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Oil exports to Iran halted

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Economy News - Baghdad

Petronas's investments in the oil and gas industry in Iraq amounted to 8.3 billion dollars, while the company raised the production of the oil graph to 118.5 barrels per day.

The head of the operations of Iraq, Abdul Malik bin Jaafar, said that "Malaysian Petronas company operating in the field of oil Gharraf in the province of Dhi Qar achieved the highest export volume of 118.5 barrels per day, while the company was able to achieve the highest daily production of 103.3 barrels in December 2018, after The completion of the drilling of 22 wells, stating that operations, health, safety and environment ( HSE ) remain essential elements of Petronas' work as we strive to ensure that our facilities and services operate safely and in accordance with regulatory requirements and better HSE practices. "

"In all our rapidly expanding and growing projects, Petronas has successfully implemented various social and environmental programs and guided by our corporate sustainability framework, we carry out our work in a socially responsible and inclusive manner for the benefit of current and future generations," he added.

He explained that "the company invested about 150 thousand US dollars in 2018 within the programs under the name ( CSR ) of social benefits that benefit the area of the field."

The company plans to expand business activities in Iraq, including technology and production development, including extraction efforts at Al Gharaf, as well as the fields of Halfaia and Badra.

Petronas said in its previous report as the operator of the oil field Gharraf that it succeeded in reaching the first commercial oil production on 31 August 2013 after signing the service contract for development and production ( DPSC ) for the region of the contract ( Graaf ) in February 2010, so far invested about 8.3 billion Dollars in the oil and gas industry in Iraq.

The company confirmed in the report that "the field of oil Gharaf produces an average annual rate of up to 100 thousand barrels per day, and so far contributes 178 million barrels of cumulative Iraqi exports," expected to increase this rate more than doubled to reach the peak production target of 230 thousand Barrels per day by the fourth quarter of 2020 on the expectation that the rate of production will remain stable at this level beyond 2030.

"Petronas applies innovative technologies that help us discover and increase energy sources even from the most difficult environments. Our integrated value chain extends from exploration to marketing, logistics to technological infrastructure, with projects in more than 50 countries."

"Capacity building has always been one of the key elements of our operational philosophy to develop local talent wherever we go, especially in the region where we operate so far," said Bajo Belonk, Vice President, Petronas International Projects. "The company was able to achieve success 100% of the POT program, and invested about US $ 550,000 through scholarships. "

"We are proud to have nearly 600 local talents working with the company, 66% of which are part of our technical teams. Our goal is to support Iraq's energy needs and needs in a sustainable manner for the benefit of current and future generations."   

It is worth mentioning that ( Petroliam Nasional Berhad , / PETRONAS ) was founded in 1974 in Malaysia, a multinational oil company and integrated gas and is one of the world 's largest companies.


Views 48   Date Added 01/27/2019

 

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Thursday, January 31,
 
 
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Alsumaria News / Baghdad
The Ministry of Oil announced on Thursday its intention to dig 40 oil wells in the field of Majnoon, indicating that it is seeking to reach 450 thousand barrels in the field in 2021. 

Oil Minister Thamer Ghadhban during the signing of a contract to dig those wells, according to a statement received Alsumaria News "The Basra Oil Company signed a contract with the Iraqi Drilling Company to dig 40 oil wells in the field of Majnoon," noting that "the contract represents an important step to develop oil fields with national capabilities through specialist companies, including the Basra Oil Company and the Iraqi Drilling Company."

 

 


"The ministry will be able through this decade to develop the field and increase the production processes in record times and reduced costs and the efforts of loyal national staff in the oil companies of Basra and Iraqi drilling." 

For his part, said the Director General of the Basra Oil Company Ihsan Abdul-Jabbar, "The signing of the contract with the Iraqi Drilling Company is an update of the development program Majnoon oil field," stressing the achievement of "the national goal of large development of the field and increase production rates to 450 thousand barrels during the year 2021 "He said. 

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 Shell International withdrew from the implementation of the contract to develop the field, which won within rounds of petroleum licensing.

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The economy
of Iraq, China sign oil contracts for Rqotain expeditions

Iraq and China sign an oil contract for two exploration squares

 Twilight News    

 47 minutes ago

 

- The Deputy Prime Minister for Energy Affairs and Oil Minister Thamer Abbas Al-Ghadhban said on Thursday that the ministry is continuing to implement its strategic plans to develop and rehabilitate the exploratory patches to boost the oil and gas reserves by the national effort and in cooperation with international companies.

This came during the signing ceremony of a contract between the oil exploration company and China's Sinoc to carry out the seismic surveys of two exploratory tablets.

"The contract includes the implementation of seismic surveys and the preparation of reservoir studies and analysis of the two exploratory planks, one of which is freely in the territorial waters of Iraq in the Gulf, and the second is an exploratory ground survey in Faw City," the minister said in a statement.

He added that "the activity comes to confirm the keenness of the Ministry to participate in the national effort in investment projects."

"We hope that the combined expectations of the two patches will be great, especially that the area where the two patches are located is a promising region with large oil structures."

"The signing of the contract with the Oil Exploration Company is an important step for cooperation with the Ministry of Oil in the exploration sector.

"The company will carry out the seismic surveys of the wild spot according to the national potential, while Sinook is preparing studies and surveys of the marine patch," said the director general of oil exploration company Nashwan Mohamed Nouri.

For his part, Spokesman for the Ministry Assem Jihad said that the signing included the studies and surveys of geological and seismic for the first exploration activity in the territorial waters, and is an important step on the way to explore the oil wealth in the marine patches.

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http://www.shafaaq.com/ar/Ar_NewsReader/76ba0e0d-a751-4bd6-8fb5-88c16b83dae6

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Iraq  concludes a contract to dig 40 wells to increase its oil production

Iraq is concluding a contract to dig 40 wells to increase its oil production

Twilight News    

 2 hours ago

The Deputy Prime Minister for Energy and Oil Minister Thamer Abbas Ghadhban on Thursday the Ministry's keenness to speed up the development of Majnoon oil field with the national effort and increase production rates according to future plans.

This came during the signing ceremony of a contract to dig 40 wells in the field of Majnoon oil in the province of Basra between the Basra Oil Company and the Iraqi Drilling Company.

Al-Ghadhban said in a statement that the contract represents an important step for the development of oil fields with national capabilities through specialized companies, including the Basra Oil Company and the Iraqi Drilling Company, stressing the ministry's support to develop these companies and upgrade them to refineries of international companies.

He added that the contract was signed between two national companies to dig 40 oil wells in the field of Majnoon oil, thus the ministry will be able to develop the field and increase the production processes in record times and reduced costs and the efforts of loyal national staff in the oil companies of Basra and Iraqi drilling.

For his part, Director General of the Basra Petroleum Company Ihsan Abdul Jabbar said that the signing of the contract with the Iraqi Drilling Company is an update to the development program Majnoon oil field, stressing the achievement of the national goal of large development of the field and increase production rates to 450 thousand barrels during the year 2021.

The Director General of the Iraqi Drilling Company said on behalf of Mohammed Khudair that the signing of a contract to dig 40 oil wells in the field of Majnoon oil strengthens the ability of the drilling company to participate actively in the development of oil fields, pointing to the company's possession of advanced drilling equipment and towers, as well as national staff trained to work according to And the company is carrying out drilling projects in a number of oil fields and has witnessed a major development in the fields of work and obtained a number of international quality certificates (ISO).


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If it is warm over there I will dig the wells myself for nothing. :lol:

Thank you Butifldrm :D

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Changing fortunes for Iraq in 2019

A new federal government has a powerful engine in terms of rising crude output and export capacity, but also faces huge domestic difficulties

 

Iraq is setting off on the right foot. Record crude output (4.6mn b/d) and exports (3.58mn b/d) in August 2018 supported Iraq's fiscal outlook, allowing Baghdad to secure an estimated budget surplus of $23bn—a turnaround from its planned deficit of $10.6bn. Iraq was also set to exit 2018 with a new government, spearheaded by former oil minister Adel Abdul-Mahdi. For investors, key questions arise for Iraq's petroleum sector in 2019: by how much will crude production and exports increase? And will the summer of 2019 signal fresh protests as temperatures soar and electricity shortfalls re-emerge?

Iraq is setting off on the right foot. Record crude output (4.6mn b/d) and exports (3.58mn b/d) in August 2018 supported Iraq's fiscal outlook, allowing Baghdad to secure an estimated budget surplus of $23bn—a turnaround from its planned deficit of $10.6bn. Iraq was also set to exit 2018 with a new government, spearheaded by former oil minister Adel Abdul-Mahdi. For investors, key questions arise for Iraq's petroleum sector in 2019: by how much will crude production and exports increase? And will the summer of 2019 signal fresh protests as temperatures soar and electricity shortfalls re-emerge?

Abdul-Mahdi, a respected economist, achieved several feats during his former roles as oil and finance ministers: he oversaw Iraq's efforts to recapture Baiji refinery from Islamic State (IS) group militants in 2015-16; he was instrumental—along with SOMO—in segregating Iraq's crude grades, launching Basrah Heavy in 2015; and, finally, he supported Iraq's push to international capital markets and more effective debt management.

Politically, Abdul-Mahdi, having abandoned his former party (the Islamic Supreme Council of Iraq) is the first independent premier in Iraq's post-2003 history. Having been chosen as a compromise candidate, he has made public his frustrations with Iraq's political system, not least party interference and the use of ministries as tools for political cronyism. With no real power base in Iraq's parliament, his authority stems from the backing of two prominent Shia figures set to dominate the political landscape in 2019: Moqtada al-Sadr (head of Sairoun) and Hadi al-Ameri (head of the al-Fatah Alliance).

Abdul-Mahdi knows that Iraq's energy sector is on trial. Some positive developments have been notched up since assuming power—particularly a new deal with the Kurdish Regional Government (KRG) to resume Kirkuk exports via Turkey. But this was more a result of US pressure, seeking to replace Iranian exports.

Iraq in 2019 will largely ignore Opec output policy. Compliance with any deal will be low

Protests in oil-rich Basra in the summer of 2018 exposed the supply-demand gap balance in Iraq's electricity sector (approximately 7.5GW); likewise, areas liberated from IS have increased the call on refined product imports. The challenge of pushing through difficult reforms—subsidy reform, tariff collection and reducing public sector payrolls—will likely continue throughout 2019.

Iraq's proposed 2019 budget signals this. The Popular Mobilisation Forces—an umbrella group of mostly-Shia militias supported by Ameri and Iran—will also put a new drag on government finances. Provinces still reeling from the damage sustained by IS and consumed by water and electricity shortages have already started protesting their lack of funds from the federal budget. Further protests from these constituencies are likely in 2019, particularly in Nineveh and Anbar provinces, where security risks remain due to the ongoing war in Syria.

Despite these political headwinds, Iraq is set to increase crude output in 2019. With approximately $11bn earmarked by the Ministry of Oil (MoO) to enable IOCs to recover their costs for operations under technical service contracts, Iraq's production capacity in 2019 will average approximately 5mn bl/d.

Incremental gains next year will be driven by production from PetroChina-operated Halfaya field, North Oil Company fields in Kirkuk, and additional volumes from state-operated fields.

 
For Kirkuk, crude output will increasingly be directed to refineries (particularly Baiji) and via the KRG-operated pipeline through Turkey. Iraq's southern export capacity—which includes the 1.6mn-bl/d Basra Oil Terminal, the non-operational 350,000-bl/d Khor al-Amaya terminal and four single-point moorings (SPMs) with capacity of 900,000 bl/d each—will increase marginally. Plans to increase onshore storage and deliver a new 120km (75-mile) sub-sea pipeline connecting onshore storage at Fao with SPM-4 will also help export volumes in 2019.

For legacy brownfields, 2019 will prove challenging: Rumaila Operating Organisation, operated by BP, will focus upstream capital expenditure on North Rumaila, tapping into the heavier Mishrif Reservoir (average API of 34°) and defined by weak aquifer support—a microcosm of Iraq's wider water challenges. Similarly, production increases from West Qurna-2 will be dependent on a newly proposed Tuba-Fao pipeline (which Lukoil will build), designed to feed volumes from West Qurna-2, Ahdab, and Tuba to Fao.

Despite the exit of Shell from Majnoon, it is unlikely 2019 will see any other IOCs pull out of Iraq's upstream. On the contrary, the MoO, aware of IOCs repositioning their global upstream investments in a more competitive industry, may seek to provide better terms for new entrants, especially in support of state-operated fields. In particular, ExxonMobil—currently engaged in talks over the South Integrated Project—may increase its involvement at Luhais and Ratawi in return for increased investment in the midstream pipeline network and export infrastructure.

Iraq's upstream boost in 2019 will be matched by the MoO's attempt to play catch-up in its downstream sector. Federal Iraq's refining capacity stands at approximately 650,000 bl/d, with refining runs of 550,000-600,000 bl/d. This capacity can meet domestic demand; but the mismatch between product demand and output has geared the MoO to upgrade existing refineries in order to reduce the product import bill ($2.5bn per year). In 2019, incremental refining gains will be made at the 15,000-bl/d Qayarrah refinery (which will receive increased volumes from the Qayarrah field). The Daura refinery is also set to increase runs in early 2019, following the opening of a new 40,000-bl/d pipeline from Kirkuk to Daura (via Baiji).

5mn bl/d—Iraq's 2019 production capacity

The restart in September 2018 of the war-damaged Salahuddin-2 unit (Baiji refinery) will help increase output from Kirkuk and meet product shortages in 2019. Whilst current runs are low at around 10,000 bl/d, this is set to increase in the coming year. The Salahaddin-1 unit (70,000 bl/d capacity) is non-operational, with plans for its restart in 2019—which will assist increased output from the Avana Dome and Bai Hassan fields. Additional refining capacity gains are also set to come from upgrading the Basra refinery (by 70,000 bl/d). Despite these refining gains, Iraq will continue to import light products, particularly gasoline and diesel.

The second half of 2018 highlighted a major imbalance in physical oil markets: a glut of light-sweet grades (particularly from the US) and increased tightness in medium-heavy grades. Iraq in 2019 will largely ignore Opec output policy. Compliance with any deal will be low. Iraq is likely, however, to follow Saudi Arabia and Kuwait in reducing exports to the US in 2019 to address rising inventories. Both Opec restraint and demand by Asian refiners for medium-heavy grades in 2019 will support SOMO's ability to market its crude. While oil price volatility will dominate the market in 2019, Iraq's budget price assumption of $56/bl is conservative.

Other market factors provide an additional fillip to Iraq in 2019: both the likelihood of US policy towards Iran tightening from May 2019 (as sanctions waivers expire) and soaring middle distillate demand (particularly diesel) driven by IMO 2020 will keep Iraqi crude grades competitive, particularly among complex refiners in India and China. SOMO will also make new advances into the Chinese independent refining market, following the signing of new JVs with Chinese companies in 2018. Iraq will also accelerate market share in Mediterranean markets; having inked a deal with Erbil to resume exports via the KRG pipeline toward the end of 2018, increased output from Kirkuk will support exports to Italy, Greece and the EU via Turkey, particularly as Mediterranean refiners grapple with reduced purchases from similar-quality Iranian grades and ongoing volatility of Libyan cargoes.

As oil production increases in 2019, the call on Basra Gas Company (BGC) to process associated gas from Licensing Round 1 fields will increase. With BGC set to handle approximately 1.2bn cf/d in 2019, Iraq will continue to flare gas in the coming year, at a cost of $50 per second. Increased MoO attention on gas handling at IOC fields will also dominate the agenda.

https://www.petroleum-economist.com/articles/politics-economics/middle-east/2019/changing-fortunes-for-iraq-in-2019

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Iraq exports more than 110 million barrels of oil revenues of more than 6 billion dollars

Iraq exports more than 110 million barrels of oil revenues of more than 6 billion dollars
 



 Twilight News    
 19 minutes ago

The Ministry of Oil announced the total exports and revenues achieved for the month of January last, according to preliminary statistics issued by the Iraqi oil marketing company "Sumo", which amounted to more than 113 million barrels of oil. 
The spokesman for the Ministry of Oil Assem Jihad said that the total quantities exported crude oil for the month of January last from the oil fields in central and southern Iraq amounted to 110 million 245 thousand and 281 barrels, while the fields of Kirkuk amounted to 2 million and (315) thousand and (381) ), While the quantities exported from the field Qayara (550) and (775) barrels. 
He pointed out that the total daily rate of exports reached (3) million and (649) thousand barrels. 
He pointed out that export revenues amounted to 6 billion and 352 million and 753 thousand dollars. 
Jihad said the average price per barrel amounted to (56,164) dollars.

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Oil: total oil revenues for the month of January last more than (6) billion dollars

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BAGHDAD - The Ministry of Oil announced on Friday the total exports and revenues for the month of January, according to preliminary statistics from the Iraqi oil marketing company "Sumo". 

 

"The volume of exports of crude oil reached more than (113) million and (111) thousand and (437) barrels, with  revenues of more than (6) billion and (352) million and (753) thousand dollars" .

The spokesman for the Ministry of Oil Assem Jihad, in a statement received / Iraq Press / a copy, that "the total quantities exported crude oil for the month of January from the oil fields in central and southern Iraq amounted to more than (110) million and (245) thousand and (281) barrels, either from the fields of Kirkuk, the quantities exported (2) million and (315) thousand and (381) barrel, while the quantities exported from the field Qayara (550) and (775) barrels, "adding that" The total daily average of exports reached (3) million and (649) thousand barrels at the rate of a barrel per barrel (56,164) dollars. " End Ah

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 energy


Economy News _ Baghdad

The Ministry of Oil, the details of the contract of drilling 40 wells in Majnoon Giant field in the province of Basra. 
The director general of the Iraqi Drilling Company, Basem Mohammed Khudair, told a news conference in Basra and followed him "Economy News" that "the production ceiling of 24 months and reach the capacity of 450 thousand barrels of the field only Majnoon." 
He pointed out that "the work begins at the end of this year," noting that "the Ministry of Oil instructed the Iraqi Drilling Company to start work joint dialogue with neighboring countries." 
The Oil Ministry announced last Thursday that the Basra Oil Company has entered into an agreement with the state-run Iraqi Drilling Company to dig 40 new oil wells in the giant oil field of Majnoon in the south of the country. 
"This contract represents an important step for the development of oil fields with national capabilities through specialized companies, including the Basra Oil Company and the Iraqi Drilling Company," Oil Minister Thamer Ghadhban said during his attendance at the signing ceremony of the drilling contract.
"The contract was signed between two national companies to dig 40 oil wells in the field of Majnoon oil, so the ministry will be able to develop the field and increase the production processes in record times and reduced costs and the efforts of loyal national staff in the Basra oil companies and the Iraqi drilling.


Views 39   Date Added 02/03/2019

 
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Iraqi News Agency Information / INA
03/02/2019 12:12:00 PM | Number of readings: 365

Conscious / Oil announces the details of the contract drilling of 40 wells in Majnoon giant field

 Conscious / Baghdad / Z.

The Ministry of Oil, on Sunday, details of the contract of drilling 40 wells in Majnoon Giant field in the province of Basra.

The director general of the Iraqi Drilling Company, Basem Mohammed Khudair, told a news conference in Basra that he was quoted by the Iraqi News Agency (INA) as saying that "the production ceiling of 24 months and reach the capacity of 450 thousand barrels of Majnoon field only."

He pointed out that "the work begins at the end of this year," noting that "the Ministry of Oil instructed the Iraqi Drilling Company to start work joint dialogue with neighboring countries."

The Oil Ministry announced last Thursday that the Basra Oil Company has entered into an agreement with the state-run Iraqi Drilling Company to dig 40 new oil wells in the giant oil field of Majnoon in the south of the country.

"This contract represents an important step for the development of oil fields with national capabilities through specialized companies, including the Basra Oil Company and the Iraqi Drilling Company," Oil Minister Thamer Ghadhban said during his attendance at the signing ceremony of the drilling contract.

"The contract was signed between two national companies to dig 40 oil wells in the field of Majnoon oil, and thus the ministry will be able to develop the field and increase the production processes in record times and reduced costs and the efforts of the loyal owners of national companies in Basra and Iraqi drilling companies.

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2019/02/07 17:53
  • Number of readings 201
  • Section: Iraq
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"Lukoil" invest in the largest Iraqi fields with modern technology

LUKOIL, Russia's second-largest oil producer, announced on Thursday (February 7th, 2019) that it has begun drilling new wells in West Qurna 2 field in Iraq.

The company said in a statement that the new wells will allow it to increase production by 20% from 400 thousand barrels per day at present to 480 thousand barrels per day by 2020.

The statement pointed out that "Lukoil" will use a modern mechanism when drilling new wells, based on the idea of installing two diggers at the field platform, which will contribute to accelerate the development of the field and ensure the growth of production at a faster pace. 

The field of "West Qurna 2" in southern Iraq and is one of the largest oil fields in the world, with a proven reserves of about 14 billion barrels. In 2018 signed "Lukoil" with Iraq agreement to invest the field until 2025, and the two sides set the ceiling of oil production from this field by 800 thousand barrels per day.

Follow the obelisk - agencies

 

http://almasalah.com/ar/news/163317/لوك-أويل-تستثمر-في-أكبر-الحقول-العراقية-بتقنية-حديثة

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Expectations to restart the oil line stopped since the Iran-Iraq war
 

Lebanon is expected to restart an old pipeline between the Kirkuk oilfield and the Lebanese city of Tripoli, according to Lebanese reports.

"Lebanon is in contact with officials in Iraq and Syria to discuss ways of rehabilitating the pipeline," said Lebanese Energy and Water Minister Cesar Abi Khalil. According to the site "Info Pro".

Oil pumping in this line has been suspended since 1982 due to the outbreak of the Iran-Iraq war at the time.

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These pipelines export Iraqi oil

02:31 - 08/02/2019

 
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BAGHDAD - 
Iraq, according to geological studies, contains about 530 geological structures that give strong indications of the existence of a huge oil reservoir. Only about a quarter of these structures have been excavated, which have been proven to contain huge oil reserves that are distributed in many fields. 
The current oil and gas fields are concentrated in the provinces of Basra and Kirkuk, followed by the important fields of the provinces of Maysan, Baghdad, Salahuddin, Diyala and Nineveh. 
The undiscovered and undeveloped fields are found in most of the governorates of Iraq except four are Diwaniyah, Babil, Anbar and Dohuk. 
On Friday, Mawazine News published the most prominent oil export pipelines, operating, suspended, canceled and planned pipelines in addition to the proposed lines. 

First: Operating lines: 1.
Kirkuk line - the first Turkish Ceyhan .. Opened in 1977 
2. The second Kirkuk-Ceyhan line opened in 1987

Second: Stopped lines:
1. The line of Kirkuk - Banias Syrian .. Opened in 1952 
2. The Kirkuk-Tripoli-Lebanon line opened in 1965 The 
two lines were suspended in 1982 by a decision of the Syrian government because of the Iran-Iraq war. 
3. Al-Zubair line - Yanbu Saudi on the Red Sea .. Opened in the first two phases in 1986 and the second 1990 
and stopped after 7 months only because of the invasion of Kuwait 
issued by Saudi Arabia and used for 20 years and was very expensive. 

Third:
Canceled lines: Kirkuk - Haifa Mediterranean. Opened in 1934 and stopped in 1948 because of the occupation of Palestine. 

Fourth: The planned lines:
Basrah - Aqaba, Jordan on the Red Sea 2019 

Fifth: Proposed lines:
Basrah line - Iran left 
Basra line - Boubyan Kuwait ..


It should be noted that these lines, which would have been suspended if the work was carried out and implemented the lines to be implemented in addition to the proposed lines .. This includes the lines of export of gas accompaniment, thus Iraq will have independence and capabilities and the possibilities and the flow of very high in the export and production, and makes a large figure in the world of industry and export of oil and gas. End n / a

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Here is a seemingly rough map of the Kirkuk to Tripoli, Lebanon crude oil pipeline route:

 

Image result for kirkuk lebanese oil pipeline route

 

The crude oil pipeline route seems to be near or through an area in Syria with ISIS activity/control:

 

Image result for ISIS held areas in Syria

 

At least the crude oil pipeline does not follow the Euphrates where there is a last ISIS evaporating stronghold.

 

There may be more news about pipeline and pumping station integrity to ensure the Kirkuk to Tripoli, Lebanon pipeline is repaired of any ISIS or other damage and is functional and of sufficient integrity having been off line since 1982 or around 37 years.

 

Reactivating THESE old commerce lines with Iraq sure is encouraging!!!

 

Go Moola Nova!

:pirateship:

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I never realized  for years how far away we were from the rv  until now that it's come up so very close

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 energy


Economy News _ Baghdad

KUWAIT (Reuters) - Oil production in the Rumaila oil field in the southernmost province of Basra has exceeded 1.5 million bpd, Prime Minister for Energy, Oil Minister Thamer Abbas al-Ghadhban said on Monday.

Al-Ghadhban said during his meeting with the management of the British company Bp operating Rumaila field, that one of the priorities of the Ministry plans to implement projects to develop production processes and stability in the oil fields and achieve the increases planned according to the plans of medium and long-term for each field.

Al-Ghadhban added that the progress of work in the field has increased thanks to the use of modern programs and technologies in all work facilities, especially in monitoring the remote production of wells, noting that the production rates in the field exceed 1.5 million barrels per day.


Views 36   Date Added 02/11/2019

 
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Oil minister from Basra: Iraq has become a source of gas and its products for several months

14:31 - 11/02/2019
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Information / Baghdad ..

Deputy Prime Minister for Energy and Oil Minister Thamir Ghadhban said on Monday that Iraq has become a source of gas and its products for several months, pointing to a significant increase in the gas invested.

"The South Gas Company is witnessing an increase in gas investments in favor of providing fuel for large plants," Ghadhban said in a press conference held in Basra province and his follower. "There is a reduction in the waste of gas."

Al-Ghadhban added that "Iraq has become a source of gas and gas products for several months," pointing out that "Shuaiba refinery, the largest refinery in the country, is witnessing large expansions at various levels." Ending / 25

https://www.almaalomah.com/2019/02/11/388278/

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2019/02/12 11:37
  • Number of readings 58
  • Section: Iraq
  •  

Iraq ranks 24th globally in oil consumption

 

BAGHDAD - The United States ranked first in the world and Iraq ranked 24th in oil consumption, according to a report by the global GFP rating agency. 

According to the report, the United States ranked first in the largest consumer of oil consumption of 19 million barrels per day, followed by China in the second phase and consumption of 10.120 million barrels per day, followed by Japan in third place and consumption of 4.530 million barrels per day, followed by India ranked fourth and consumption of 3.510 million barrels per day , And then Russia comes in fifth place with a consumption of 3.320 million barrels per day.

"Brazil is ranked sixth with 3.100 million barrels per day, followed by Saudi Arabia with 7 million barrels per day, followed by Canada with a consumption of 2.430 million barrels per day, followed by Germany with a consumption of 2.400 million barrels per day, South Korea at the tenth place with a consumption of 2.325 million barrels per day. " 

The report pointed out that "Iraq ranked 24th in the largest consumer of oil and 770 thousand barrels per day, followed by Argentina at the rank of 25 and consumption of 760 thousand barrels per day and comes to Egypt at the rank of 26 consumption of 740 thousand barrels per day."

The obelisk

 

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The Ministry of Oil reveals the amount of production of the Kurdistan region

  

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 energy

Economy News _ Baghdad

 

 The Ministry of Oil, the amount of production of the Kurdistan region of crude oil. 
"I am very optimistic that the Kurdistan Regional Government (KRG) will abide by the agreement, which will receive more than 250,000 barrels per day (bpd) to the federal government," Oil Minister Thamer Ghadhban told a news conference in Basra on his first visit to the province. 
"I am very optimistic about the commitment of the region to deliver 250 thousand barrels per day according to the law of the budget of 2019," adding that "held a constructive meeting with the President of the Kurdistan Regional Government, Nechirvan Barzani," in his recent visit to Baghdad last week. 
He pointed out that "the region currently produces 420 thousand barrels per day, and will reach 550 thousand barrels by the end of the year." 
"There are still differences over the sharing of profits between the government, Exxon Mobil and PetroChina on the integrated South Project," Ghadhban said.
"He believes that profits that exceed the agreed price should go to Iraq and not to foreign companies."

Views 171   Date Added 02/12/2019

http://economy-news.net/content.php?id=15384

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2019/02/12 08:50
  • Number of readings 149
  • Section: Monitoring
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Iraqi funds scattered in pipelines billions of dollars to Jordan, Saudi Arabia and Haifa .. "steal even iron"

 

The legal expert Tariq Harb wondered about the fate of the oil pipeline that was transporting Iraqi oil to the city of Haifa on the Mediterranean Sea through Jordan after more than seventy years to stop it after the new pipeline project from Basra to Aqaba, while the economist Abdul Rahman Al Mashhadani For the "obelisk" that Iraq has the right to return ownership of the oil pipeline, which was captured by Saudi Arabia, which was built with Iraqi funds near the port of Yanbu.

"After the agreements between the Jordanian and Iraqi governments on economic, commercial and financial issues, in a major meeting of the ministers of the two countries in Trebil on February 2, 2019, the war is a reminder of the oil pipeline established by the royal government that exported Iraqi oil to the city of Haifa, Average.

"But the oil pumping has been stopped, although it is a priority for the Iraqi government. There is a difference between the export of Iraqi oil to Aqaba and the Red Sea, while the export of oil to Haifa, as did the monarchy prior to the Republican era, gives preference to Iraq in terms of the place of export to the Mediterranean Rather than the remote route to Aqaba and the Red Sea.

"The transfer of oil, as was the case with the royal era, to the transfer of oil to Haifa," he said. "Iraq has a benefit in terms of proximity to oil markets in Europe and a lack of export expenses because Haifa is closer to Aqaba.

"But what we know is that Jordan has taken over the iron pipe and nothing has been left of it, while the pipeline between Jordan and Haifa on the Mediterranean Sea is still there and has not been acquired, as happened to the pipeline in Jordan. This is a remark to go back to the past of the Iraqi oil pipeline, He was passing through the Jordan and knowing who stole the iron of this pipe and compensate Iraq for the oil pipeline that was acquired by the Jordanians, so as not to be Iraqi money stolen from everyone.

For his part, said economist Abdul Rahman Mashhadani, Iraq has the right to return the ownership of the oil pipeline, which was captured by Saudi Arabia, which was built with Iraqi funds near the port of Yanbu.

"There are international agreements that the ownership of this oil pipeline belongs to Iraq and Saudi Arabia has taken it as a debt repayment," Al-Mashhadani said in a statement.

He pointed out that "the interest of Iraq is more important than the interest of the oil-exporting countries," OPEC "and when the interests of Iraq is opposed to the interest of this organization must consider the interest of the country and its benefits, which are more important than all interests.

Mashhadani pointed out that "the previous political differences with countries should not be reflected on economic interests because those interests are now larger and wider."

In the mid-1980s, Iraq and Saudi Arabia agreed to build an Iraqi pipeline running through Saudi territory and link Iraq's oil facilities to the south, close to the Saudi port of Yanbu on the Red Sea.

On June 4, 2001, Saudi Arabia announced that it had put its hand on the Iraqi oil pipeline, which it said was in the wake of what it described as threats and acts of aggression by Iraq, by launching a series of attacks on Saudi border control points, she said.

The obelisk

http://almasalah.com/ar/news/162940/أموال-عراقية-تتبدد-في-خطوط-أنابيب-بمليارات-الدولارات-الى-الأردن-والسعودية-وحيفا-سرقوا-حتى-الحديد

 

 
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Editorial date: 2019/2/13 9:06  896 times read
Iraq reveals its oil production and announces an important agreement
[Baghdad: Al-Furat News} Oil Minister Thamer Ghadhban revealed the amount of Iraq's production of crude currently.
Al-Ghadhban said in a press statement that "the country's current production of crude is four million and 510 thousand barrels per day," stressing that "Iraq has the capacity to increase the production of oil in the fields of the country to levels higher than the current production declared, but there is a need to abide by resolutions (OPEC) set the ceiling for production for its members and countries outside to address the weakness of prices and stability of the economies and markets of oil globally. 
"The negotiations with the international partners for the South Integrated Oil and Gas Project in the southern provinces reached an agreement on the general framework and the cost of the contract of construction and operation, except for one point only described as economic because it is specific to the distribution and participation of the profit rate of the partners and the ministry, And it is expected to reach solutions that satisfy both parties. "
The Minister of Oil said that "the development of oil and gas industry in the country is moving at high rates through the use of modern technologies in cooperation with international companies, noting that the priorities of the Ministry's plans are the implementation of projects to develop production processes and stability in the oil fields and achieve the increases planned according to the plans for the immediate and medium and long-term field". 
He praised "the joint management of the fields and the efficiency of workers, especially the national cadres, which proved the ability and skill of high, which enhances confidence in moving forward in the management of oil fields in the country."
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Agency of the orbit -

Baghdad

The Ministry of Natural Resources in the Kurdistan region of Iraq, Friday, exported oil to Iran.

The ministry said in a letter received by Al-Madar, under the direction of the General Directorate of Customs in the region, a notice to stop the export of oil derivatives to Iran.

The official spokesman at the international crossing of Pervez Khan said that he received a cable confirming the validity of this decision to stop the export of oil and its derivatives by trucks and implemented from the date of 14-2-2019 to the international outlets 'Pervez Khan - Bashmakh - Haji Omran'.

 

 

 

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