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Basra crude stopped at 3.6 million barrels in conjunction with the demonstrations

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IRAQ: US $ 6.3 BILLION INCOME IN JUNE

IRAQ: US $ 6.3 BILLION INCOME IN JUNE
Iraqi Ministry of Oil
 25 Jul 2019 12:01 PM

Direct: The Iraqi Ministry of Oil, the total oil exports and revenues achieved for the month of June last, according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO).

The ministry said in a statement that the revenues of oil exports during the last month amounted to 6.372 billion dollars.

Crude oil exports reached 105.603 million barrels in June 2019.

A total of 101.71 million barrels of crude oil were exported from oil fields in central and southern Iraq last June, with revenue of 6.16 billion dollars, a ministry spokesman said.

Asim Jihad said that the quantities exported from Kirkuk through the port of Ceyhan amounted to 3.16 million barrels, with revenues of 194.63 million dollars, while exports of the field Qayyarah 735.77 thousand barrels, revenues of 20.32 million dollars.

Jihad explained that the average price per barrel amounted to 60.347 dollars.

The ministry spokesman pointed out that the exported quantities were loaded by 39 international companies of different nationalities, from the ports of Basra and Khor al-Amaya and the single buoys on the Gulf and the Turkish port of Ceyhan.

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Economy News - Baghdad

The Iraqi oil marketing company "Sumo" said on Thursday that Indian oil companies followed by Chinese companies were the most buying of Iraqi oil during the month of June.

The "Sumo" in official statistics published on its official website and read "Economy News" that "the Indian companies were the most numerous among the other international companies to buy Iraqi oil and by 8 companies each of the 39 companies that bought oil during the month of June.

"Chinese companies came in second place with 7 companies, followed by US and South Korean companies with 4 companies each," Sumo said. "The rest were distributed to British, Italian, French, Turkish, Spanish, Russian, Japanese, Japanese, Portuguese and Kuwaiti companies."

Sumo pointed out that it "depends on the sale of Iraqi oil on the main criteria for contracting with the international oil companies large and medium, independent and government integrated vertically," noting that "the most prominent international companies that buy Iraqi oil is the Italian company Eni, the British BP, US company Oxon Mobil and Russian company Kazprom.


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BAGHDAD /

The Ministry of Oil announced on Sunday that the oil marketing company "Sumo" achieved revenues of more than 69 million dollars.
 

A spokesman for the ministry, Assem Jihad, said in a statement received by "Al-Ghad Press", a copy of it, that "the Iraqi Oil Marketing Company (SOMO) to achieve additional revenues to the State Treasury amounted to (69,942,056,90) US dollars for the sale and marketing of instant shipments of quantities during the period from June 2017 until the first week of July 2019. "

Jihad added that "this amount is additional revenue to the treasury of the state in addition to the basic revenue achieved from the sale of crude oil and export," noting that "the marketing company and by relying on the study and evaluation of the market and invest opportunities in it to achieve the best possible price premiums on the sale of instant shipments in a month This month, has achieved with the efforts of its staff success with the sale of two shipments of 3 million barrels of Basra heavy crude.
 

He pointed out that "the sale and marketing of three other shipments in the amount of (1.8) million and eight hundred thousand barrels of crude oil Kirkuk by announcing them as immediate shipments in accordance with the basis of marketing based on the study and evaluation of global markets." 
 

He added that "the total additional revenue expected to be achieved from this activity for the month of 2019 will be approximately (3,070,000) three million seventy thousand dollars," noting that "marketing the full quantities available for export in addition to the immediate sale of shipments, enhance the location and location of Iraq and increase Share in global markets. "
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Jordan: We will import 10,000 barrels of Iraqi oil per day

Economy | 08:33 - 31/07/2019

 
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Baghdad - Mawazine News 
Jordanian Minister of Energy and Mineral Resources, Hala Zwati, said that the talks with the Iraqi side during the recent visit to import 10 thousand barrels of oil per day. 
Zawati added that the import process will be from Kirkuk station in northern Iraq, and will go to the Jordanian oil refinery within two weeks. 
During a visit to Mafraq governorate, Hala Zwati said that Jordan is in the final stages of transporting oil through tanks. 
The Minister of Energy that the issue of import will be accompanied by the rehabilitation of Baghdad International Road. 
She pointed out that it is expected to move more goods and products to contribute to the development of the region

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Oil announces total exports of crude oil and revenue achieved last month

Economy | 02:25 - 01/08/2019

 
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BAGHDAD - 
The Ministry of Oil announced on Thursday the total exports and revenues achieved for the month of July. 
A spokesman for the Ministry of Oil Assem Jihad said in a statement received by "Mawazine News", a copy of it, "According to preliminary statistics issued by the Iraqi oil marketing company" Sumo ", where the amount of exports of crude oil (110) million (548) (731) million barrels (one hundred and ten million five hundred and forty-eight thousand seven hundred and thirty-eight barrels), with revenues of more than (6) billion and (760) million and (663) thousand dollars (six billion seven hundred and sixty million six hundred and sixty-three thousand dollars).
Jihad added that "the total quantities exported from crude oil for the month of July from the oil fields in central and southern Iraq amounted to (106) million and (500) and (15) barrels, either from the fields of Kirkuk through the port of Ceyhan exported quantities (3) (119) thousand and (578) barrels, while the quantities exported from the Qayara field (929) thousand and (145) barrels. 
He pointed out that "the daily average of exports amounted to (3) million and (566) thousand barrels, where the daily rate of export from the ports of Basra (3) million and (435) thousand barrels, and Ceyhan was the daily rate (101) thousand barrels, While the daily rate of the field Qayara (30) thousand barrels. 
Jihad said that "the average price per barrel reached (61.156) dollars." 
It is noteworthy that the ministry, through its belief in informing the people about the export operations and the revenues generated from it, took this monthly action.

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Iraq oil exports hit 3.566m bpd in July: Oil Ministry

Tankers at the Iraqi Al Basra Oil Terminal in the Northern Arabian Gulf - US Federal Government

Iraqi oil exports rose to 3.566 million barrels per day (bpd) in July from 3.52 million bpd the previous month, the Oil Ministry said in a statement.

Exports from the southern Basra oilfields reached 3.435 million bpd, up from 3.39 million bpd in June, it said.

Shipments from Iraq's northern Kirkuk oilfields to the Turkish port of Ceyhan averaged 101,000 bpd, the statement said.

The average sale price in July was $61.156 per barrel, generating around $6.76 billion in revenue, the ministry said.

Iraq is producing below its maximum capacity of nearly 5 million bpd, in line with a production-cutting agreement between OPEC and allies such as Russia which is aimed at supporting prices.

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Export of oil worth 6.7 billion dollars in July

 
Baghdad / Al-Sabah
The Ministry of Oil, the total oil exports and revenues achieved for the month of July, worth $ 6.76 billion, according to preliminary statistics issued by the Iraqi oil marketing company "Sumo".
"The total exports of crude oil for the month of July amounted to 110 million and 548 thousand and 738 barrels, with revenues amounted to 6 billion and 760 million and 663 thousand dollars," ministry spokesman Asim Jihad said in a statement received by Al-Sabah.
The Jihad, "The total quantities exported crude oil from the oil fields in central and southern Iraq amounted to 106 million and 500 thousand and 15 barrels, while from the fields of Kirkuk through the port of Ceyhan, the amounts exported 3 million and 119 thousand and 578 barrels, while the quantities exported from the field Qayara 929 thousand and 145 barrels. "
"The total daily average of exports amounted to 3 million 566 thousand barrels, as the daily rate of export from the ports of Basra 3 million and 435 thousand barrels, and Ceyhan was the daily average of 101 thousand barrels, while the daily rate of the field Qayara 30 thousand barrels" , Pointing out that "the average price per barrel was 61.156 dollars."
On the other hand, the General Administration of Customs announced on Friday, registered a significant increase in the volume of revenue achieved by most of their customs centers.
The Authority said in a statement received "morning" a copy of it, "has been recorded a significant increase in the volume of revenue achieved by most of their customs centers, most recently in the center of the Umm Qasr, the north of Basra, which achieved a revenue per day exceeded two billion dinars, while the customs center Trebil border adjacent to the side Jordanian revenue exceeded one billion Iraqi dinars. "
The Authority added that "this boom in the volume of revenues realized and collected as customs duties on imported goods comes in line with the directions that the customs administration has endeavored to implement to fight corruption, deal with cases of manipulation and evasion of fees, as well as facilitate the completion of customs transactions which encouraged traders to increase imports of goods And goods, which reflected positively on the high revenues of all customs centers.
"The revenues earned are included in the Ministry of Finance's account with the Central Bank of Iraq, which is subject to the audit of the Financial Control Bureau, thus recording the highest revenues to the general budget of the state after the oil revenues despite the challenges and obstacles and the acute shortage in the numbers of qualified personnel and the lack of minimum requirements, "He said.
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Parliamentary power: The management of "Somo" supported by some blocks that get their share of oil

 

32550.jpg?watermark=4
 
 

Baghdad, Iraq

A member of the oil and energy parliamentary committee, Uday Awad, on Sunday, the management of the company Sumo oil backed by some political blocs, indicating that these blocks get their share of crude oil continuously and supports the survival of the management of this company. Awad said that "Sumo company supported by several political blocs share (cake) among them, where some blocks have companies that receive crude oil on a daily basis and some monthly." He added that "most of the political blocs satisfied with the performance of the company and its management in particular, because they get their share," noting that "the waste and smuggling of oil makes the loss of Iraq on a daily basis 10 million dollars, while the blocks that get their shares of oil, This subject". Awad pointed out that "the management of the company Sumo backed by some political blocs, and therefore a big problem, we noted on more than one occasion"

 

Edited by 6ly410
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Iraq is close to leaving "Exxon Mobil" US and the agreement with "BP"

Economy | 08:47 - 08/08/2019

 
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BAGHDAD - 
Baghdad is close to a deal with the two companies, British "British" and Italian "Eni", to build two oil export pipelines, which were previously part of a huge deal with "Exxon Mobil" US. 
The news agency "Reuters" five Iraqi officials involved in the negotiations confirmed that the Italian and British companies, will be built to build two oil pipelines under the sea for export, for 400 million dollars. 
A few weeks ago, US energy giant Exxon Mobil appeared to be moving ahead with a $ 53 billion project to boost Iraq's oil production in its southern fields, an important step for the company's ambition to expand in the country, but officials said a combination of controversy over The contract and security concerns, heightened by rising tensions between neighboring Iran and Iraq, have hampered the deal.

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ihave a question, and that is why should iraq ever raise the value of the dinar ?when they are raking in billions of dollars without it going up, and competing in the world market ,couldnt they just play the game ?and make money ,and when needed ,beg for money like they have for the last 16 years and never raise the dinar ,It would seem this poor me game has been working for a long time ,why quit working  the game if it work????????????????? Please enlighten me where I could be wrong, or am wrong.

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Iraq is close to an agreement with British and Italian oil companies instead of Exxon Mobil

Economy | 12:03 - 09/08/2019

 
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BAGHDAD - 
Iraq is close to a deal with international oil companies BP and Eni on an export pipeline project originally planned to be part of a huge deal with the oil company, five Iraqi officials said on Friday. American giant Exxon Mobil. 
The sources, who asked not to be named because the discussions are not public, told Reuters Mawazine News that "under a proposed agreement worth $ 400 million, the British company BP and Italy's Eni will manage a plan to build two sea pipelines to export oil from southern Iraq through Gulf". 
"The pipeline work was planned to be part of a larger $ 53 billion project that Exxon appeared to be preparing to move forward earlier this year, but an agreement with Baghdad was halted due to contractual differences and security concerns," the officials said.
The 30-year-old giant is at the heart of Exxon's plans to expand into Iraq, OPEC's second-largest producer, and the fragmentation of plans from the deal could have a negative impact on the company's ambitions. 
BP and ENI talks with Baghdad follow Iraqi officials in June announcing Hyundai Engineering and Construction of South Korea to build a $ 2.4 billion seawater injection facility, another part of the deal that was under discussion with Exxon. 
ExxonMobil and Eni declined to comment, while BP has yet to comment.

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 energy


Economy News _ Baghdad

BAGHDAD (Reuters) - Iraq is close to a deal with international oil companies BP and Eni on an export pipeline project originally planned to be part of a huge deal with US oil giant Exxon Mobil, five Iraqi officials said on Friday. . 
The sources, who asked not to be named because the discussions are not made public to Reuters, and seen by the "economic news", said that "under a proposed agreement worth $ 400 million, British company BP and Italy's Eni will manage a plan to build two offshore pipelines to export oil from southern Iraq through Gulf". 
"The pipeline work was planned to be part of a larger $ 53 billion project that Exxon appeared to be preparing to move forward earlier this year, but an agreement with Baghdad was halted due to contractual differences and security concerns," the officials said.
The 30-year-old giant is at the heart of Exxon's plans to expand into Iraq, OPEC's second-largest producer, and the fragmentation of plans from the deal could have a negative impact on the company's ambitions. 
BP and ENI talks with Baghdad follow Iraqi officials in June announcing Hyundai Engineering and Construction of South Korea to build a $ 2.4 billion seawater injection facility, another part of the deal that was under discussion with Exxon. 
Exxon Mobil and Eni declined to comment, while BP has yet to comment.


Views: 7   Date Added: 09/08/2019

 
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Release date:: 2019/8/9 12:11 • 537 times read
Iraq cancels giant oil deal with Exxon Mobil
Iraq is close to a deal with international oil companies BP and Italy's Eni on an export pipeline project originally planned to be part of a huge deal with a company, five Iraqi officials said. American oil giant Exxon Mobil.
The sources, who asked not to be named because the discussions were not made public, told Reuters that under a proposed $ 400 million deal, BP and Italy's Eni would manage a plan to build two offshore pipelines to export oil from southern Iraq through the Gulf. 

Officials said the pipeline work was planned to be part of a larger $ 53 billion project that Exxon appeared to be gearing up for earlier this year, but an agreement with Baghdad was halted by contractual disputes and security concerns. 
The 30-year-old giant is at the heart of Exxon's plans to expand into Iraq, OPEC's second-largest producer, and the fragmentation of plans from the deal could have a negative impact on the company's ambitions.
BP and ENI talks with Baghdad follow Iraqi officials in June announcing Hyundai Engineering and Construction of South Korea to build a $ 2.4 billion seawater injection facility, another part of the deal that was under discussion with Exxon. 
Exxon Mobil and Eni declined to comment, while BP has yet to comment.
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Kalkamsh Press / Baghdad

Baghdad is close to a deal with the two companies, British "BP" and Italian "Eni", to build two oil export pipelines, which were previously part of a huge deal with "Exxon Mobil" US.

Five Iraqi officials involved in the negotiations confirmed that the two Italian and British companies would build two undersea oil pipelines for export, for $ 400 million, the Reuters news agency reported.

A few weeks ago, US energy giant Exxon Mobil appeared to be moving ahead with a $ 53 billion project to boost Iraq's oil production in its southern fields, an important step for the company's ambition to expand in the country, but officials said a combination of controversy over The contract and security concerns, heightened by rising tensions between Iran and Iraq, have hindered the deal.

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Iraq is close to a pipeline deal with BP and Eni instead of Exxon

 
 
2019/08/09    11:31 AM
 
 

 

العراق يقترب من إبرام اتفاق خط أنابيب مع بي.بي وإيني بدلا من إكسون

 
BAGHDAD (Reuters) - Iraq is close to a deal with international oil companies BP and Eni on an export pipeline project originally planned to be part of a huge deal with US oil giant Exxon Mobil, five Iraqi officials said. 

The sources, who asked not to be named because the discussions were not made public, told Reuters that under a proposed $ 400 million deal, BP and Italy's Eni would manage a plan to build two offshore pipelines to export oil from southern Iraq through the Gulf. 

Officials said the pipeline work was planned to be part of a larger $ 53 billion project that Exxon appeared to be gearing up for earlier this year, but an agreement with Baghdad was halted by contractual disputes and security concerns. 

The 30-year-old giant is at the heart of Exxon's plans to expand into Iraq, OPEC's second-largest producer, and the fragmentation of plans from the deal could have a negative impact on the company's ambitions. 

BP and ENI talks with Baghdad follow Iraqi officials in June announcing Hyundai Engineering and Construction of South Korea to build a $ 2.4 billion seawater injection facility, another part of the deal that was under discussion with Exxon. 

Exxon Mobil and Eni declined to comment, while BP has yet to comment.
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10-08-2019 02:22 PM
 

AMMAN - Iraq's oil ministry said on Saturday it was still in talks with US giant Exxon Mobil on a major deal to improve Iraq's oil infrastructure. 

The ministry said its agreement with BP and Italy's Eni to supply materials for two offshore oil pipelines for the purpose of qualifying them to ensure the transport of crude oil and export through the southern export system and is not part of the $ 53 billion project in southern Iraq for 30 years. 

The ministry said the failure to reach an agreement so far with Exxon does not mean the negotiations are finished or Exxon is excluded from the project. (Reuters)

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Oil explains the fact that Exxon Mobil was excluded from the integrated project in southern Iraq

Political | 10:53 - 10/08/2019

 
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BAGHDAD - The 
Ministry of Oil, on Saturday, the fact of exclusion of Exxon Mobil from the project of southern Iraq integrated. 
The ministry said in a statement received (Mawazine News) a copy, it "confirms the continuation of negotiations with the US company Exxon Mobil on the integrated project in southern Iraq, and that the failure to reach an agreement or the conclusion of a contract between the parties, does not mean the end of negotiations or (exclusion) Exxon Mobil. "Some news agencies have quoted and circulated unnamed officials."
She added: "As for the reported conclusion of the ministry or the Basra Oil Company for contracts with the British companies Bp and Italian Eni, and they are part of the above project, the ministry denies this news and refuses to manipulate information and facts by some journalists, and would like to clarify that the contracts with my company." BP and ENI "were limited to the processing of materials for two offshore oil pipelines for the purpose of rehabilitation to ensure the transfer of crude oil and export through the southern export system, within the ministry's plans to increase the treasury and export capacity aimed at achieving a high and smooth flow of crude oil from oil fields to export ports and stability , In fulfillment of its obligations and contracts with international companies in the interim and future plans, in addition to ensuring that the financial revenues of the federal treasury. "
The ministry pointed out that "large strategic projects require more time, research, negotiation, technical, financial, legal and other studies, and in the interest of the parties concerned, and that the government and the ministry aim to achieve the highest financial and economic benefit from these projects as required by the national interest."

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Iraq illustrates the real exclusion of "Exxon" American oil project

Iraq illustrates the real exclusion of "Exxon" American oil project
ExxonMobil
 10 August 2019 01:08 PM

Direct: The Iraqi Oil Ministry confirmed the continuation of negotiations with the US company Exxon Mobil on the integrated project in southern Iraq .

The ministry said in a statement on Saturday: "The failure to reach an agreement or the conclusion of a contract between the parties, does not mean the end of negotiations or" exclusion "of Exxon Mobil from this project, as quoted and circulated by some news agencies for unnamed officials !".

As for the reports of the ministry or the Basra Oil Company for contracts with the British companies "BP" and "Eni" Italian, and they are part of the project, the ministry denies the news and refuses to manipulate information and facts by some journalists .

She added that she would like to clarify that contracts with BP and ENI were limited to the processing of materials for two offshore oil pipelines for the purpose of qualifying them to ensure the transport of crude oil and export through the southern export system, within the ministry's plans to increase storage and export capacity, which aims to achieve a high and smooth flow Crude oil from oil fields to export outlets and stabilize .

The Ministry of Oil, that large strategic projects require more time and research, negotiation and technical, financial and legal studies, in the interest of the parties concerned .

It is noteworthy that the integrated South project includes a number of vital projects including (development of the fields of Omar bin Artawi, joint sea water supply project, expansion and development of storage system, transport and export, as well as the construction of two units for processing and manufacturing associated gas ).

According to the agency "Reuters", yesterday, that the State of Iraq is close to contract with the companies "BP" and "Eni" for an oil pipeline project .

Five sources told Reuters that Iraq was close to contracting with BP and ENI for an export-oriented oil pipeline project, instead of Exxon Mobil, which was planned to be part of a recent US company deal. .

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Release date:: 2019/8/10 10:52  283 times read
The Ministry of Oil denies the exclusion of Exxon Mobil on the project of southern Iraq integrated
Oil Ministry confirmed the continuation of negotiations with the US company Exxon Mobil on the integrated project in southern Iraq, and that the failure to reach an agreement or conclude a contract between the parties, does not mean the end of negotiations or {exclude} Exxon Mobil from this project, as quoted And circulated by some news agencies for unnamed officials!
The ministry said in a statement received by the agency (Euphrates News) a copy of the day "As for the reported on the conclusion of the ministry or the Basra Oil Company for contracts with the British companies Bp and Italian Eni, and they are part of the above project, the ministry denies this news and refuses to manipulate information and facts by Some journalists would like to clarify that contracts with BP and ENI were limited to supplying materials for two offshore oil pipelines for the purpose of qualifying them to ensure the transport of crude oil and export it through the southern export system, as part of the ministry's plans to increase the treasury and export capacity aimed at achieving a high and smooth flow of oil. Oil Crude oil fields to export outlets and stability, in accordance with its obligations and contracts with international companies within the interim and future plans, in addition to ensuring the financial revenues of the Federal Treasury.
`` Finally, the Ministry of Oil stresses that large strategic projects require more time, research, negotiation, technical, financial, legal and other studies, and in the interest of the parties concerned, and that the government and the ministry aim to achieve the highest financial and economic benefit of these projects as required by the national interest. '' 
It is noteworthy that the integrated South project includes a number of vital projects including (development of the fields of Omar bin Artawi, and the project of joint sea water supply, expansion and development of storage system, transport and export, as well as the construction of two units for processing and manufacturing associated gas).
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The Revival Of A $53 Billion Megaproject

By Irina Slav - Aug 12, 2019, 9:30 AM CDT

Iraq oil

The Iraqi government is still in talks with Exxon about a megadeal worth US$53 billion over three decades, Iraqi media reported, quoting the Oil Ministry of the country. The deal could bring in some US$400 billion into Baghdad’s coffers over its lifetime.

The deal, involving PetroChina as partner of Exxon, has been in the making for four years and will involve the development of two oil fields in southern Iraq—Nahr Bin Umar and Artawi—and the construction of water supply infrastructure to southern fields in order to keep their production steady.

 

As a result of the project, the combined production of Nahr Bin Umar and Artawi should hit half a million barrels of oil daily, up from 125,000 bpd as of May this year. The two fields could also yield some 100 million cu ft of natural gas once the project is implemented.

Yet two months ago reports surfaced that the deal was under threat. Contractual disagreements and a worsening security situation in the country were among the reasons for the troubles.

Reuters quoted unnamed sources close to the developments as saying the bone of contention was the manner in which Exxon wanted to be compensated for the investments and the work. The supermajor apparently wanted a production-sharing stipulation, which Baghdad opposed on the grounds that it would be at odds with its rule to keep oil production state-owned.

Now, the Iraqi Oil Ministry’s statement made a note of saying that the delay in finalizing the deal did not mean it had fallen through or that Exxon has been excluded from the race.

 

Iraq has made no secret of its oil production ambitions despite the OPEC-wide cuts aimed at keeping prices relatively high. The country produces less than 5 million bpd at present but hopes, with the help of the megaproject, to boost this to 6.5 million bpd by 2022.

By Irina Slav for Oilprice.com 

https://oilprice.com/Energy/Energy-General/The-Revival-Of-A-53-Billion-Megaproject.html

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Kalkamsh Press / Baghdad

The Undersecretary of the Ministry of Oil for liquidation, on Saturday, the high rates of production of Iraqi refineries of petrol fuel, gas oil and other oil products compared to the production rates last year.

"The production of gasoline has seen a daily increase of more than three million liters per day of this substance, which was added to the production last year, bringing the daily rate to 14 million and (293) thousand liters per day, compared to last year's production of about (11) million and (485) thousand liters per day.

He added that the production of gas oil fuel (kerosene) has also witnessed a remarkable increase, which increased nearly (4 million liters per day) compared to last year's production rates, thus increasing to (11) million and (228) thousand liters per day, after the rate of production last year was approaching Of (7) million and (836) thousand liters per day. ”

The Undersecretary for Liquidation Affairs said that “this increase is the result of the Ministry's plans to increase the production capacity of Iraqi refineries through the addition of new production units in the refineries of the south and central, as well as the reconstruction and rehabilitation of a number of refineries that have been sabotaged and destroyed in our dear northern provinces by Terrorist gangs, including the Al-Samoud refinery in Baiji. ”

For his part, ministry spokesman Assem Jihad, said that "this increase contributes to cover a large part of the local need for citizens and the electricity sector, as well as reduce the import rates of petroleum products from fuel (gasoline) and (gas oil), which provides hard currency for the federal treasury."

Jihad added that "the liquidation sector is currently witnessing a gradual and steady growth after years of security and economic challenges have directly affected the plans of the ministry," noting that "the ministry succeeded in exporting surplus liquid gas and condensate to global markets after meeting the local need of them."

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Iraq Moves To Upgrade Oil Export Capacity

By Simon Watkins - Aug 17, 2019, 4:00 PM CDT

Two factors make the urgent build-out of Iraq’s ailing and inadequate oil export infrastructure more essential than ever. The first is the increasingly dangerous security situation in the Persian Gulf following ***-for-tat seizures of vessels connected to the Iran and U.S. sides in the current geopolitical standoff, with more involvement expected shortly from Russia and China. The second is the continued growth in oil exports from Iraq, with sales in July from the whole of Iraq, including the semi-autonomous Kurdistan region of Iraq (KRI), averaging 4.007 million barrels per day (bpd), up from 3.946 million bpd the previous month and edging up to the record 4.159 million bpd last December.

As it stands, with Iraq’s oil exports around the 4 million bpd level, the infrastructure is just about able to cope but any significant movement above that level is not doable, Richard Mallinson, senior Middle East energy analyst for global energy consultancy, Energy Aspects, in London, told OilPrice.com last week. This would stymie Iraq’s core energy strategy of monetising increased crude oil production of 6.2 million bpd by the end of 2020 and 9 million bpd by the end of 2023.

“Virtually all export efforts in the Federal Government of Iraq [FGI, that does not include the KRI], are focussed on the Basra facility in the south, which means moving oil through the Persian Gulf, which puts it in the centre of the current security problem between the U.S. and Iran,” he said. Although Iraq’s Oil Ministry denied that the MT Riah tanker ship that was recently seized by Iran’s Islamic Revolutionary Guard Corps (IRGC) was not connected to Iraq, and it is unlikely that Iran would interfere with the ships of one of its close allies, the danger of an accident remains and the sky-rocketing insurance premia for all ships in the Persian Gulf impacts profit margins on all shipments for Iraq.

To get to Basra, oil is moved via internal pipelines but these are often unsound and need to be upgraded as soon as possible, Mallinson added. From there, oil makes its way into the Al-Fao main export depot, where it is stored and blended. “Here again, though, there has not been adequate investment and anything over current levels of oil coming in is not sustainable, meaning that oil supplies can be backed up in the oil fields themselves, which then means significant production bottlenecks,” he underlined. “This has also held up the roll-out of the Iraq’s new oil grade – Basrah Medium – that was to have added to the revenue streams generated by the existing Basrah Heavy and Basrah Light,” he told OilPrice.com.

Related: Growing Fear Of Global Economic Slowdown Caps Oil Price Gains

Before Islamic State (IS) run riot across Iraq, realistic plans had been in place to construct at least a further 12 full-time operational storage tanks and blending facilities in and around Al-Fao by the end of 2016, with the longer-term aim being for the Al-Fao station to have 24 stor age tanks each of 58 thousand cubic metres, for a total capacity of more than 8 million barrels. These plans have yet to be reactivated, given the standard level of Iraqi bureaucracy involved and the uncertain revenue projections arising from the differing oil price scenarios within the Oil Ministry. Once past Al-Fao, the situation is slightly more efficient as Al-Fao pumps the oil to the single-point moorings (SPMs) – there are now five, with four in constant use whilst the other undergoes regular maintenance - and some intended expansion in the capacity of the existing off shore terminal Al-Basrah (ABOT).

There was positive news just last week for the other main offshore terminal at Khor al-Amaya (KAAOT), which saw loading operations halted in 2017 when one of the two seabed pipelines that supplies the offshore facilities suffered ruptures and leakages and had to be shut. According to Iraq Oil Ministry sources, discussions are well advanced with BP and Eni to run a US$400 million project to replace two old seabed pipelines, including the KAAOT-related one, which was to have formed part of the overall Southern Iraq Integrated Project (SIIP) that the Oil Ministry has been on-and-off discussing with ExxonMobil.

Far from irritating ExxonMobil, taking this pipelines project out of the SIIP is likely to be welcomed by the U.S. major, as originally it was just to have focussed on – and financed - the build-out of the Common Seawater Supply Project rather than the much more expensive and unwieldy SIIP. Moreover, it is the CSSP that will be the absolute critical turning point for big increases in Iraq’s oil production and exports in the future.

Although the oil export routes to the North, and into mainland Europe via the Turkish port of Ceyhan, appears theoretically the better export option, the practical political considerations involved render the theory obsolete. The original Kirkuk to Ceyhan Pipeline, also called the Iraq-Turkey Pipeline (ITP) actually consisted of two pipes, which theoretically had a nameplate capacity of 1.6 million bpd combined (1.1 million bpd for the 46 inch diameter pipe, and 0.5 million bpd for the 40 inch one).

Even before IS entered the picture though, this pipeline was subject to repeated and ongoing attacks by various militant groups in the region, which led to the government of the Kurdistan region – the KRG – to oversee the completion of a single side track, from the Taq Taq field through Khurmala, which runs into the Kirkuk-Ceyhan pipeline in the border town of Fishkhabur, with a nameplate capacity of 0.7 million bpd, which was then increased to 1 million bpd. Further complicated by the ongoing disagreement with the KRG over the budget-for-oil deal struck in 2014, Baghdadinstead planned to renovate and re-open the Federal Government-owned oil pipeline section that runs from Kirkuk to Ceyhan, bypassing any Kurd control. “This would be a good play by Baghdad, if it can get around the political angle with the KRG,” said Mallinson. Related: Is This The Next Big Oil Disruption In The Middle East?

So, if Iraq cannot export safely through the South via Basra due to the U.S.-Iran standoff or to the North due to the FGI-KRI standoff, and can only move relatively minimal amounts of oil West to Iran on tanker lorries, Iraqi Prime Minister Adel Abdul Mahdi stated that the government is considering export routes through Syrian and Jordanian territory. Realistically, given the ongoing security situation in Syria, this option would appear at best unlikely to occur for many years. However, the plan does exist and, as originally envisioned, the pipeline would stretch some 800 kilometres from Kirkuk to Banias in Syria, via Haditha, with an initial nameplate capacity of 0.3 million bpd.

Russia was involved in the original plans for this, the first of which originated in 2007 but was annulled in 2009, when no progress had been made by Russian company Stroytrangaz, a subsidiary of hydrocarbons giant, Gazprom. The second, agreed in September 2010, involved building two new pipelines – one for Heavy crude (planned capacity of 1.5 million bpd, from the northern Baiji area), and one for Light (1.25 million bpd planned capacity, potentially connected to the southern fields of Majnoon, Halfaya, Badra, Ahdab, and East Baghdad).

An interesting corollary of this, OilPrice.com has been told exclusively by senior sources in the Iraq and Iran Oil and Petroleum Ministries, respectively, is that Russia is involved in discussions centred on this pipeline project, including offering all financing, which is entirely in line with the Russia-Iran plan for post-conflict Syria. “This plan is that alongside the movement of Iraq oil to Syria and then onto Europe and Asia, Iranian oil could flow through the same pipe and the same route and onto the same export destinations as well, and, later on, gas from South Pars to Syria and then into Europe,” said one of the sources.

Right now, though, the Jordan route is actually doable, with Baghdad keen and Jordan also having given the go-ahead. “But, we have often seen this announcement but nothing has happened, so don’t get too excited,” Mallinson underlined. Nonetheless, according to an official statement from Iraq’s Oil Ministry recently: “The Jordan project was voted upon by the Council of Ministers after its implementation was agreed upon with Oman and 1 million barrels of Iraqi oil will reach the port of Aqaba every day…We are currently studying investment offers from international companies that will establish the pipeline in return for a percentage that will be deducted for each exported barrel.”

Again, a very detailed plan has been in place from the period just before the IS troubles began, envisaging a twin gas and oil pipeline between Iraq and Jordan. The estimated US$4.5 billion 1,680 kilometre double pipeline would pump one million barrels of oil a day, and 258 million cubic feet of gas, from Basra to Aqaba, via Haditha. Around 150,000 barrels of the oil from Iraq would be used for Jordan’s domestic needs, whilst the remainder would be exported through Aqaba to various destinations, generating about US$3 billion a year in revenues to Jordan, with the rest going to Iraq.

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Iraq increases production of gasoline and gas oil at record rates

Iraq increases production of gasoline and gas oil at record rates
Iraqi oil - expressive
 17 August 2019 10:18 PM

Cairo - Mubasher: Undersecretary of the Iraqi Ministry of Oil for liquidation, on the high rates of production of Iraqi refineries of petrol fuel, gas oil and other petroleum products compared to the rates of production last year 

Hamed Younis said in a statement to the ministry on Saturday that gasoline production has witnessed a daily increase of more than three million liters per day of this article, was added to the production last year, bringing the daily rate to 14 million and 293 thousand liters per day, after the production of the year the past is about 11,000,485 thousand liters per day .

He added that the production of fuel oil gas (kerosene) has also witnessed a remarkable increase, which increased by nearly (4 million liters per day) compared to last year's production rates, thus increasing to 11 million and 228 thousand liters per day, after the rate of production last year approaching 7 million and 836 thousand Lt per day .

The Undersecretary for liquidation affairs, said that this increase was the result of the ministry's plans to increase the production capacity of Iraqi refineries through the addition of new production units in refineries south and central, as well as the reconstruction and rehabilitation of a number of refineries that have been sabotaged and destroyed in our dear northern provinces by Terrorist gangs, including the Al-Samoud refinery in Baiji .

For his part, ministry spokesman Assem Jihad said that this increase contributes to cover a large part of the local need for citizens and the electricity sector as well as reduce the import rates of petroleum products from fuel (gasoline) and (gas oil), which provides hard currency for the federal treasury .

Jihad added that the liquidation sector is currently witnessing gradual and steady growth after years of security and economic challenges have directly affected the plans of the ministry.

He pointed out that the ministry succeeded in exporting surplus liquid gas and condensate to global markets after meeting the local need of them .

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Iraq Moves To Upgrade Oil Export Capacity

By Simon Watkins - Aug 17, 2019, 4:00 PM CDT

 

Oil

 

Two factors make the urgent build-out of Iraq’s ailing and inadequate oil export infrastructure more essential than ever. The first is the increasingly dangerous security situation in the Persian Gulf following ***-for-tat seizures of vessels connected to the Iran and U.S. sides in the current geopolitical standoff, with more involvement expected shortly from Russia and China. The second is the continued growth in oil exports from Iraq, with sales in July from the whole of Iraq, including the semi-autonomous Kurdistan region of Iraq (KRI), averaging 4.007 million barrels per day (bpd), up from 3.946 million bpd the previous month and edging up to the record 4.159 million bpd last December.

As it stands, with Iraq’s oil exports around the 4 million bpd level, the infrastructure is just about able to cope but any significant movement above that level is not doable, Richard Mallinson, senior Middle East energy analyst for global energy consultancy, Energy Aspects, in London, told OilPrice.com last week. This would stymie Iraq’s core energy strategy of monetising increased crude oil production of 6.2 million bpd by the end of 2020 and 9 million bpd by the end of 2023.

 

 

“Virtually all export efforts in the Federal Government of Iraq [FGI, that does not include the KRI], are focussed on the Basra facility in the south, which means moving oil through the Persian Gulf, which puts it in the centre of the current security problem between the U.S. and Iran,” he said. Although Iraq’s Oil Ministry denied that the MT Riah tanker ship that was recently seized by Iran’s Islamic Revolutionary Guard Corps (IRGC) was not connected to Iraq, and it is unlikely that Iran would interfere with the ships of one of its close allies, the danger of an accident remains and the sky-rocketing insurance premia for all ships in the Persian Gulf impacts profit margins on all shipments for Iraq.

To get to Basra, oil is moved via internal pipelines but these are often unsound and need to be upgraded as soon as possible, Mallinson added. From there, oil makes its way into the Al-Fao main export depot, where it is stored and blended. “Here again, though, there has not been adequate investment and anything over current levels of oil coming in is not sustainable, meaning that oil supplies can be backed up in the oil fields themselves, which then means significant production bottlenecks,” he underlined. “This has also held up the roll-out of the Iraq’s new oil grade – Basrah Medium – that was to have added to the revenue streams generated by the existing Basrah Heavy and Basrah Light,” he told OilPrice.com.

 

Before Islamic State (IS) run riot across Iraq, realistic plans had been in place to construct at least a further 12 full-time operational storage tanks and blending facilities in and around Al-Fao by the end of 2016, with the longer-term aim being for the Al-Fao station to have 24 stor­age tanks each of 58 thousand cubic metres, for a total capacity of more than 8 million barrels. These plans have yet to be reactivated, given the standard level of Iraqi bureaucracy involved and the uncertain revenue projections arising from the differing oil price scenarios within the Oil Ministry. Once past Al-Fao, the situation is slightly more efficient as Al-Fao pumps the oil to the single-point moorings (SPMs) – there are now five, with four in constant use whilst the other undergoes regular maintenance - and some intended expansion in the capacity of the existing off­shore terminal Al-Basrah (ABOT).

 

 

There was positive news just last week for the other main offshore terminal at Khor al-Amaya (KAAOT), which saw loading operations halted in 2017 when one of the two seabed pipelines that supplies the offshore facilities suffered ruptures and leakages and had to be shut. According to Iraq Oil Ministry sources, discussions are well advanced with BP and Eni to run a US$400 million project to replace two old seabed pipelines, including the KAAOT-related one, which was to have formed part of the overall Southern Iraq Integrated Project (SIIP) that the Oil Ministry has been on-and-off discussing with ExxonMobil.

Far from irritating ExxonMobil, taking this pipelines project out of the SIIP is likely to be welcomed by the U.S. major, as originally it was just to have focussed on – and financed - the build-out of the Common Seawater Supply Project rather than the much more expensive and unwieldy SIIP. Moreover, it is the CSSP that will be the absolute critical turning point for big increases in Iraq’s oil production and exports in the future.

Although the oil export routes to the North, and into mainland Europe via the Turkish port of Ceyhan, appears theoretically the better export option, the practical political considerations involved render the theory obsolete. The original Kirkuk to Ceyhan Pipeline, also called the Iraq-Turkey Pipeline (ITP) actually consisted of two pipes, which theoretically had a nameplate capacity of 1.6 million bpd combined (1.1 million bpd for the 46 inch diameter pipe, and 0.5 million bpd for the 40 inch one).

Even before IS entered the picture though, this pipeline was subject to repeated and ongoing attacks by various militant groups in the region, which led to the government of the Kurdistan region – the KRG – to oversee the completion of a single side track, from the Taq Taq field through Khurmala, which runs into the Kirkuk-Ceyhan pipeline in the border town of Fishkhabur, with a nameplate capacity of 0.7 million bpd, which was then increased to 1 million bpd. Further complicated by the ongoing disagreement with the KRG over the budget-for-oil deal struck in 2014, Baghdad instead planned to renovate and re-open the Federal Government-owned oil pipeline section that runs from Kirkuk to Ceyhan, bypassing any Kurd control. “This would be a good play by Baghdad, if it can get around the political angle with the KRG,” said Mallinson.

So, if Iraq cannot export safely through the South via Basra due to the U.S.-Iran standoff or to the North due to the FGI-KRI standoff, and can only move relatively minimal amounts of oil West to Iran on tanker lorries, Iraqi Prime Minister Adel Abdul Mahdi stated that the government is considering export routes through Syrian and Jordanian territory. Realistically, given the ongoing security situation in Syria, this option would appear at best unlikely to occur for many years. However, the plan does exist and, as originally envisioned, the pipeline would stretch some 800 kilometres from Kirkuk to Banias in Syria, via Haditha, with an initial nameplate capacity of 0.3 million bpd.

Russia was involved in the original plans for this, the first of which originated in 2007 but was annulled in 2009, when no progress had been made by Russian company Stroytrangaz, a subsidiary of hydrocarbons giant, Gazprom. The second, agreed in September 2010, involved building two new pipelines – one for Heavy crude (planned capacity of 1.5 million bpd, from the northern Baiji area), and one for Light (1.25 million bpd planned capacity, potentially connected to the southern fields of Majnoon, Halfaya, Badra, Ahdab, and East Baghdad).

An interesting corollary of this, OilPrice.com has been told exclusively by senior sources in the Iraq and Iran Oil and Petroleum Ministries, respectively, is that Russia is involved in discussions centred on this pipeline project, including offering all financing, which is entirely in line with the Russia-Iran plan for post-conflict Syria. “This plan is that alongside the movement of Iraq oil to Syria and then onto Europe and Asia, Iranian oil could flow through the same pipe and the same route and onto the same export destinations as well, and, later on, gas from South Pars to Syria and then into Europe,” said one of the sources.

Right now, though, the Jordan route is actually doable, with Baghdad keen and Jordan also having given the go-ahead. “But, we have often seen this announcement but nothing has happened, so don’t get too excited,” Mallinson underlined. Nonetheless, according to an official statement from Iraq’s Oil Ministry recently: “The Jordan project was voted upon by the Council of Ministers after its implementation was agreed upon with Oman and 1 million barrels of Iraqi oil will reach the port of Aqaba every day…We are currently studying investment offers from international companies that will establish the pipeline in return for a percentage that will be deducted for each exported barrel.”

Again, a very detailed plan has been in place from the period just before the IS troubles began, envisaging a twin gas and oil pipeline between Iraq and Jordan. The estimated US$4.5 billion 1,680 kilometre double pipeline would pump one million barrels of oil a day, and 258 million cubic feet of gas, from Basra to Aqaba, via Haditha. Around 150,000 barrels of the oil from Iraq would be used for Jordan’s domestic needs, whilst the remainder would be exported through Aqaba to various destinations, generating about US$3 billion a year in revenues to Jordan, with the rest going to Iraq.

 

 

 

Edited by 6ly410

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