Oil: The average daily oil production was 4 million and 460 thousand barrels per day

[yota691]

Atrush field in Kurdistan records a record level of production during July

Economy | 12:05 - 21/08/2019

 

 

 

BAGHDAD - 
Abu Dhabi National Energy Company "Energy", on Wednesday, that its unit in Iraq recorded a "record" level of production from the Atrush oil field in the Kurdistan region. 
The company said in a statement that "for the first time since the start of production operations in the field in July 2017, the total monthly production volume exceeded one million barrels of oil in July." 
The Atrush field, operated by TAQA, was first discovered in 2011, according to TAQA's statement.

 

 

 

[yota691]

Oil: ExxonMobil experts return to West Qurna field

Monday, August 26, 2019 42

 

Basra / Saad Al-Sammak

 

Basra Oil Company revealed that the company "Exxon Mobil" to return its experts to their work offices in the field of West Qurna 1 within the coming days, and confirmed the preparation of a program to modernize and expand the export system through the southern ports. The general manager of the company, Ihsan Abdul-Jabbar, told Al-Sabah that the company has spare capacity to raise the rate of exporting crude oil to a higher level than currently stable at 3 million and 400 thousand barrels per day in compliance with the limits of OPEC, which aims to stabilize and support Oil prices in world markets.

He pointed to the return of experts "Exxon Mobil," the main operator of West Qurna 1 field to their offices in the field located north of Basra in accordance with the terms of the oil licensing contract for 2010 after a period of the company transferred operations management to its offices in the United Arab Emirates.

Abdul Jabbar stressed that negotiations with ExxonMobil would not stop over the investment offer in the South Integrated Project, noting that the Ministry of Oil has formed a permanent committee at its headquarters to study and review the data of the technical and commercial offer of this giant project. It is a long time in negotiations because it is one of the largest mega projects in the region in terms of the diversity of projects and the amount of money invested.        

He said that in implementation of the memorandum of the Ministry of Oil to the understanding with the State of Kuwait, which was approved by the Council of Ministers recently, the parties agreed to assign an international consultant to study the status of joint oil reservoirs in specific fields with Kuwait and the preparation of special outputs for the joint investment method for the fields "Rakta" and "dome Safwan "to ensure the economic interests and benefits of the two countries.

Regarding the development and modernization of the crude oil export pipeline system, Abdul Jabbar said that the Ministry of Oil has prepared a technical and engineering program to modernize and expand the export system by extending three pipelines from crude oil stations and warehouses in the oil areas in Basra to export stations in the ports of Basra and Khor Al-Amiya in the northern Arabian Gulf. Export capacity of one million and 500 thousand barrels per day, in addition to the current export capacity of about 3 million and 750 thousand barrels to achieve a proven reliability at an average rate of 5 million and 500 thousand barrels through the southern ports after completion The project.

[yota691]

Iraq unveils project to raise crude oil production in southern ports

Economy | 09:14 - 26/08/2019

 

 

 

The 
Ministry of Oil, revealed on Monday, the preparation of a program to modernize and expand the export system through the southern ports and 
said the company's director general Ihsan Abdul-Jabbar, "The company has a reserve capacity to raise the rate of export of crude oil to a level above the current stable at 3 million and 400 thousand Record barrels per day in compliance with the limits of "OPEC", which aims to stabilize and support oil prices in global markets.
And on the development and modernization of pipelines exporting crude oil system project, Abdul-Jabbar said that "The oil ministry has prepared a technical and engineering program to modernize and expand the export system by laying three pipelines from the stations and depots of crude oil and oil areas in Basra to export terminals in the ports of Basra and Khor al-Amaya in the North Arabian Gulf to raise The rate of export capacity is about 1.5 million barrels per day in addition to the current export capacity which Reached up to 3.75 million barrels down to achieve a proven reliability rate at 5.5 million barrels a record through the southern ports after the completion of the project ".anthy 29 / A 43

[yota691]

Oil announces the total exports and oil revenues achieved for the month of July

Economy | 11:55 - 26/08/2019

 

 

 

BAGHDAD - The balance of News 
Oil Ministry announced the total oil exports and revenues generated for the month of July, according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO). 
A spokesman for the ministry, Assem Jihad in a statement received / Mawazine News / a copy of it, that "the total quantities of crude oil exported for the month of July last oil fields in central and southern Iraq amounted to (106) million and (500) thousand and (15) barrels With the revenues of (6) billion (468) million and (22) thousand dollars, while the quantities exported from Kirkuk oil through the port of Ceyhan (3) million and (119) thousand and (578) barrels, with revenues amounting to (188) million And exports of (929) thousand and (174) barrels, with revenues amounted to (35) million and (356) thousand and (929) dollars. " 
"The average price per barrel was (60,536) dollars," Jihad said.
The official spokesman pointed out that "the quantities exported were loaded by (32) international companies of different nationalities, from the ports of Basra and Khor Al-Amaya and unilateral buoys on the Gulf and the Turkish port of Ceyhan."

[yota691]

Sumo: Indian companies most buying Iraqi oil for the month of July

 

energy Economy News _ Baghdad Iraqi oil marketing company "Somo", on Tuesday, that the Indian oil companies, followed by Chinese companies were the most buyers of Iraqi oil during the month of July. The "Sumo" in an official statistics published on its official website and seen by "Economy News", that "Indian companies were the most among the other international companies to buy Iraqi oil and by 8 out of 32 companies that bought oil during the month of July." Sumo added that "Chinese companies came second with 7 companies, followed by American companies and 3 companies," noting that "the rest were distributed to British, Italian, Egyptian, Turkish, Spanish, Russian, Greek, Japanese and Malaysian companies." She continued, "It depends in the sale of Iraqi oil on the main criteria for contracting with major international oil companies and medium and independent government vertically integrated," noting that "the most prominent international companies that buy Iraqi oil are the Italian company Eni and British BP and China Gain Oil and Oxon Mobil. "And the Russian company KazProm." The Ministry of Oil has set the end of 2018 marketing mechanisms for 2019, which was adopted on the basis of the importance of each market in terms of the volume of demand and the return per barrel. Number of Views 46   Date Added 27/08/2019

[yota691]

Al-Kaabi confirms the opening of Al-Jumayma border crossing and the oil refinery in Muthanna

Economy | 06:44 - 26/08/2019

 

 

 

BAGHDAD - 
The first deputy speaker of the House of Representatives Hassan al-Kaabi, on Monday, the opening of the port of Gemayma with Saudi Arabia in the coming days, while noting that the oil minister informed him to approve the opening of an oil refinery with a capacity of 70 thousand barrels per day. 
In a statement to Al-Kaabi, Mawazine News received a copy of it. Governor of Yasiri and members of the local administration for all the issues suffered by the province and its people. "
Al Kaabi stressed that "the services in it are not commensurate at all and being the second largest area in Iraq and its geographical location and wealth of economic, tourism and agricultural large," stressing "the need to speed up the provision of drinking water and treatment of pollution as a top priority because it is linked to people's lives. And enhance security and stability in cities, villages and the desert for its role in attracting domestic and foreign investment opportunities. " 
Al-Kaabi called on the Ministry of Finance and the Central Bank to "support the economic, agricultural and investment sector by reducing loans to farmers and granting the loan of 25 million unemployed youth," adding that "the oil minister confirmed to him the opening of an oil refinery with a capacity of 70 thousand barrels within Muthanna in the near Urgent, which contributes to reduce unemployment and other material issues benefit the people of the province in general. "
Al-Kaabi touched on the details of the closure of Al-Jumaima border crossing with Saudi Arabia, noting that "it will be opened in the coming days as agreed with the government recently." 
Al-Kaabi pledged that "the 2020 budget will be different from its predecessors as it will witness increased financial allocations for the province. Including the construction and rehabilitation of schools and hospitals. "

[yota691]

Ghadban: We plan to build a new line to transport crude oil from Kirkuk to the Turkish border

Political | 03:10 - 28/08/2019

 

 

 

Ghadban: We plan to build a new line to transport crude oil from Kirkuk to the Turkish border

[yota691]

Urgent Oil Minister: We intend to build a new line to transport Kirkuk crude to the border of Turkey

Date of edit:: 2019/8/28 15:11 • 88 times read

[6ly410]

Iraq to construct new oil pipeline from Kirkuk to Turkey

 Hiwa Shilani |

An hour ago

 

https://www.kurdistan24.net/en/news/1db2cb21-1227-40f5-affe-6093104686a4

---

A photo of the pipeline the Kurdistan Regional Government (KRG) uses to transport oil from Kirkuk to Turkey’s Ceyhan port. (Photo: Kurdistan 24)

 

Iraq Turkey Kurdistan Oil Pipeline 

A+AA-

ERBIL (Kurdistan 24) – Iraq plans to build a new pipeline to transport crude oil from the disputed province of Kirkuk to Turkey, Iraq’s oil minister said on Wednesday.

Iraqi Oil Minister Thamer al-Ghadhban made the remarks in a press conference following meetings between Fatih Dönmez, Turkey’s Minister of Energy and Natural Resources, his Iraqi counterpart, and several other officials.

Ghadhban said Wednesday’s meeting was a follow-up to Iraqi Prime Minister Adil Abdul Mahdi’s meeting and agreement with Turkish President Recep Tayyip Erdogan in Turkey earlier this year.

“The meeting focused on strengthening ties between the two countries and developing economic and trade connections, especially in the energy sector with gas, oil, and electricity,” he added.

In his announcement, the oil minister also mentioned Iraq’s intention to build a new pipeline to transfer crude oil from Kirkuk to the borders of Turkey.  

The main pipeline the Iraqi government used to transport some 600,000 barrels per day (bpd) from Kirkuk to Ceyhan was rendered inoperable in 2014 after the so-called Islamic State targeted it.

“We discussed many areas of cooperation including a possible electricity connection between the two countries,” Ghadhban stated.

The minister also emphasized the strategic importance of the pipeline, which could become an alternative after “regional developments threatened the current oil transportation path through the Gulf.” 

The new pipeline is set to go through the Kurdistan Region parallel with the Kurdistan Regional Government’s (KRG) pipeline that is currently being used to transport oil from Kirkuk to Turkey’s Ceyhan port.

On Nov. 16, 2018, the Federal Government of Iraq restarted exports of Kirkuk oil to Turkey through the Kurdistan Region’s oil pipeline at a rate of around 50,000 bpd.

Iraq is the Organization of the Petroleum Exporting Countries’ (OPEC) second-largest producer just after Saudi Arabia and currently has an output below its maximum capacity of nearly five million bpd.  

[6ly410]

Iraq seeks alternative oil export route via Turkey amid Persian Gulf tensions

By Karwan Faidhi Dri 1 hour ago 

122Views

https://www.rudaw.net/mobile/english/middleeast/28082019

Turkish energy and natural resources minister Fatih Donmez and Iraqi oil minister Thamir Ghadhban during a press conference in Baghdad on Wednesday. Photo: AA 

ERBIL, Kurdistan Region — Iraq’s oil minister said on Wednesday that his country hopes to construct a new pipeline with neighboring Turkey as Baghdad seeks to establish oil export routes away from the Persian Gulf, currently plagued by high tensions between Iran and the US and its allies.

Iraqi Oil Minister Thamir Ghadhban met with Turkish counterpart Fatih Donmez in Baghdad on Wednesday, where he informed the Turkish minister “about the willingness of the [Iraqi] ministry of oil - with support from the Iraqi government - to construct a new pipeline to transport Iraqi crude oil from Kirkuk to Iraqi border through the same old track,” he said during a joint press conference with Donmez after the meeting.

He was referring to an old Kirkuk-Ceyhan pipeline between the two countries which came under frequent attacks by armed groups after the US-led invasion of Iraq in 2003. It is no longer used by Iraq because of the damage it sustained.

The pipeline will be able to receive oil from Iraq’s southern oilfields, Ghadhban said, providing the product with an alternative export route.
 
“These alternatives are very important for Iraq’s oil exportation sustainability. Recent events in the Persian Gulf prove that this strategy is especially crucial.”
 

Ghadhban’s comments come amid tensions in the Persian Gulf between Iran and western countries after several mysterious attacks on vessels in recent months, the downing of a US surveillance drone in June, and the seizure of a British flagged tanker. 

Amid the tensions, Iran has threatened the closure of the Strait of Hormuz, through which one fifth of the world’s oil exports travel.
 
The US has sought to establish an international coalition to guard Persian Gulf waters and ensure the safe passage of commercial tankers. The UK and Bahrain have heeded the call, agreeing to join the coalition.

With 90 percent of Iraq’s government revenue coming from oil exports, the country is heavily dependent on safe navigation of the Persian Gulf for its subsistence. 

In response to Iraq’s precarious position, discussions for a new pipeline through Turkey were catalyzed by Iraqi Prime Minister Adil Abdul-Mahdi‘s visit to the country in May.

At Wednesday’s press conference, Donmez expressed Turkey’s readiness to export Iraqi oil through Turkey, indicating that oil sector ties with Iraq could be strengthened in the future.

“Iraq-Turkey oil pipeline has the capacity and potential to transport oil produced in northern Iraq to markets in the safest and fastest way. It can [also] transport it to markets, typically the Mediterranean, through Ceyhan [port],” Donmez  is reported by Turkish state-run Anadolu Agency (AA) to have said.

“We discussed and evaluated a number of new projects with the [Iraqi oil] minister,” he added. 

Iraq exports about five million barrels of crude oil per day to world markets, including more than a hundred thousand barrels per day from Kirkuk to Turkey through the Kurdistan Region’s pipelines.

Kurdistan Region used to export more than 300,000 bpd from the province of Kirkuk to Turkey before October 16, 2017, when the Iraqi army and pro-Iran militia groups drove Kurdish Peshmerga forces out of the province following a Kurdish referendum for independence from Iraq.
 

With exports from Kirkuk to Turkey suspended, oil was instead sent to Iran via tankers. The venture proved costly, unsafe, and was ultimately ordered to a halt by the US because of Washington's imposition of oil industry sanctionson Iran.

However, Erbil and Baghdad reached an agreement in late 2018 to export the Kirkuk oil via the Kurdistan Region’s pipelines to Turkey. The KRG charges Iraq for use of the pipeline.

 

[yota691]

Iraq: Turkey's new oil export pipeline system reaches an advanced stage

Oil - archive image

 28 August 2019 10:05 PM

Direct: The Iraqi Oil Minister said that the new oil export pipeline system for Turkey has reached an advanced stage .

The Deputy Prime Minister for Energy Affairs and Oil Minister, in a statement issued on Wednesday, Iraq is keen to strengthen bilateral relations with neighboring Turkey in all areas, including the energy and oil sector, according to a statement .

This came during a press conference held by Thamer Abbas Ghadban, with his Turkish counterpart, Fatih Donmaz, after the end of the joint meeting between the two sides .

Ghadhban hinted that the talks were useful and constructive as the two sides reviewed topics, files and projects of common interest, including the project of the new Iraqi oil export pipeline system (Kirkuk - Ceyhan), which has reached an advanced stage of technical preparation, and discuss the tenders, which is within the plans and executive projects for next year .

The meeting witnessed the discussion of the pipeline project (Rumaila - Aqaba), which is part of the important strategic projects, which aim to perpetuate the export of Iraqi oil and multiple export ports .

Ghadban confirmed that it was agreed to form a technical committee from both sides to discuss issues and issues that fall within the priorities of joint work and make the necessary recommendations in order to move forward in taking decisions that serve the interests of the two friendly peoples .

[Butifldrm]

Baghdad and Ankara agree to establish a pipeline to transport oil from Kirkuk to the Turkish border

 

646 views

28/08/2019

Baghdad / Trend Press

Iraqi Oil Minister Thamer Ghadhban announced Wednesday at a joint press conference with Turkish Energy Minister Fatih Donmaz, who arrived in the Iraqi capital Baghdad for official talks with Iraqi officials, his country's intention to build a new line to transport oil and crude from the northern city of Kirkuk to the border Iraqi Turkish.

Ghadban said, "At the meeting we followed up the implementation of what was agreed upon during the visit of Prime Minister Adel Abdul Mahdi, his delegation to Turkey and his meeting with Turkish President Recep Tayyip Erdogan."

He added, "What was agreed upon is to consolidate relations between the two countries and develop them to higher levels of economic and commercial activity, and energy relations of oil, gas and electricity."

“In addition, Turkish companies are well-known for their high potential in civil works and oil and gas projects,” he added.

The Iraqi Oil Minister said that he "informed Minister Donmaz, the intention of the Ministry of Oil and the support of the Government, the construction of a new line to transport Iraqi oil and crude from Kirkuk to the border with Turkey in the same old track."

He explained, "It will be the advantages of this pipeline ability to receive oil from the northern system, which will branch from the Basra - Aqaba."

"These are important strategic options for the sustainability of Iraqi oil exports, and the multiplicity of outlets is very important strategic, and what confirms the true events in the region threaten the main traditional paths in the Gulf region."

"We discussed many things, as two ministries in energy affairs, and there is also a common desire between the two countries to connect electricity," Ghadhban concluded.

For his part, praised the Turkish Energy Minister Fatih Donmaz, "bilateral relations and the development of trade exchange in many areas to more than (13) billion dollars and the presence of the desire of his government to raise the ceiling to more than (20) billion dollars."

"The talks with the Iraqi side were friendly and fruitful. The delegation met with Prime Minister Adel Abdul Mahdi, Deputy Prime Minister for Energy Affairs and Oil Minister Thamer Ghadhban," he said. “We hope to achieve important steps in this regard,” he said.

On May 15, the Iraqi prime minister paid a visit to Turkey, during which he agreed to start the procedures for signing a joint document in various fields between the two countries.

http://aletejahtv.com/archives/307948

[yota691]

High average crude oil exports from the ports of southern Iraq

By ahad5 29/08/2019 07:15 PM | Number Of Hits: 199

Al-Ahd News- Continue

BAGHDAD (Reuters) - The average crude oil exports from Iraq's southern Gulf ports has been around 3.482 million barrels per day since the beginning of August, an oil industry source said on Thursday.

Basra's exports reached 3.435 million bpd in July, up from 3.39 million bpd the previous month.

Iraq produces less than its maximum capacity of about five million barrels per day, in line with the agreement to reduce production between OPEC and other producers such as Russia in order to support prices.

Finished / 8

[yota691]

Oil: More than 111 million barrels of Iraqi oil exports for the month of August

 

energy Economy News _ Baghdad The Ministry of Oil, on Sunday, that Iraq's oil exports for the month of August amounted to more than 111 million barrels, indicating that the revenues achieved as a result of more than 6 billion dollars. A spokesman for the Ministry of Oil Asim Jihad in a statement received by "Economy News" a copy, that "the total oil exports for the month of August, according to the preliminary statistics issued by the Iraqi Oil Marketing Company SOMO, amounted to 111 million 706 thousand and 151 barrels," noting that " Revenues from these exports amounted to 6 billion 341 million and 553 thousand dollars, while the average price per barrel was 56.770 dollars. Jihad added that "the total quantities of crude oil exported for the month of August from the oil fields in central and southern Iraq amounted to 107 million and 520 thousand and 44 barrels, while from Kirkuk fields through Ceyhan port exported quantities amounted to 3 million and 253 thousand and 665 barrels, while the quantities exported 928 thousand and 963 barrels from the field of Qayyarah, while the quantities exported to Jordan amounted to 3,479 barrels. He pointed out that "the total daily rate of exports amounted to 3 million and 603 thousand barrels, where the daily rate of export from the ports of Basra 3 million and 468 thousand barrels, and from Ceyhan daily rate was 105 thousand barrels, while the daily rate from the field of Qayyara 30 thousand barrels and the daily rate The source to Jordan was 0.112 barrels. It is noteworthy that Iraq exports most of crude oil from the southern ports in Basra, and some quantities from the northern port of Kirkuk oil fields. Number of Views 22   Date Added 01/09/2019

[yota691]

Iraq's oil exports rise to 3.6 million in August

Release date:: 9/1 2019 13:53 • 20 times read

The Iraqi Ministry of Oil announced on Sunday, the rise of Iraq's oil exports to 3.6 million during the month of August.

A spokesman for the Ministry of Oil, Asim Jihad, said in a statement received by the Euphrates News Agency that the total quantities of crude oil exported for the month of August from the oil fields in central and southern Iraq amounted to 107 million and 520 thousand and 44 barrels, either from the Kirkuk fields through the port of Ceyhan The exported quantities amounted to 3 million 253 thousand 665 barrels, while the quantities exported from Qayyarah field reached 928 thousand and 963 barrels while the quantities exported to Jordan amounted to 3 477 
thousand barrels. The daily rate of export from the ports of Basra 3 million and 468 thousand barrels, and from Jiha The daily average was 105 thousand barrels, while the daily rate from the field of Qayyara was 30 thousand barrels and the daily rate exported to Jordan amounted to 0.112 barrels. 
"Jihad added that" the average price per barrel reached 56.770 dollars. "

[6ly410]

Monday، 02 September 2019 12:48 AM

Iraq crude oil exports rise to 3.6 mln bpd in August –oil ministry

https://www.thebaghdadpost.com/en/Story/43878/Iraq-crude-oil-exports-rise-to-3-6-mln-bpd-in-August-oil-ministry

 

Basra port

Iraqi crude oil exports rose to 3.603 million barrels per day (bpd) in August, from 3.566 million bpd the previous month, the oil ministry said in a statement.

Exports from the southern Basra terminals reached 3.468 million bpd, up from 3.435 million bpd in July, it said.

Shipments from Iraq's northern Kirkuk oilfields to the Turkish port of Ceyhan averaged 105,000 bpd, the statement said.

Iraq has resumed oil deliveries to Jordan by truck, with test loads totaling 3,480 barrels, said oil ministry spokesman Asim Jihad. Volumes are expected to rise gradually to agreed shipments of 10,000 bpd, he added.

Jordan and Iraq agreed a new deal on the trade of oil and goods at a February meeting between their two prime ministers on the Iraqi-Jordanian border.

Trucked exports of oil from Iraq to neighboring Jordan had been halted in 2014 because of deteriorating security in western Iraq.

The average sale price in August was $56.77 a barrel, generating about $6.341 billion in revenue, the ministry said.

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

[Laid Back]

-Increasing oil production 

-Oil exports raising

-Foreign currency reserves $72 billion dollars and growing 

-Gold reserves 96.5 Tons and growing 

-Inflation +/-2%

-HCL imminent to go into force in the next parliamentary period 

-Banking system getting Rated by international agencies 

-News Articles taking about coinage and delete of the 000 zeros

-Trade deals signed with many countries 

-Conversation for Iraq ascension to the WTO

-Support From UN, IMF, WB, WTO, BIS, GCC, UST, USA, UK, Russia, China, Japan

Canada, Australia, France, Germany, Italy, others

- Restricting the amount of dinars in and out of the country to 1,000,000 IDQ

 

This is getting pretty interesting 

In my opinion all the above are positive indicators for our investment.

Iraq is moving forward to an open market economy with an international recognized currency.

 

Go RV sooner than later 

Go $1:1

 

 

[ChuckFinley]

I found this of interest

There will be multiple commits posted with this.

Why now and if now you need to have value.

Yota:

Will Iraq pay compensation to America for the September 11 attacks? What does Saddam Hussein's have to do with it?

 

RonScarpa:

 

It's surprising that they are talking about this again NOW...After we spent almost 2 Trillion US Dollars trying to stabilize and rebuild Iraq.

 

It was my understanding the USA along with the other coalition countries (The Paris Club) were given designated sums  of New IQD to forgive the debt of the war, based upon the expectation that the IQD would eventually be restored to the pre-Saddam rate of $3.33 (the Golden Dinar), as outlined in the FUTURE OF IRAQ PROJECT (the Bush-Cheney Plan) which was declassified around 2012 (if I remember correctly). 

 

presence:

 

Ron,

Thanks for the post and for your fantastic and efficient manner of describing the historical events you reference. I've seem.many comments regarding The Paris Club over the years but in all honesty never took the time to resesrch the work they're involved in. 

 

I will certainly take a closer look at the Bush-Cheney plan, which is consistent with 'real.life' and in all reality the true reason the US found itself in Iraq when it did.

 

I very much like the timing of this article.  Its consistent  with Adam's avalanche analogy - whick makes me suapect that many other articles qith similar stored energy will soon be released...

 

dinarham:

Back when trump was campaigning ,he stated ,"We must be paid back for the war in Iraq "  I would guess that what we took from Iraq when  the first thing to do was to clear out their banks , is gold ,tons and tons of it . I do believe that the price of g,old is higher now than it was in 2003 ,  so there should be some interest $ coming our way .The gold is not at Fort Knox ,an antiquated facility ,and they hold as much gold now than they did after WW2 . Check it out if you're super bored .

 

Yota:

 

   12 hours ago,  presence said: 

Can anyome remind me as to whether or not it was the IMF (or another entity) that was responsible for devaluing the IQD in '03?

From my understanding it was the United Nations. 

 

 

presence:

Thanks Yota- much appreciated. I recall reading some of the details in 2010 but wasn't able to recall with the process with certainty. I am sure there's plenty of back-room deals between the UN and the IMF as well as with and between the central banks,  but it's nice to think that there's a consiatency in thr deval/reval of any currency-

 

Well, I guess it is here too. lol

Edited September 2, 2019 by ChuckFinley

[ChuckFinley]

Moved to the Bros Section.

[yota691]

Iraq is moving to raise its oil export capacity

Sunday 01 September 2019 38

 

 

 

Simon Watkins Translation: Shaima Miran

 

Two factors make the urgent construction of Iraq's oil export infrastructure more important than ever. The first is the growing threat from the security situation in the Persian Gulf following the mutual detention of boats linked to the Iranian and American sides in the current geopolitical confrontation, with further intervention expected by Russia and China soon. The second factor is the continued growth in the export of oil from all parts of Iraq during the sales of last July, including the Kurdistan region, at a rate of up to 4.007 million barrels per day, compared with 3.946 million barrels per day in June, outperforming last December. It was 4.159 million barrels per day.

According to Richard Malinson, Middle East energy consultant for global energy consultancy at Energy Aspects in London, Oil Price is clear that Iraq's level of oil exports has reached nearly 4 million barrels per day, which is what the infrastructure can do. Production, but any large activity beyond that level is not 

Maybe.

This could hinder Iraq's basic energy strategy to increase imports of crude oil production by 6.2 million barrels per day by the end of 2020 and nine million barrels per day at the end of the year.

 2023.

"Practically all export attempts by the central Iraqi government, except for the Kurdistan region, are focused on the Basra facility in the south, which means transporting oil through the Persian Gulf, which puts it at the center of the current security tension between Iran and America," Richard says. Although the Iraqi Oil Minister denied that Iraq was linked to the recently acquired MT Riah, and that Iran is unlikely to be exposed to the ships of its closest ally, the risk remains of any accident and the provision of a means to protect all ships from missile shelling. Across the Arabian Gulf affecting the margin of profit on all shipments of ships 

Iraq.

 

Previous plans

Richard explains that to get to Basra, oil is transported through inland pipelines but it is often not valid and needs to be improved as soon as possible. From there, oil finds its way to FAO, the main export depot where it is stored. 

And mix it. 

"However, there is not enough investment or anything besides the current unsustainable levels of oil, which means that oil supplies can be stored in the oilfields themselves, leading to significant difficulties," Richard said. 

Production. " 

"This also hinders the production of new Iraqi crude oil (medium crude oil from Basra), which was supposed to double the revenue streams produced from Basra heavy crude," Richard told Oil Price. 

And light. "

Prior to ISIS gangs, Iraq had developed realistic plans to build at least a dozen full-time operational storage units and facilities throughout FAO by the end of 2016, with a long-term goal of including 24 storage units with a capacity of 58 thousand cubic meters, Faisal total capacity to more than eight million 

barrel. 

Failure to activate these plans so far set the standard for the Iraqi government and expectations of uncertain revenues resulting from different oil price scenarios within the Ministry of Oil. 

Once we go beyond FAO, the situation becomes a little more effective. Oil was pumped through FAO to a single berth while there are now five berths. 

Current.

There was positive news last week for the offshore terminal at Khor Al-Amiya, which saw a halt in loading operations in 2017 when a leak and leak occurred in a seabed pipeline that fed offshore facilities, which called for their closure. According to Iraqi Oil Ministry sources, talks are progressing well BP (the third largest private oil company in the world) and Eni (an Italian oil exploration and extraction giant) to implement a $ 400 million project to replace two old seabed pipelines, one of which was the Khor Al-Amaya pipeline that was supposed to be part of the South Project. a For Iraq integrated SIIP, despite sporadic Oil Ministry discussions with Exxon Mobil 

Americanism.

 

Kirkuk - Ceyhan Line

Far from exasperating ExxonMobil, taking this pipeline out of the SIIP project seems to be welcomed by the U.S. company, as it originally focused solely on building outside the CSSP and funding it instead of the more costly and impractical SIIP project. Moreover, the CSSP project will surely be a crucial turning point for significant increases in Iraqi oil production and exports 

In the future.

Although the export of oil through the north and then to Europe via the Turkish port of Ceyhan seems theoretically the best export option, common practical and political considerations have made the theory obsolete. In fact, the original Kirkuk-Ceyhan pipeline, also called the Iraqi-Turkish ITP, consists of two pipelines, theoretically having a capacity of 1.6 million barrels per day resulting from the combination (1.1 million barrels per day for the 46-inch pipe and 0.5 million barrels per day for the pipeline). The other 40 inches in diameter).

This pipeline was the target of frequent and ongoing attacks by various armed groups in the region even before ISIS terrorist gangs entered the scene, prompting the KRG to oversee the completion of one side route from the Patq Field through Khurmala, which meets the Kirkuk-Ceyhan pipeline at the city of Fishkhabour. Capacity of 0.7 million barrels per day, which then increased to one million barrels per day. This is further complicated by the ongoing dispute with the KRG over the 2014 oil budget agreement, and the Baghdad government intends instead to repair and reopen the government pipeline running through Kirkuk to Ceyhan, bypassing any Kurdish control. "This could be a good move by Baghdad if it manages to get around the political angle with the KRG," says Richard.

 

Russian participation

Iraq's inability to export across the south via Basra due to the US-Iranian confrontation or through the north due to tension between the Kurdistan government and the central government, and its ability to transport relatively small quantities of oil westward to Iran via tankers, led Prime Minister Adel Abdul Mahdi to declare that The government is considering export routes through Syrian and Jordanian territories. Realistically, however, for the current security situation in Syria, it seems that this option at most cannot be made for several years. Although the plan is already in place, the pipeline will extend approximately 800 kilometers from Kirkuk to Banias in Syria through Haditha with an initial capacity of 0.3 million barrels per day.

Russia took part in these initial plans, the first of which began in 2007 but was canceled in 2009, when Russia's Stroytrangaz, a subsidiary of hydrocarbon giant Gazprom, made no progress. The second was approved in September 2010 and includes the construction of two new conveyor lines, the first for heavy crude with a planned capacity of 1.5 million barrels per day from the northern region of Baiji, and the second for light crude with a planned capacity to be 1.25 million barrels per day and is likely to link the southern fields of Majnoon, Halfaya, Badra and Al-Ahdab. And west of Baghdad.

The result of these plans is interesting, and Oil Price has obtained an exclusive statement from senior officials in the Iraqi and Iranian oil ministries, that Russia will participate in discussions focused on this pipeline project, including providing all necessary funding that is compatible with the Russian-Iranian plan for Syria Post Conflict. "According to this plan, along with the transfer of Iraqi oil to Syria and then to Europe and Asia, Iranian oil can flow through the pipeline, road and export destinations as well, and later transport gas from the Fars field to Syria and then to

 Europe".

 

Iraqi - Jordanian Calligraphy

Now that the Jordanian road is already functioning, Baghdad and Jordan have been keen to agree to start the project. "We've seen this announcement a lot but nothing has happened," says Richard. However, according to the Iraqi Minister of Oil recently, "Jordan's project has been voted by the Council of Ministers after approval of its implementation with Amman. Which will construct the pipeline for a percentage that will be deducted per barrel

 Source".

Once again, a very detailed plan is being drawn up in the run-up to the events of ISIS, envisaging a dual oil and gas pipeline between Iraq and Jordan. Gas from Basra to Aqaba via Haditha. Approximately 150,000 barrels of Iraqi oil will be used to meet Jordan's domestic needs, while the remainder will be exported through the port of Aqaba to various export destinations, generating approximately $ 3 billion annually in revenues to Jordan and the rest to Iraq.

 

About Oil. Price

[yota691]

Iraqi Oil signs contracts for hydrogenation and improving gasoline in Kirkuk

Part of the signing ceremony of the project contracts

 03 Sep 2019 01:07 PM

Direct: Iraqi Deputy Prime Minister for Energy and Oil Minister, the ministry is seeking to implement projects to increase refining capacity, through contracting with international companies and private sector companies in Iraq.

The remarks were made by Minister Thamer Abbas Ghadhban, according to a ministry statement on Tuesday, during the signing ceremony of contracts for hydrogenation and gasoline improvement in the province of Kirkuk with a capacity of 12 thousand barrels per day, between the northern oil companies and northern gas and Al-Barham invested for the project .

The minister said that the project of hydrogenation and improving gasoline in the province of Kirkuk comes within the directives of the ministry to develop the refineries sector; in order to increase production of high-octane gasoline fuel, which will reduce its import.

He added that the new project will rely on naphtha produced in the Kirkuk refinery, noting that this step comes to increase the national content in the development of the oil and gas industry, a step supported by the ministry in maximizing the role of the Iraqi private sector.

For his part, the President of the Barham Shwanah Aziz Saleh, said that the signing of the contract with the North Oil and North Gas companies, comes to equip the North Gas Company with untreated natural gasoline. Electrical project.

For his part, a spokesman for the ministry, said that the project hydrogenation and improve gasoline investment in Kirkuk will work with a capacity of 12 thousand barrels per day.

Asim Jihad added that the project will produce high-octane gasoline (95) European specifications, and consists of three main units (hydrogenation - Alizmrh - gasoline improvement).

Jihad explained that the duration of the implementation of the project 28 months, and the cost of up to about $ 400 million .

[yota691]

Is it possible to manage the oil export compass of Kirkuk away from Kurdistan?

By AhadNA1 04/09/2019 03:29 AM | Number Of Hits: 834

   Political and economic circles in the Kurdistan region of Iraq have circulated for the past two days reports of an Iraqi-Iranian-Lebanese-sponsored effort to export oil products of the disputed Kirkuk region through Syria, through the oil pipeline linking Iraqi fields to the Syrian port of Banias, through the provinces of Mosul and Anbar. Syrian territory, thus dispensing with the Kurdistan oil pipeline, which exports oil through the Turkish port of Ceyhan.

Al Ahd News - Reports Section

The Syrian-Iraqi export pipeline, which connects Iraq's oil field network to the port of Banias, was established by British Petroleum after World War II and has been used for historically intermittent periods, depending on the relationship between the political regimes in Syria and Iraq. It stopped for a long time since the early 1980s, with the outbreak of the Iran-Iraq war, and returned to work in 1997, with the return of relations between the Syrian and Iraqi regimes at the time, but stopped completely since the US invasion of Iraq in 2003. The pipeline now needs strategic maintenance, because B. The effects of the war in Syria and Iraq on its infrastructure.

Initial signals

 On the other hand, the deliberations of the Kurdish political and economic circles were based on what was published over the past weeks in the Russian media, which went on to say that Russia is sponsoring continuous meetings between Iran, Syria and Iraq, to agree on a joint strategic project between these countries on this pipeline, which It needs investments estimated at about $ 8 billion to rebuild.

The sensitivity of the Kurdish side has increased since the circulation of this news, because it was based primarily on signs that the Iraqi federal government and the Iraqi central political forces are seeking to find discharge points for Kirkuk oil, in preparation for dispensing with the Kurdish oil pipeline. The Iraqi government stopped exporting Kirkuk oil to Iran about three months ago, in response to US sanctions on the latter.

Also, the process of exporting Kirkuk oil to Jordan has already started since late July, through the border crossing of Trebil between the two countries, has become 200 road trucks, carrying crude oil from the fields of Kirkuk to Jordan, pursuant to a memorandum of understanding between Iraq and Jordan, signed In February, it was to supply Amman with 10,000 barrels of oil per day, in return for Baghdad to get electricity from Jordan.

This coincided with the strategic contract signed by the Russian oil giant «Rosneft» with the Lebanese government to store Lebanese oil and operate its facilities in the Tripoli area, over the next 20 years, and the possibility of linking this Lebanese-Russian agreement with Moscow seeks to implement through the export of Iraqi oil through The port of Banias, which is not more than 100 kilometers from the Lebanese Tripoli.

Mixed endeavors

Observers who follow the economic files in the Kurdistan region that this project combines the interests of several countries, Iran seeks to equip the oil corridor between Syria and Iraq, to become a suitable alternative at any time in the event of the deterioration of military and security conditions in the area of the Hormuz oil corridor, to be able to continue Exporting its oil through that line. Iran is also seeking to develop a tool for Syria to serve as an economic lever, relying increasingly on Iranian aid. Russia believes that the re-operation of this pipeline will bring them net profits.With its influence and possession of part of this pipeline, it will control a large part of the Middle East exports to European countries, having seized the pipeline that exports the Kurdistan-Iraq production through the Turkish port of Ceyhan.

Difficulties

Observers do not expect the project to be easy to implement. The initial investment of this pipeline will require billions of dollars, an amount that the governments of Iran, Iraq and Syria will not be able to provide directly, given the fiscal deficit surrounding their budgets, especially since the revenues of this project are not guaranteed, and it may take years to recover what has been invested in this project.

 These financial investments, if they occur, would be in a completely insecure environment, as Saman explained, the supply lines extend over a thousand kilometers, most of them in deserts that were and still are the focus of severe civil and political conflicts.This environment has been a strategic center for ISIS for years. The Islamic State terrorist group still has cells in those areas and occasionally launches attacks on oil installations.

 This insecure environment comes mainly from the instability of the political conditions in the oil pipeline area, and the relations of the competing parties are highly contradictory. All this area. These parties are wrestling with each other politically and militarily.

[yota691]

Iraq establishes the largest industrial island to export oil in the northern Gulf

 

 

 2019/09/04 00:38:41

 

Basra Oil Company is expected to sign a memorandum of understanding with a Dutch company to prepare a roadmap for the construction of the largest industrial island for the export of crude oil in the offshore area in the north of the Arabian Gulf. And exporting countries from outside.  

The company is set to sign a memorandum of understanding (MoU) with Dutch company Boss Kals to draw up a comprehensive map of all the technical details of the construction of the largest industrial island, the company said in its Wednesday edition. Exporting crude oil in the offshore area north of the Arabian Gulf, and is one of the largest industrial islands in the world.     

He pointed out that the Ministry of Oil represented by the company will sign a consultative study contract, which will pave the country to enter into the offshore oil industry projects in the future and maximize financial resources in the state's public budgets. With the capacity to raise the joint export and treasury capacity of the project at a higher rate in the future to allow access to the target figure by the ministry to provide the needs of the global market of crude oil.

Abdul Jabbar explained that the final contract includes the preparation of a road map to clarify all the details of engineering, logistics, investment, economic and housing for the workers of this giant project, as well as the mechanism of financial recovery of the parties.

In a related context, the Director of the company to maintain the relative stability in the rate of export capacity of crude oil planned for the current month through the ports of Basra at 3 million and 400 thousand standard barrels per day, recording a reduction of about 50,000 barrels per day from the rate of export last month, which was an average of 3 million And 450,000 barrels per day, according to the OPEC.  

He pointed out that there is no intention of the ministry to raise the declared export rate achieved monthly until the end of this year in compliance with the decisions of the Organization of Petroleum Exporting Countries and OPEC countries to support the policy of supply and demand balance and the price of a barrel of crude oil in the global market.

[yota691]

Construction of the largest industrial island for exporting oil in the northern Gulf

 

Basra Oil Company Headquarters. "Internet"

energy Economy News - Baghdad Basra Oil Company announced that it will sign a memorandum of understanding with a Dutch company to prepare a roadmap for the construction of the largest industrial island for the export of crude oil in the offshore area in the northern Gulf. The company's general manager Ihsan Abdul-Jabbar said in a statement carried by the official newspaper "morning" and seen by the "economic news", "the company is scheduled to sign a memorandum of understanding with the Dutch company (Boss Kals) to develop a comprehensive map of all technical details to build a larger An industrial island for exporting crude oil in the offshore area north of the Arabian Gulf.      He added, "The Ministry of Oil represented by the company will sign the consultative study contract, which will pave the country to enter into the offshore oil industry projects in the future and maximize financial resources in the state's public budgets." A standard barrel with capacity to raise the joint export and treasury capacity of the project at a higher rate in the future to allow access to the target target by the ministry to provide the needs of the world market of crude oil. Abdul Jabbar said that "the final contract includes the preparation of a road map to clarify all the details of engineering, logistics, investment, economic and housing for employees of this giant project, as well as the mechanism of financial recovery of the parties." Views: 27   Date Added: 04/09/2019

[Butifldrm]

Russia gives Iraq map to guarantee Kirkuk oil revenues

 

 Wednesday 04 September 2019

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Baghdad - Writings

Iraqi media reported that there are attempts by the government of Prime Minister Adel Abdul-Mahdi to coordinate between Iran, Syria and Lebanon to export the oil of the disputed Kirkuk province with the Kurdistan region without relying on the region's oil pipeline to secure its export revenues.

According to the leaked Wednesday, September 4, 2019, the agreement being prepared is sponsored by Russia to ensure that the United States is not exposed to it.

The agreement between the four countries to transfer the Kirkuk oil export line to the oil pipeline linking the Iraqi fields with the Syrian port of Banias through Mosul and Anbar and then dispense with the link with the Turkish port of Ceyhan, which is controlled by the Kurdistan region.

The leaks confirmed that Russia will sponsor a joint strategic project between these countries to reuse the pipe, which stopped working completely with the occupation of Iraq in 2003 and will need to pump investments estimated at $ 8 billion to build and operate.

https://kitabat.com/news/روسيا-تمنح-العراق-خريطة-ضمان-عائدات-نف/