company and oil exploration company. "The signing of the contracts comes to improve the production rates in the field, as well as the provisions of the Technical Department of the field of national effort after Shell withdrew from the implementation of its obligations to develop the field." He added that the field of Majnoon from the giant fields has great potential for production. "The drilling of 40 wells will increase production rates in the field, which in turn will provide additional financial revenues to the State Treasury," Ghadhban said, pointing out that "the implementation of seismic surveys of a crazy field by the oil exploration company in a three dimensional manner will provide accurate information to the Basra Petroleum Company, In the field and to increase production capacities and extract oil with the best technology and modern technology with a purely national effort. " The Majnoon field is one of the giant oil fields in Iraq and the current production capacity is more than 240 thousand barrels per day. Views 23   Date Added 19/12/2018

[Butifldrm]

Iraq signs contract with Schlumberger to dig 40 oil wells

Part of the signing of the agreements

 19 December 2018 02:11 PM

RIYADH - The Basra Oil Company signed a contract to dig 40 oil wells in the Majnoon oil field with the US company Schlumberger.

Deputy Prime Minister for Energy and Oil Minister Thamer Abbas Al-Ghadhban said in a statement that the Majnoon field of the giant fields has great potential for production, and the contract comes to raise production rates in the field.

The contract for the implementation of the three-dimensional and two-dimensional seismic survey of the field was signed between the Basra Oil Company and the Oil Exploration Company.

He explained that the contract came after the withdrawal of Shell from the implementation of its obligations to develop the field, explaining that the drilling of 40 wells will increase production rates in the field, which in turn will provide additional financial revenue to the State Treasury.

Al-Ghadhban added that the implementation of the seismic surveys of the Majnoon field by the three-dimensional oil exploration company will provide accurate information to the Basra Oil Company and will enable it to promote production in the field and increase production capacities and extract oil with the best technologies and modern technology with a purely national effort.

The Majnoon field is one of the giant oil fields in Iraq and the current production capacity is more than 240 thousand barrels per day.

The Ministry of Oil announced the development of the field in the national effort after the withdrawal of Shell International Company from the implementation of the field development contract, which won the rounds of petroleum licensing.

https://www.mubasher.info/news/3385142/العراق-يوقع-عقدا-مع-شلمبرجر-لحفر-40-بئرا-نفطية

[10 YEARS LATER]

This Schlumberger thing is a very big deal.

[blueskyline]

Thank You Buti , Pitcher Yota. GE DV's . Looks like the 2019 budget will not be a problem . Their progress can not be denied . One by one they are overcoming major obstacles ...

 

[Hotcurl]

On ‎12‎/‎17‎/‎2018 at 1:43 AM, yota691 said:

Iraq signs contracts to sell all of its oil exports for 2019

 

energy Economy News _ Baghdad The head of the Iraqi oil export company "Sumo" Alaa Yasiri, on Monday, that his country contracted to sell the full quantities of oil destined for export during the year 2019, for companies in Asia and Europe ..  According to data on the website of the Iraqi Oil Export Company, 67% of crude exports Iraqi market for 2019 will go to the Asian markets, while 20% of exports to European markets, and 13% to the US market.  "All Iraqi oil exports for the coming year have been sold at good prices to consumers in several countries in Asia and Europe, with the lowest export discounts, without revealing the total number of exports in the coming year," Yasiri told the Iraqi News Agency (INA) .  He explained that the sale of these quantities of oil exports will enhance the balance of the state budget, and the national economy, noting that it was agreed to adopt the price of a barrel per month mainly for the sale. The director of the Iraqi oil export company, that the success of Iraq in the marketing of oil quantities comes after a competition between oil exporters from OPEC and beyond.  He pointed out that the contracting companies with Iraq are now by virtue of the obligation to buy oil after the signing of contracts that were based on international standards in the purchase while maintaining prices at the time of rise and fall.  Iraq expects to export 3.8 million barrels per day, including 250 thousand barrels of fields in the northern province of the country, in 2019, and the average exports currently about 3.5 million barrels per day.  According to the Iraqi Oil Ministry, the average oil exports from southern ports on the Gulf reached 3.48 million barrels per day in October compared to 3.56 million barrels per day of crude oil in September. Views 220   Date Added 17/12/2018

Sounds like a guaranteed 2019 income stream for Iraq, to me

Kinda' like the airlines buying jet fuel contracts in advance. Guaranteed income for the producer and guaranteed supply for the consumer. 

 

Must be pretty nice for Iraq to have contracts in place for the purchase of ALL their EXPORT capacity thru 2019.

 

The IMF, World Bank, UN, etc.  must be pleased.

 

Plus, Plus, Plus, the export production #'s of 250K BPD from the "Northern Provence" (the Kurds) ?? are included in the total. . 

 

Semper Fi

RV there yet ?

[yota691]

20-12-2018 05:06 PM

Sadr reveals details of "new" about the extension of an oil pipeline from Basra through Jordan and Egypt

 

 

 

 

Baghdad:

Iraq's ambassador to Cairo, Habib Mohammad al-Sadr, revealed   arrangements for the implementation of the existing oil agreement and at a steady pace between Iraq, Jordan and Egypt, extending an oil pipeline from Basra through Jordan and from there to Egypt via the Gulf of Aqaba.

He pointed out that the Iraqi government headed by Adel Abdul-Mahdi pays great attention to its achievement, which makes a quantum leap in the economies of countries, especially as Egypt is about to become a regional center for the sale and circulation of energy.

He explained that the Iraqi government will offer the project to investors as a major investment opportunity to implement, because of the high cost, which was announced earlier by an estimated 18 billion dollars can be increased.

He pointed out that this project is a strategic, and meets the needs of oil states, and more than the need, turning the value added by converting petrochemical industries, as well as it provides an opportunity for Egypt to export oil from its territory.

As for the declaration of Iraq to sell its entire oil production by 2019, the Iraqi ambassador to Cairo said that this decision will not affect Egypt's share of the signed agreement, noting that the lifting of Egypt's share of Iraqi oil is subject to the request of the Egyptian government without any opposition from the government Iraq.

 

It is noteworthy that Jordan, Egypt and Iraq signed an agreement to pass oil through a pipeline from Iraqi territory to Jordan and from there to Egypt in 2014, and was not implemented because of economic reasons.

Egypt and Iraq signed an agreement in April 2017 to supply light crude oil shipments to Egypt by 12 million barrels a year at a rate of 1 million barrels per month. Egypt received the first shipment in May of the signed agreement.

[yota691]

Oil Minister: Kirkuk's exports will remain restricted

 

energy Economy News _ Baghdad Iraq's oil exports from Kirkuk's northern fields to the Turkish port of Ceyhan will remain between 80,000 and 90,000 bpd, with most of the crude produced to feed refineries in the north, Oil Minister Thamer Ghadhban said on Wednesday. At the same press conference, Farid al-Jadir, director of the North Oil Company, said the current production from the Kirkuk fields was about 370,000 bpd, adding that a technical team of BP is now operating in Kirkuk and will prepare a study to review plans to increase production by the end of 2019. Views 21   Date Added 12/26/2018