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

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Iraq’s Oil Reserves May Be Much Higher Than Thought

By Irina Slav - Mar 29, 2018, 6:00 PM CDT oil storage

Iraq’s crude oil reserves may turn out to be much higher than believed, the country’s oil minister Jabar al-Luaibi said at a recent industry event, timing the statement with news that it will pay foreign companies less in new contracts.

Last year, Iraq updated the estimate for its proven reserves to 153 billion barrels from 143 billion barrels, but if Luaibi is right, the figure could actually be double the 2017 estimate.

If the higher estimate proves true, it would make Iraq the largest oil-rich country in the world, ahead of Venezuela, which claims its reserves are just above 300 billion barrels, and also ahead of Saudi Arabia, with 260.8 billion barrels.

 

Al-Luaibi’s remarks on the reserve estimates come amid preparations for the next oil tender in the country, which is to take place next week and offer 11 exploration blocks to foreign companies.

A total 15 companies have expressed interest in bidding for the blocks in eastern and southern Iraq as the country seeks to increase its production capacity to over 5 million bpd from the current 4.35 million bpd.

But it also comes as Baghdad says it will exclude oil by-products from the revenue of foreign oil companies in new contracts that should be awarded in June. The end result will be reduced productive fees for foreign companies.

Related: Oil Majors Should Invest In Deepwater Drilling

The tender and the possible reserve update suggest Iraq does not plan to continue producing less than capacity for much longer.

This is hardly a surprise: OPEC’s number-two exporter has consistently failed to fit within its production quota under the OPEC+ agreement, forcing Saudi Arabia to reduce its production by more than it had agreed. In fact, were it not for Venezuela’s uncontrollably falling output, OPEC would not have been able to meet its objective of bringing global inventories down enough to stimulate higher prices.

Iraq has not made a secret of its production growth plans. The troubled country, which has yet to erase all traces of the Islamic State’s presence from its territory, depends on crude oil exports for 90 percent of its export revenue and does not have the means or options to initiate a quick economic turnaround.

By Irina Slav for Oilprice.com

https://oilprice.com/Latest-Energy-News/World-News/Iraqs-Oil-Reserves-May-Be-Much-Higher-Than-Thought.html

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40 minutes ago, Gypsygirl11 said:

I knew it, sneaky little devils.

For some reason I feel like house hunting. lol

I hope you can hunt the biggest house your dreams can handle in the very near future ...

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1 hour ago, Botzwana said:

Oh yeah.  I already found mine to construct down here.  Complete with wrestling ring!

2 ACRE HOME.jpg

You are almost getting me to move to Mexico. Something isn't right here. People are trying to get here in the USA, but you say and show something different.

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01-04-2018 12:56 PM
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The Ministry of Oil announced on Sunday the export of more than 107 million barrels of crude oil during the month of March, indicating that the statistics did not record any exports from the fields of Kirkuk. 

The spokesman for the Ministry of Oil Assem Jihad that 'the amount of exports of crude oil for the month of March, according to preliminary statistics issued by the company marketing the oil (Sumo) amounted to 107 million and 50 thousand barrels', indicating that' the revenues of these exports amounted to more than 6 billion and 418 million And 58 thousand dollars, while not recorded statistics exports from the fields of Kirkuk '. 

Jihad added that 'the daily rate of exports amounted to 3 million and 453 thousand barrels', noting that 'the average price per barrel was 59,954 dollars'. 

Iraq exports crude oil currently from the southern ports in Basra after the cessation of northern exports as a result of the region's non-compliance with the oil agreement with the federal government.

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Oil: fiscal revenues for the month of March exceeded 6 billion dollars

 

 Since 2018-04-01 at 12:36 (Baghdad time)

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Baghdad Mawazine News

The Ministry of Oil announced on Sunday the rate of exports and revenues achieved for the month of March.

A spokesman for the ministry Assem Jihad, in a statement received / Mawazin News / a copy, "The total quantities exported from crude oil for the month of March from the oil fields in central and southern Iraq amounted to more than (107) million and (50) thousand barrels, Amounted to more than (6) billion and (418) million and (58) thousand dollars, "noting that" the statistics did not record exports from the fields of Kirkuk. "

Jihad pointed out that "the daily rate of exports amounted to (3) million and (453) thousand barrels," explaining that "the average price per barrel amounted to (59,954) dollars." Ended 29 / a 43

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2018/04/01    10:00 pm
 

Iraq raises crude oil production capacity to 6.5 million bpd

 
 

 

 

 
BAGHDAD (Reuters) - Iraq's cabinet approved on Sunday a plan to increase its crude oil production capacity to 6.5 million bpd by 2022, a government statement said. 

Iraqi Oil Minister Jabbar al-Luaibi said in January that the current production capacity was close to 5 million bpd . 

Iraq produces more than 4.4 million barrels per day (bpd) in line with the 14-member Organization of the Petroleum Exporting Countries (OPEC) agreement and some outside producers, including Russia, to cut supplies to boost crude prices. 

Iraq, OPEC's second largest producer after Saudi Arabia, plans to award oil and gas exploration and development contracts in 11 new concession areas on April 15.
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MESAN Refinery Company announced on Monday the commencement of civil works of the refinery, confirming the completion of 250 horizontal and main control points.
“The first phases of the civil works have been completed and the survey works have been completed. 250 horizontal and main control points have been completed. The first building of the civil works will be carried out later. The designs for the water station, which will feed the project and have been completed, Pending authentication “.
He added that “the water station and civil works of the fence of the refinery will be started 10 km long and 10 meters high, which is reinforced concrete.”
It is worth mentioning that the company Missan International Refinery, started (February 1, 2018), the implementation of the most important refinery in Iraq with a capacity of 150,000 barrels per day.
The governor of Maysan Ali Douai, that the refinery Maysan investment is the largest strategic project at the level of Iraq, while noting that the province will facilitate all procedures for the executing company and provide the security side.
The Committee of the Committee on Oil and Energy in the Council of Maysan province, that the refinery Maysan investment “a quantum leap” in the oil industry, indicating that the project will provide great employment opportunities for workers.
While the member of the Committee on oil and energy parliamentary Ali Faisal Fayadh, that the refinery Maysan will provide thousands of jobs and large amounts of hard currency, pointing out that the oil derivatives will be provided by the refinery will be the highest quality of the importer in proportion to the technology and high technology used for this project.

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Oil Minister Jabbar Ali al-Allaibi said on Monday that the ministry has achieved an important achievement to put it on the threshold of a new phase of the optimal investment of gas associated with oil operations.
This came during the ceremony of signing the gas investment contract associated with the fields of Nasiriyah and Gharraf with Baker Hughes General Electric Company with a capacity of 200 cubic meters per day.
“This contract represents an important addition to the gas sector in Dhi Qar province in particular and for Iraq in general, where Baker Hughes, one of the important arms of the company (GE) global work on the optimal investment of gas associated with the real Algraaf and Nasiriyah, The two fields more than 200 million standard cubic feet of gas per day, through the development using the latest equipment and technology and fast technology and advanced in the world.
“The project will also provide more than 1,000 tons per day of liquid gas and more than 900 cubic meters of condensate, as well as providing more than 500 jobs, as well as the need to build residential and recreational complexes and provide services to the people of the province of Dhi Qar.
“This contract will not be the last, there are many projects in the way we aim to develop the oil industry and the optimal investment of national wealth and increase the revenues from it in support of the national economy.”

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Oil Minister Jabbar Ali al-Allaibi said that the gas investment is an absolute priority of the ministry to stop wasting oil wealth and develop the gas industry in the country, which came during the opening ceremony and operation of gas processing plant in the field of Bazargan in Maysan province.
The minister said in a speech at the ceremony that the accompanying gas treatment project, which we are opening today, was designed to treat two million standard cubic meters of associated gas, which is equivalent to (71) million standard cubic feet per day, and will be used these quantities of gas to power units (44) megawatts, through which the operation of the units and production facilities in the oil fields and the surplus of the treated quantities will be supplied to the national power plants at a rate of (60) megawatts.
Al-Allaibi said that we stand in front of an economic building and a new achievement achieved thanks to the loyalists of the people of Iraq and the province of Maysan. This project is part of the important strategic plans prepared by the Ministry for optimal investment of associated gas and treatment to benefit from it and its introduction within the industry of liquid gas and condensate. The treasury of the Federal State through the export operations carried out by the Ministry of Oil for more than two years, as well as the Ministry of revenue to the State through the export of crude oil.
The minister pointed out that the ministry and through investment projects in cooperation and coordination between the national effort and specialized international companies, has achieved many achievements at the levels of production, export and gas industry, and in Missan Habiba achieved several achievements, including at the level of production rates of crude oil fields in the Missan Oil Company, Today 480 thousand barrels per day, which in itself is a major achievement of the province is achieved in a time period not more than several years since the establishment of the company, and the development projects are continuing in the fields of the company, where it is hoped to complete the third treatment plant in the field of Halafaya end of the year A production capacity of 200 thousand barrels per day will be the field of production Halfaya alone 400 thousand barrels which will increase production rates in the company to the highest levels.
The representative of the Chinese company Anbal said that the project was implemented in accordance with international standards and new technologies with 18 months and will provide the project to invest quantities of gas are used in the operation of turbines for electric stations in the field and in the national network

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Iraq’s oil ministry has signed a two-year contract with Anton Oilfield Services and Petrofac to operate the giant Majnoon oil field, two executives said on Thursday.
According to Reuters news agency, the two companies are scheduled to operate the field in the south of the country on behalf of the Iraqi oil company Basra, which receives the management of operations there from Royal Dutch Shell.
Shell announced its intention to exit the field, which began production in 2014, by the end of June.
The two officials said the Majnoon field contract with Anton and Petrofac could be renewed after two years.
The co-executive officers, one Iraqi and one foreign, asked not to be identified.

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Oil to / Mawazin News /: Companies from different countries have applied for investment pipeline "conductor Turkey"

 

 Since 2018-04-05 at 18:34 (Baghdad time)

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Special - Mawazine News

A spokesman for the Ministry of Oil, Assem Jihad, on Thursday, that many companies and different nationalities have made to invest in the project of pipeline to Turkey through Mosul, as he pointed to the formation of committees to negotiate with the companies advanced to choose the best offer.

"The project of pipeline cities to Turkey through Mosul is still in the process of discussions with the developed companies," Jihad told Mawazine News, noting that "the project is a major investment, and therefore the ministry will hold a series of meetings with the advanced companies to receive their offers."

He added that "committees have been formed for the purpose of negotiations with companies bidding for the end of the submission period," pointing out that "the companies that have submitted many and of different nationalities and will approve the Ministry of the best offer for its implementation."

The Ministry of Oil, announced in October last year 2017, begin to repair the pipeline for the transfer of oil running from the city of Mosul in the north of the country to Turkey and start receiving the offers of international investment companies.

From: Hussein Al - Nasser

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The disclosure of oil exports of Kurdistan during the month of March

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The disclosure of oil exports of Kurdistan during the month of March

 

07-04-2018 01:34 PM

 

The Euphrates -

 

Kurdistan exported more than three hundred thousand barrels of oil per day during the month of March, worth 682 million dollars. 

According to a document issued by the North Oil Company revealed that Kurdistan has exported 10 million and 189 and 948 thousand barrels during the month of March, an average of 328 and 708 thousand barrels per day, amounting to 682 million 726 thousand dollars. 

It is worth mentioning that there is a fog about the amount of oil exported from Kurdistan through the port of Ceyhan, Turkey, which is estimated at three hundred thousand barrels per day, because the region does not issue monthly data on the quantities of oil exported and revenues.

 

image.php?token=0eef415d4f0648c06ac07740

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BAGHDAD,— Iraqi Kurdistan Regional Government (KRG) has exported over 328,000 barrels of oil per a day during the month of March, Iraq’s Ministry of Oil said on Friday.

The total oil export for the month of March amounted to 10,189, 950 barrels of oil, according to a statement by Iraq’s North Oil Company.

The KRG is expected to have generated around $682,726,000 from oil exports the previous month if a barrel of oil sold for the price on the global market.

KRG’s oil exports downed sharply after Baghdad restored its authority over most of the region’s oil industry since a military operation against the Kurds in October 16.

KRG has not had access to the Kirkuk oil fields since Iraqi forces retook control of the oilfields from the Kurds in mid-October 2017 following Kurdish referendum on independence on September 25.

The five fields of Baba Gurgur, Havana, Bai Hassan, Jambu and Khabbaz have a total output of around 470,000 barrels of oil per day.

Kirkuk is believed to have close to 8.7 billion barrels of oil – approximately 30 percent of Iraq’s total oil reserves.

 

http://www.iraqnow.news/articles/11128

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Iraq intends to build a pipeline to export Kirkuk oil to Iran

BAGHDAD, April 9 (KUNA) - The federal government intends to build a pipeline to the Iranian city of Kermanshah to export oil extracted from Kirkuk to Iran, official sources in the Kirkuk provincial council confirmed.

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In this regard, a member of the provincial council of Kirkuk, Najat Hussein 'The federal government plans to extend the pipeline for the export of oil from the province of Kirkuk towards the province of Kermanshah, Iran, and Baghdad is considering the second option, the export of oil through Iranian ports, but it was stopped because of poor security conditions in Some of the bonding methods'. 
"We are currently working on reforming the oil pipeline in Vishkhabur source to Turkey, noting that the export of oil from the wells of the province is still suspended after the transfer of responsibility for the production of oil fields and export to the Federal Oil Ministry." 
Experts in the oil industry believe that extending such a pipeline to Iran will open broad economic horizons for Iraq, especially since the economic-trade relations between Iraq and Iran are good and have always witnessed steady growth in various fields.
It is noteworthy that the big disappointment happened in the export of oil from the fields of Kirkuk oil for the past four years, for many reasons, including the control of the organization calling the terrorist on some oil fields, and areas through which the export pipelines, as well as governing the northern Iraqi government some fields and the export of oil in isolation The federal government, but after the restoration of the federal government powers over Kirkuk and other disputed areas, against the backdrop of the Kurdish referendum held on the twenty-fifth of September last, the federal government is moving to develop plans and procedures to ensure the export of oil from the province duck Aiqa series and transparent, through a secure and multiple ports, and perhaps planning to extend the pipeline from Kirkuk to Kermanshah , Iran is part of this trend. 
Finished ** 2342

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10-04-2018 01:21 PM
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Oil Minister Jabbar Ali al-Allaibi announced on Tuesday the total exports of Basra Gas Company during the first quarter of this year, where 9 shipments of condensate condensate and 21 shipments of liquid gas were exported. 

Al-Luaibi said in a statement that the Basrah Gas Company has exported 9 shipments of gas condensate, with a total of 188838 cubic meters exported this year, pointing out that 21 shipments of liquid gas (cooking gas) Where the total exported of this article during the first quarter of the current year (about 73740) metric tons'. 

He added that 'it is expected to increase the export rates of gas and gas condensate for this year 2018 compared to last year 2017'.

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Kurdistan oil lawsuit moves forward

Iraq's Federal Supreme Court will finally hear a six-year-old case on the fundamental constitutional conflicts that underpin Baghdad-Erbil oil disputes.
Kurdistan oil lawsuit moves forward
Workers fill trucks at the Shaikan oil field. (SEBASTIAN MEYER/Metrography/Iraq Oil Report)
By BEN VAN HEUVELEN, BEN LANDO AND STAFF of Iraq Oil Report
Published Tuesday, April 10th, 2018
Iraq's highest judicial authority will soon hear a long-delayed case that challenges the legality of the Kurdistan Regional Government's (KRG) independent operation of its oil sector.

If successful, the federal government's lawsuit would tilt the balance of political power further towards Baghdad and elevate the legal risks faced by both producers and buyers of KRG crude.

https://www.iraqoilreport.com/news/kurdistan-oil-lawsuit-moves-forward-28812/

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Iraq’s Supreme Court considers lawsuit against Kurdistan’s oil export

Sangar Ali Sangar Ali |
April 09-2018     02:45 PM

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Iraq’s Supreme Court considers lawsuit against Kurdistan’s oil export
An Iraqi worker operates valves in Nihran Bin Omar field north of Basra, 340 miles (550 kilometers) southeast of Baghdad, Iraq. April 2, 2017. (Photo: AP)
 

ERBIL (Kurdistan 24) – The Federal Supreme Court of Iraq on Monday announced they are beginning deliberations on a possible lawsuit to challenge the Kurdistan Region’s independent oil exports abroad, initiated by the Kurdish government of the semi-autonomous region in 2014.

In its statement, the court mentioned it had decided to “include the Iraqi Prime Minister [Haider al-Abadi], Iraqi Finance Minister [Salman Jumaili], Prime Minister of the Kurdistan Region [Nechirvan Barzani], in addition to their functions, as third persons in the lawsuit due to constitutional, political, and financial aspects.”

The statement adds that the Supreme Court held a session on Monday, chaired by Judge Medhat al-Mahmoud. The lawsuit, initiated by the Iraqi Oil Minister, Jabbar al-Luaibi, against the Kurdistan Region’s Natural Resources Minister, Ashti Hawrami, was reviewed.

The court added that parties mentioned in the lawsuit had also participated in a hearing, where the Iraqi Oil Ministry asked for the export of oil by the Kurdistan Regional Government (KRG) to cease, and for amounts sold in the past to be repaid to the Iraqi federal government.

“To provide sufficient time for all parties to present their case, we have deferred the appeal to 6/5/2018,” the court explained.

The KRG began to independently export its oil to international markets through Turkey’s Ceyhan port in 2014 after the Federal Government of Iraq cut the national budget share of the Kurdistan Region at the start of the same year.

The export of oil sparked tensions between Erbil and Baghdad. Oil revenue distribution has been one of the most pressing issues between the two governments.

The Kurdish semi-autonomous region currently exports 328,000 barrels per day of oil to Turkey, according to the Ministry of Natural Resources report, released earlier this month.

Editing by Nadia Riva

http://www.kurdistan24.net/en/news/6fcee2fc-975b-4c08-ba80-b452b823be2a

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Oil Minister Jabbar al-Luaibi announced on Tuesday 10 April 2018 the export of 9 shipments of gas condensates and 21 shipments of liquid gas during the first quarter of this year.
Al-Allaibi said in a statement, followed by the Iraqi Economic Center, that “the ministry has exported 9 shipments of gas condensate, with a total of about 188,838 cubic meters exported, and 21 shipments of liquid gas” cooking gas ” The total exported of this article during the first quarter of the current year about 73 thousand and 740 metric tons.
He predicted “the increase in export rates of gas condensate and liquid gas for this year 2018 compared to last year 2017.”

http://en.economiciraq.com/2018/04/10/the-ministry-of-oil-announces-the-export-of-30-consignments-of-liquid-gas-and-condensate/

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The Oil Ministry on Tuesday called on US oil companies to increase their presence in the field of oil and gas in Iraq.
“The oil minister, Jabbar al-Luaibi, received the US ambassador to Baghdad, Douglas Silliman, and the delegation accompanying him. During the meeting, they discussed ways to strengthen bilateral cooperation in the oil and gas sector,” the ministry said in a statement.
Al-Luaibi stressed the importance of strengthening relations and developing them in all fields, especially in the oil and gas industry. He called for increasing the presence of US oil companies and their participation in investment in this sector as well as in the sectors of refineries and infrastructure. Strategic projects that provide the state budget with additional financial returns during the development of this important vital sector. ”
For his part, US Ambassador Douglas Silliman, “the desire of his country’s companies to enhance cooperation with Iraq at all levels, especially in the oil industry gas.”

http://en.economiciraq.com/2018/04/10/iraqi-oil-ministry-calls-on-us-companies-to-increase-their-presence-in-iraq/

 
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Yes Sir let's finally get down to the real reason we invaded this God forsaken country

in the first place. It's only taken 27 years to admit the truth. Go Truth Go RV

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