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


yota691
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HEY EVERYBODAE'!!!

 

Check THIS Out!!!

 

image.png.37c9c106b7809ff63f43dd5c7deedc59.png

 

https://quotes.ino.com/charting/index.html?s=NYMEX_CL.N19&t=f&a=&w=&v=s

 

WOWZERS!!!

 

Dude Oil Futures ARE NEAR the $56/barrel Bicraqi Iraqi 2019 Budget Baseline!!!

 

image.png.5bb8bbe2377f6d46239ddc8b1d0a479f.png

 

https://quotes.ino.com/charting/index.html?s=NYMEX_CL.N19&t=f&a=&w=&v=d12

 

SOMEBODY(IES) are NOT happy with SOMETHIN'!!!

 

Could it REALLY be the Insanians CAN NOT sell Crude Oil SO ............................. Dude Oil Futures Prices DO NOT matter WHEREAS the Bicraqi Iraqi CAN SELL a WHOLE BUNCH of Crude Oil SO ...................... Dude Oil Futures DO matter to the Bicraqi Iraqi for budget AND THEE budget surplus THEY have announced TODAY!!!

 

SOFT Spanctions on the Bicraqi Iraqi SO ............................. THEY GET CRACKIN'???!!!

 

HARD Spanctions ABOUT to hit the Bicraqi Iraqi???!!!

 

Abadi (FORMER Bicraqi Iraqi PM) RESIGNS from the DAWA Party???!!!

 

SOMETHINZ UP!!!

 

Well, OK.....................................................................

 

Could be somethin'. Could be nothin'.

 

Ah, blame it on the Whirled Economy wind down/melt down due to the impasse on The United States Of America AND China Trade Negotiations Completion.

 

I (NOTE: I) believe THIS IS ALL related AND once the Insanians, to INCLUDE the Insanian IRGC, ARE EFFECTIVELY DEALT WITH, the LOG JAM WILL CLEAR!!!

 

:backflip:   :backflip:   :backflip:

 

In The Mean Time..................................................................................

 

The "Standard" "Disclaimer" APPLIES..................................................

 

AND (of course).....................................................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

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  • yota691 changed the title to Iraq's oil exports from southern ports rise in May
 
15497.jpg
A worker in the Majnoon oil field in southern Iraq. "Reuters"
  

 energy


Economy News Baghdad

Iraq has lifted the state of emergency declared in the Majnoon oil field in the south of the country due to floods, Iraqi Oil Minister Thamer al-Ghadhban said on Saturday.

The minister said in a statement published by the Ministry of Oil on its website that the floods did not affect the production in the field, which produces 240 thousand barrels per day.

He added that the state of emergency was announced as a precautionary measure because of floods that swept through the region during the winter and spring.

The state-run Basra Oil Company took over operations in the field after Royal Dutch Shell withdrew last year.

Iraq announced plans to increase production in the field of Majnoon to 450 thousand barrels per day in 2021.


Views 38   Date Added 06/01/2019

 
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Iraqi oil exports exceed 110 million barrels in May

Iraqi oil exports exceed 110 million barrels in May
Oil of Iraq
 01 Jun 2019 10:10 PM

BAGHDAD - The Iraqi Oil Ministry announced on Saturday that more than 110 million barrels of oil had been exported in May, with financial revenues exceeding US $ 7 billion.

The ministry said in a statement on its website that the total exports of Iraqi crude oil through the Iraqi oil marketing company (Sumo) last month amounted to 110 million and 736 thousand barrels of oil with a daily export rate of 3.572 million barrels per day.

Financial imports from these exports amounted to US $ 7 billion and US $ 384 million with a sales rate of US $ 66.6 per barrel .

 The Iraqi Oil Ministry announced the export of about 104 million barrels of oil in April and the financial revenues exceeded seven billion US dollars .

The ministry said total Iraqi crude exports rose to 3.572 million barrels per day on average in May, compared with 3.466 million bpd in the previous month .

Oil exports from Basra ports in the south of the country averaged 3.441 million bpd in May, up from 3.354 million bpd in April, the ministry said.

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Iraqi oil: $ 7.38 billion in export revenues for May

Iraqi oil: $ 7.38 billion in export revenues for May
Iraqi Ministry of Oil
 02 Jun 2019 10:38 p

Direct: The Iraqi Oil Ministry revealed the total exports and revenues achieved for the month of May last, according to preliminary statistics issued by the Iraqi oil marketing company "Sumo".

The ministry said in a statement that the amount of exports of crude oil amounted to more than 110.736 million barrels.

Revenue was $ 7.384 billion of those exports, the ministry said.

A spokesman for the Ministry of Oil, the total amount of exported crude oil for the month of May last of oil fields in central and southern Iraq amounted to 106.675 million barrels.

Asim Jihad, the exports of Kirkuk fields through the port of Ceyhan amounted to 3.166 million barrels, while the quantities exported from the field Qayara 894.528 thousand barrels.

Jihad pointed out that the total daily rate of exports amounted to 3.572 million barrels, indicating that the daily rate of export from the ports of Basra amounted to 3.441 million barrels, and Ceyhan daily rate was 102 thousand barrels, while the daily rate of the field Qayara 29 thousand barrels .

 The spokesman for the ministry, that the average price per barrel was 66.683 dollars.

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Iraq chooses Hyundai for $ 2.4 billion project
03 June, 2019

Iraq has chosen Hyundai Engineering and Construction to build a $ 2.4 billion seawater treatment and injection project, an important project to increase the country's oil production capacity, said Ihsan Abdul Jabbar, director of the state-run Basra Oil Company.

Abdul Jabbar told reporters late on Sunday that giving the deal to Hyundai still required final approval from the Oil Ministry.

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2019/06/03 10:46

Iraq contracts with Hyundai to increase its oil production capacity

http://almasalah.com/ar/news/172263/العراق-يتعاقد-مع-شركة-هيونداي-لزيادة-قدرته-على-إنتاج-النفط

 

BAGHDAD (Reuters) - Iraq is set to make a deal with South Korea's Hyundai Engineering and Construction to build a $ 2.4 billion water injection project that will help boost the country's oil production capacity.

According to the director of the company, "Basra Oil," Ihsan Abdul-Jabbar, that granting the deal to "Hyundai" still requires the final approval of the Iraqi Oil Ministry.

He added that the project must be completed within 4 years, and initially produce 5 million barrels of water per day and eventually to reach 7.5 million barrels per day of water.

Iraq, OPEC's second-largest oil producer, needs to inject water into its wells, otherwise risk losing pressure in its wells and facing significant declines, particularly in its old oilfields. The use of treated seawater is one of the best alternatives to fresh water that Iraq has been experiencing in recent yea

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15519.jpg
Hyundai Engineering and Construction logo on the company's headquarters in Seoul, capital of South Korea."Reuters"
  

 energy


Economy News Baghdad

Iraq has chosen Hyundai Engineering and Construction to build a $ 2.4 billion seawater treatment and injection project, an important project to increase the country's oil production capacity, said Ihsan Abdul Jabbar, director of the Basra Oil Company.

Abdul Jabbar told reporters late on Sunday that giving the deal to Hyundai still requires final approval from the Oil Ministry.

He added that the project must be completed within four years and initially produce five million barrels of water per day and eventually to reach 7.5 million barrels per day of water.

Iraq, OPEC's second-largest oil producer, needs to inject water into its wells or risk losing pressure and facing significant declines, particularly in its old oilfields. The use of treated seawater is one of the best alternatives because freshwater is scarce resources in Iraq.


Views 43   Date Added 03/06/2019

 
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Iraq chooses Hyundai to build a $ 2.4 billion seawater treatment and injection project

Economy | 08:44 - 03/06/2019

 
image
 
 

BAGHDAD ( 
Reuters) - Iraq has chosen Hyundai Engineering and Construction to build a $ 2.4 billion seawater treatment and injection project, an important project to increase the country's oil production capacity, according to Reuters, Ihsan 
Abdul Jabbar, Granting the deal to Hyundai still requires final approval from the Ministry of Oil. " 
"The project must be completed within four years and initially produce five million barrels of water per day, with an eventual production capacity of 7.5 million barrels per day of water," he said. 
Iraq, OPEC's second-largest oil producer, needs to inject water into its wells or risk losing pressure and facing significant declines, particularly in its old oilfields. The use of treated seawater is one of the best alternatives because fresh water is scarce resources in Iraq

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Iraq increases oil revenue in May despite falling global prices

By Rudaw 33 minutes ago

http://www.rudaw.net/english/business/050620191

An employee stands at the Zubair oil and gas field, north of the southern Iraqi province of Basra on May 9, 2018. File photo: Haidar Mohammed Ali | AFP
 
An employee stands at the Zubair oil and gas field, north of the southern Iraqi province of Basra on May 9, 2018. File photo: Haidar Mohammed Ali | AFP
ERBIL, Kurdistan Region — Through increased exports in the volume of oil, Iraq took $7.38 billion in revenue for May compared to $7.11 billion in April, according to Baghdad.

On average, Iraq exported 3.572 million barrels per day (bpd) in May.

The average price per barrel sold was $66.683 — slightly down from the $67.419 mark in April, according to the Iraqi Ministry of Oil. 

However in total, Iraq exported nearly 111 million barrels in May, compared to 104 million barrels in April. 

The exports consisted of 3.441 million bpd per southern oil fields, 102,000 bpd from Kirkuk, and 29,000 from Qayyara. 

Price for Brent Crude Oil traded internationally around $70 per barrel in early May, but fell sharply through the month to under $64 at the end of the month.

Total oil exports from Kirkuk — which had dropped from 3.06 million barrels in March to 2.57 million barrels in April — rebounded to about 3.16 million barrels for May.

Kirkuk averaged 102,000 bpd of exports through the Ceyhan pipeline that terminates in the Turkish port. 

 

Iraq's increased supply coincides with US sanctions targeting Iran a reduction of the Islamic Republic's exports from 2.5 million bpd in April 2018 to as little as 400,000 bpd, according to recent reports

 

0x0-russian-iraqi-crude-replaces-iranian

S&P Global Platts, a leading energy and commodities industry source, reported in May that Iraq was among the countries benefiting from the sanctions.


"Producers of heavy and medium sour crudes like Saudi Arabia, Russia, UAE, and Iraq are amongst the winners from US sanctions aimed at Iranian shipments," it reported

Turkey, which says it is abiding by US sanctions not to purchase oil from Iran, has increased oil imports from Iraq to make up for the gap, according to Turkey's energy watchdog, the Energy Market Regulatory Authority. 

Turkey was one of eight waivers that received initial waivers by the United States to wean itself off of Iranian oil. The others were Italy, India, China, Japan, South Korea, and Taiwan. 

The Organization of the Petroleum Exporting Countries (OPEC), of which Iraq is a founding and the second-most producing member, has previously said that it wants to prevent oversupply in the global market which would lower prices.

 

Brent Crude prices continued to slide on Wednesday, trading around $60 on Monday morning. 


OPEC members are expected to meet later this month or in July to strategize for the second half of this year.
Edited by 6ly410
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The Most Crucial Pipeline Of The Middle East?

Profile picture for user Tyler Durden
Sun, 06/09/2019 - 20:30
 

Authored by Vanand Meliksetian for Oilprice.com,

Contemporary Middle Eastern history is strongly influenced by energy politics. Besides providing revenue for the state’s coffers, oil is also a potent geopolitical tool in the hands of resource-rich countries. Recently, officials from Lebanon, Syria and Iraq have engaged in talks to restart the dysfunctional pipeline that once connected oilfields near Kirkuk in Iraq with the coastal city of Tripoli in Lebanon. Restarting the pipeline could have long-term political, economic, and strategic consequences for the involved states and the wider region.

The original infrastructure was constructed during the 30s of the previous century when two 12-inch pipes transported oil from Kirkuk to Haifa in British mandated Palestine and Tripoli in French-mandated Lebanon. The Tripoli line was supplemented by a 30-inch pipeline in the 50s which could transport approximately 400,000 barrels/day. The Kirkuk-Tripoli pipeline was suspended by Syria during the Iraq-Iran war in an attempt to support Tehran in its struggle against Baghdad.

 

1559946159-o_1dcq0ihig8kpktpfbcqfgtnb8.p

 

(Click to enlarge)

Paving the way

The current political climate, which has enabled cooperation between Lebanon, Syria, and Iraq, is the consequence of one country’s foreign policy. Since the U.S. invasion of Iraq and the overthrow of Saddam Hussein, Iranian influence has grown considerably across the Middle East. Tehran’s support for proxies in neighboring countries has strongly influenced regional politics and made Saudi Arabia nervous of what it sees as “Persian encroachment”.

The Iranian support for Syria’s President Assad provided a lifeline to the regime during the country’s civil war. Tehran has invested significantly in maintaining the position of its ally in Damascus. In neighboring Iraq, the democratization process installed a Shia-dominated parliament which is supported by powerful paramilitary groups funded and organized by the Quds force, the branch of Iran’s Revolutionary Guard responsible for extraterritorial activities. Despite significant military and political gains, consolidation is required to cement the ties between Iran’s Arab partners, which would also benefit Tehran.

The art of the deal

While Iran’s participation in regional politics was necessary for creating the right environment for cooperation, Russia's involvement has proven to be crucial. The Kremlin’s decision to participate in the Syrian civil war on the side of Assad’s forces was a pivotal moment in reestablishing control over territories essential for the Kirkuk-Tripoli pipeline to commence operations. Moscow has also established good political relations with both Iraq and Lebanon to become a broker for facilitating an agreement.

The participation of Rosneft was very useful for Moscow’s efforts in the region. The Russian energy giant maintains good relations with the Iraqi government where it operates several oil fields and the Kirkuk-Ceyhan oil pipeline. Recently, Rosneft signed an agreement with the Lebanese government to operate the storage facility in Tripoli for the next twenty years. Therefore, Russian involvement was important for the Arab countries to consider refurbishing the outdated Kirkuk-Tripoli pipeline. 

Despite the modest capacity of the pipeline, reestablishing trade could have a long-term impact on regional politics. The new pipeline would be a physical link between the participating countries and will cement the political ties for decades due to interdependency regarding energy security and the economic interest of energy exports.

Uncertainties ahead

Despite the intention to reinvigorate the old Kirkuk-Tripoli pipeline, it remains unclear whether the project will see the light of day. Especially the situation in Syria creates a veil of uncertainty which makes construction and operation a problematic task. Although the Syrian government has reestablished control over Eastern Syria, IS remains a threat to stability with attacks being an almost daily occurrence. It is uncertain whether the depleted and exhausted Syrian army will be able to secure the pipeline while engaging the remaining rebel-held areas in Idlib.

 

d8a9acabffad66eaf2762a42cf285e46.jpg

Also, it can be expected that Washington won’t idly sit by while its rivals in Moscow and Tehran entrench themselves even further in the region. Therefore, for now at least, talks of reinvigorating the pipeline will continue behind closed doors until the security situation improves significantly.

https://www.zerohedge.com/news/2019-06-09/most-crucial-pipeline-middle-east

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  • yota691 changed the title to Central Bureau of Statistics: Oil production for the first quarter of 2019 amounted to 408 million barrels
 
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The Central Bureau of Statistics, on Saturday, the indicators of Iraqi oil production for the first quarter of 2019, indicating that production in this period amounted to 408 million barrels.

"The amount of crude oil produced for the first quarter of 2019 amounted to 408 million and 585 thousand barrels," the agency said in a statistic seen by Alsumaria News. 

He added that "the amount of exports of crude oil amounted to 357 million and 800 thousand barrels," noting that "the average price of a barrel of $ 60.4 dollars."
 

The Ministry of Oil announced in its statistics that the value of revenues derived from oil exports for the first quarter amounted to 18 billion and 330 million dollars.
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The Iraqi Oil Marketing Company (SOMO) announced on Tuesday the final statistics of the total oil exports and revenues achieved for the month of May, noting that the quantities exported were loaded by 40 international companies.

"The volume of exports of crude oil according to the final statistics for the month of May amounted to 110 million and 737 thousand and 293 barrels, with revenues of 7 billion and 329 million and 737 thousand dollars," said Sumo of the Ministry of Oil in a statement received by Alsumaria News.
 

He added that "the total quantities exported from crude oil fields in central and southern Iraq amounted to 106 million and 675 thousand and 881 barrels, with revenues amounted to 7 billion and 89 million and 555 thousand dollars." 

"The quantities exported from Kirkuk through the port of Ceyhan amounted to 3 million and 166 thousand and 261 barrels, with revenues amounted to 209 million and 175 thousand and 253 dollars, while the exports of the field Qayara 895 thousand and 151 barrels of revenue amounted to 31 million and 600 thousand and 240 dollars."
 

"The average price of a barrel was 66.190 dollars," pointing out that "the exported quantities were loaded by 40 international companies of different nationalities, from the ports of Basra and Khor al-Amiyah and the monsoons on the Gulf and the Turkish port of Ceyhan." 

Iraq is exporting crude oil currently from the southern ports in Basra, and some quantities of the northern port of Kirkuk oil fields.
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Deputy: Iraq has achieved oil revenues equivalent to the budget of two countries in three months

11:29 - 24/06/2019
0
%D8%A2%D8%B1%D8%A7%D8%B3-%D8%AD%D8%A8%D9

BAGHDAD, Iraq - Iraq 's oil revenues in the first quarter of 2019 are equivalent to two states in three months, 
Iraqi National Congress (INC) Secretary General Aras Habib Karim revealed on Monday In the first quarter of 2019 Iraq achieved oil revenues equivalent to the budget of two neighboring countries, " Karim said in a statement received by Al-Maaloumah "In these two countries there are no slums like ours, because their money is less and their health and social situation is better, while our money is more and our disasters are worse," Habib said.
"I do not absolve myself. The entire political class bears responsibility for this reality, but the difference is that while there is someone who realizes the reality in the hope of a solution, there are those who follow the policy of denial, and this is the catastrophe." Ending / 25

https://www.almaalomah.com/2019/06/24/413488/

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1 minute ago, Butifldrm said:

Deputy: Iraq has achieved oil revenues equivalent to the budget of two countries in three months

11:29 - 24/06/2019
0
%D8%A2%D8%B1%D8%A7%D8%B3-%D8%AD%D8%A8%D9

BAGHDAD, Iraq - Iraq 's oil revenues in the first quarter of 2019 are equivalent to two states in three months, 
Iraqi National Congress (INC) Secretary General Aras Habib Karim revealed on Monday In the first quarter of 2019 Iraq achieved oil revenues equivalent to the budget of two neighboring countries, " Karim said in a statement received by Al-Maaloumah "In these two countries there are no slums like ours, because their money is less and their health and social situation is better, while our money is more and our disasters are worse," Habib said.
"I do not absolve myself. The entire political class bears responsibility for this reality, but the difference is that while there is someone who realizes the reality in the hope of a solution, there are those who follow the policy of denial, and this is the catastrophe." Ending / 25

https://www.almaalomah.com/2019/06/24/413488/

Then do something about it!  I have a crazy idea, increase the exchange rate of the Dinar!

 

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  • yota691 changed the title to Iraqi oil: $ 7.3 billion of oil exports in May

Iraqi oil: $ 7.3 billion of oil exports in May

Iraqi oil: $ 7.3 billion of oil exports in May
Iraqi Ministry of Oil
 26 June 2019 12:59 PM

RIYADH (Reuters) - Iraq's oil ministry said it earned revenues from oil exports in May 2019 worth $ 7.329 billion.

The ministry said in a statement that the total oil exports last month amounted to 110.737 million barrels, according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO).

A total of 106,675 million barrels of crude oil were exported from central and southern oilfields last May, with revenues of $ 7.089 billion, a ministry spokesman said.

Asim Jihad, said that the exported quantities of Kirkuk oil through the port of Ceyhan amounted to 3.166 million barrels, with revenues amounted to 209.175 million dollars, while the exports of the field Qayyarah 895.15 thousand barrels, revenue amounted to 31.06 million dollars.

Jihad explained that the average price per barrel amounted to 66.190 dollars .

The ministry spokesman pointed out that the exported quantities were loaded by 40 international companies of different nationalities, from the ports of Basra and Khor al-Amayah and monoliths on the Gulf and the Turkish port of Ceyhan .

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  • yota691 changed the title to Iraq seeks to export oil across three lines and targets an increase of 2 million b / d

Iraq's oil exports reach three and a half million a day

Economy | 07:10 - 28/06/2019

 
image
 
 

BAGHDAD - 
Iraq's oil exports from its southern ports so far in June reached 3.44 million bpd, two oil officials said on Friday. 
"Average exports from southern Basra ports reached 3.441 million bpd in May," Reuters quoted oil officials as saying. 
"Maintenance work in a sector of a sea pipeline in the Gulf transporting crude oil to Basra ports has slowed shipments for three days in mid-June," said an official overseeing the export operations.

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 2019/07/02 06:02:45
 

The Ministry of Oil announced the total exports and revenues achieved for the month of June, according to preliminary statistics issued by the Iraqi oil marketing company "Sumo". 
The spokesman for the Ministry of Oil Assem Jihad said that the total quantities exported crude oil for the month of June from the oil fields in central and southern Iraq amounted to (101) million and (705) thousand barrels, while from the fields of Kirkuk through the port of Ceyhan exported quantities (3) million And (162) thousand and (559) barrel, while the quantities exported from the Qayara field (735) and (548) barrels. 
He pointed out that the daily average of exports amounted to (3) million and (520) thousand barrels, where the daily rate of export from the ports of Basra (3) million and (390) thousand barrels, and Ceyhan was the daily rate (105) thousand barrels, The daily average of the Qayara field was 25 thousand barrels. 
Jihad said the average price per barrel amounted to (60,578) dollars.
He pointed out that the export revenues amounted to (6) billion and (397) million and (172) thousand dollars.

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16016.jpg
 
  

 energy


Economy News _ Baghdad

 Iraq's oil exports from southern ports fell to 3.39 million bpd in June, two oil officials told Reuters on Tuesday.

Iraq's average exports from southern Basra ports were 3.441 million bpd in May. The two officials attributed the drop in exports to bad weather.


Views 22   Date Added 07/02/2019

 
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  • yota691 changed the title to Iraq signs deal with Dutch company on offshore oil export platform

Iraq signs deal with Dutch company on offshore oil export platform

Economy | 01:57 - 11/07/2019

 
image
 
 

BAGHDAD ( 
Reuters) - The Iraqi government said on Thursday it had authorized the oil ministry to sign an initial deal with Dutch naval services firm Boscelles to build a offshore oil export facility, and 
Prime Minister Adel Abdul Mahdi said on Tuesday his government was seeking to diversify export routes.

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  • yota691 changed the title to US report: Iraqi approach to extend an oil pipeline towards Syria
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