Oil: Revenues last September amounted to about nine billion dollars

[yota691]

 

The stability of Iraqi oil exports and the decline in its imports during the past month

 2022-01-03 01:36

 

Shafaq News/ The Iraqi crude oil exports for the month of December were stable, despite the increase in the production share of OPEC +, while its financial imports declined.

 

The data of the Oil Marketing Company "SOMO" showed that Iraqi exports last December, with the exception of flows from the Kurdistan Region, rose slightly by 0.12 percent, reaching 3.277 million barrels per day, compared to 3.273 million barrels per day in November.

 

Iraq's production quota under the supply agreement between OPEC and its allies increased to 4.237 million barrels per day in December from 4.193 million barrels per day in November as members of the 23-member alliance continued to ease production restrictions by 400,000 barrels per day per month.

 

In January, Iraq's share will be 4.281 million barrels per day.

 

Exports from central and southern Iraq fell 0.47 percent to 3.180 million barrels per day, while Kirkuk crude exports through the Turkish port of Ceyhan rose 27.94 percent to 87 thousand barrels per day from 68 thousand barrels in November.

 

Iraq's revenues from oil sales in December amounted to $7.037 billion, at an average price of more than $72 a barrel, compared to $7.610 billion it obtained in November through selling its oil at an average price of $77,510 a barrel.

 

The OPEC + alliance is likely to agree to an increase of 400,000 barrels per day in production quotas for the month of February when ministers meet again on January 4, according to what a number of analysts and energy experts see.

[yota691]

 

In addition to the Kurdistan Region, Iraqi oil exports increased in December by 0.5%

 

 2022-01-06 01:46

 

Shafaq News/ Total Iraqi oil exports, including quantities from Kurdistan Region, increased by 0.5% in December 2021 to reach 3.677 million barrels per day from 3.660 million barrels per day in November.

And plats s&p Global said that Iraq's oil exports amounted to 3.277 million barrels per day in December, up from 3.273 million barrels per day in October, while Kurdistan Region's exports increased to 400,000 barrels per day, an increase of 3.3% from November.

Iraq's share of OPEC + rose to 4.237 million barrels per day in December from 4.193 million barrels per day in November as the 23-member alliance continued to add 400,000 barrels per day per month as planned under the July agreement, while Iraq's quota for the month of January 4.281 million b / y.

Iraqi exports from southern Gulf ports declined to 3.180 million b/d in December from 3.195 million in November, while Kirkuk exports through Ceyhan rose to 87,000 b/d from 68,000 b/d in November and trucked oil remained to Jordan steady at 10,000. b/d. Exports of Qayyarah heavy oil from the southern port of Khor Al Zubair remained halted in December.

Federal exports from the Gulf Federal Ports included 901,000 barrels per day of Basrah Light Medium grade 31-33 API grade, 1.195 million barrels per day of Basrah Medium grade 27-29 API grade which is a new grade introduced in January 2021, and 1.084 million barrels per day per day from Basra Heavy with an average quality of 23-24 API grades, according to figures from the State Oil Marketing Organization seen by Platts.

To meet the increase in Basra Medium exports, SOMO last year transferred the fixed berths of the Basra Oil Terminal to handle Basra Medium only, while the Basra Light export was transferred to SPMs along with loads of Basra Heavy.

The level of the federal stockpile of Kirkuk oil destined for export from Ceyhan reached 659,000 barrels at the end of December, up from 582,000 barrels in November, and stocks in the south amounted to 3.470 million barrels, compared to 2.930 million barrels at the end of November. .

Reports of shipping agents showed that Kurdish oil stocks in Ceyhan fell to 2.3 million barrels in December from 2.4 million in November.

[yota691]

 

Iraq exports more than one billion barrels of oil during 2021

 

 2022-01-08 03:36

 

Shafaq News/ The Ministry of Oil announced on Saturday that Iraq's oil exports during 2021 amounted to more than one billion barrels, noting that China and India were the most purchasers of Iraqi oil.

The Oil Marketing Company (SOMO) said in a statistic on its official website, which was reviewed by Shafak News Agency, that the total oil exports for the year 2021 amounted to one billion and 102 million and 188 thousand barrels, with a monthly export rate of 91 million and 849 thousand barrels, and a daily rate of two million and 962 thousand. barrel.

It indicated that the revenues generated from crude oil sales amounted to 68 billion and 995 million dollars, at a rate of 5 billion and 749 million dollars per month, explaining that the average monthly selling price of crude oil amounted to 68 and 366 cents a barrel.

Somo indicated that the total exports from the oil fields in Basra and central Iraq exported through Basra ports during the year 2021 amounted to 966 million 844 thousand barrels, while exports from Kirkuk fields from the Turkish port of Ceyhan amounted to 35 million and 650 thousand barrels, and exports to Jordan during For the four months, 884,835 barrels were exported.

She noted that Indian and Chinese oil companies were the most purchasers of Iraqi oil, followed by American companies.

Iraq exports about 70% of its crude oil to Asia, especially India and China, through the ports of the Persian Gulf, while the rest is exported through Turkish Ceyhan to Europe and America.

[yota691]

Iraq exports more than one billion barrels of oil during 2021

 

energy Economy News _ Baghdad  The Ministry of Oil announced, on Saturday, that Iraq's oil exports during 2021 amounted to more than one billion barrels, noting that China and India were the most purchasers of Iraqi oil. The Oil Marketing Company (SOMO) said in a statistic on its official website, and reviewed by "Economy News", that the total oil exports for the year 2021 amounted to one billion and 102 million and 188 thousand barrels, with a monthly export rate of 91 million and 849 thousand barrels, and a daily rate of two million and 962 thousand barrels. It indicated that the revenues generated from crude oil sales amounted to 68 billion and 995 million dollars, at a rate of 5 billion and 749 million dollars per month, explaining that the average monthly selling price of crude oil amounted to 68 and 366 cents a barrel. Somo indicated that the total exports from the oil fields in Basra and central Iraq exported through Basra ports during the year 2021 amounted to 966 million 844 thousand barrels, while exports from Kirkuk fields from the Turkish port of Ceyhan amounted to 35 million and 650 thousand barrels, and exports to Jordan during For the four months, 884,835 barrels were exported. She noted that Indian and Chinese oil companies were the most purchasers of Iraqi oil, followed by American companies. Iraq exports about 70% of its crude oil to Asia, especially India and China, through the ports of the Persian Gulf, while the rest is exported through Turkish Ceyhan to Europe and America.

Views 51   Date Added 01/08/2022

[yota691]

Iraqi Oil announces the resumption of crude oil pumping through the Kirkuk-Ceyhan pipeline

Iraqi Ministry of Oil

 January 19, 2022 02:06 PM

Mubasher: The Iraqi Oil Ministry announced, today, Wednesday, the resumption of crude oil pumping through the Kirkuk-Ceyhan pipeline this morning.

The ministry said, in a statement, that crude oil pumping had resumed through the Kirkuk-Ceyhan pipeline with a capacity of 75,000 barrels per day, after a hiatus of hours; After the accident on the pipeline inside Turkish territory.

The Ministry of Oil added that the halt will not affect the volume of exports, which will be compensated by pumping additional quantities.

[yota691]

 

Controlling the fire of the pipeline carrying Kurdistan's oil to Turkey, and the resumption of exports today

 

 2022-01-19 03:31

 

Shafaq News/ "Botas" company, which supervises Turkish oil pipelines, said on Wednesday that after the explosion of the pipeline transporting Kurdistan Region's oil last night in Marsh Governorate, crude exports from the region to Ceyhan port will resume today, Wednesday, and within a few hours.

Botaş said in a statement that the fire of the oil pipelines of Iraq and the Kurdistan Regional Government in the Marsh governorate was caused by an explosion that stopped the export of Kurdistan oil to the port of Ceyhan.

She pointed out that after controlling the accident, and the arrival of firefighting teams since the beginning of the fire, the process of exporting Kurdistan oil to Ceyhan port will resume within a few hours.

The company had announced earlier that it had stopped the flow of oil through the Kirkuk-Ceyhan pipeline in the wake of an explosion near Kahramanmaras province in southeastern Turkey.

[yota691]

 

Oil expert: The explosion of the pipeline exporting Iraqi crude does not affect prices much

 

 2022-01-19 04:08

 

Shafaq News/ The oil expert, Hamza Al-Jawahiri, confirmed on Wednesday that the explosion of the pipeline that exports Iraqi oil through the Turkish port of Ceyhan does not significantly affect global oil prices.

Al-Jawahiri said in an interview with Shafaq News Agency, "The pipeline exports small quantities of about 620,000 barrels per day through Turkey to Europe and America, and therefore the explosion that occurred in it does not significantly affect global oil prices."

Al-Jawahiri added, "The pipeline can be repaired quickly because it is located within Turkish territory, and there are technical teams ready for the purpose of repair," noting that "repairing the pipeline will not take more than two days as a maximum, after which Iraqi oil will be exported through the pipeline."

A major pipeline transporting crude oil from Iraq to a Turkish port on the Mediterranean blew up on Tuesday evening, adding pressure on oil markets and pushing prices higher.

The Turkish state company Botas, which operates the (Kirkuk-Ceyhan) pipeline, said that the fire has been extinguished, cooling operations are currently underway, and it will reopen as soon as the necessary measures are taken.

[yota691]

 

With revenues exceeding $7 billion... Oil announces the final statistics of December exports

 

 2022-01-24 08:40

 

Shafaq News/ The Ministry of Oil announced, on Monday, the total oil exports and revenues achieved for the month of last December, according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO).

 

The ministry said in a statement received by Shafaq News Agency, "The quantity of crude oil exports amounted to (101) million (579) thousand (927) barrels, with revenues amounting to (7) billion (391) million and (749) thousand dollars.

 

The statistics indicated that the total quantities of crude oil exported for the month of December from oil fields in central and southern Iraq amounted to (98) million (570) thousand and (290) barrels, while the quantities exported of Kirkuk oil through the port of Ceyhan (2) One million (700) thousand and (95) barrels.

 

She added that the average price per barrel amounted to (72,768) dollars.

 

He pointed out that the exported quantities were loaded by (29) international companies of different nationalities, from the ports of Basra, Khor Al-Amaya, the mono-buoys on the Gulf and the Turkish port of Ceyhan.

[yota691]

Iraqi Oil: $7.39 billion in crude export revenues during December

Oil barrels bearing the emblem of the Iraqi flag

 January 24, 2022 05:39 PM

Mubasher: The Iraqi Ministry of Oil announced, today, Monday, the total oil exports and revenues generated for the month of December 2021, according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO).

The Ministry of Oil said, in a statement, that crude oil exports amounted to 101.58 million barrels during the month of December, with revenues of 7.39 billion dollars.

The ministry added that the statistics indicate that the total quantities of crude oil exported for the month of last December from oil fields in central and southern Iraq amounted to 98.57 million barrels, while the quantities exported of Kirkuk oil through Ceyhan port were 2.7 million barrels.

The Ministry of Oil noted that the average price per barrel amounted to 72.77 dollars.

The ministry pointed out that additional revenues were generated from the sale of shipments of exported crude oil at a price premium, with the total revenue reaching $143.03 million.

She pointed out that the exported quantities were loaded by 29 international companies of different nationalities, from the ports of Basra, Khor al-Amaya, mono-buoys on the Gulf and the Turkish port of Ceyhan.

[yota691]

Iraq.. Oil export revenues jump to $75.65 billion in 2021

Oil barrels bearing the emblem of the Iraqi flag

 January 30, 2022 02:46 PM

Direct special - Mr. Jamal: Iraq achieved a remarkable increase in oil export revenues during 2021 on an annual basis; Amid the improvement in global oil prices compared to the previous year, during which they were affected by the Corona pandemic crisis and the downturn in the global economy, the average selling price of a barrel of oil increased by more than 78% on an annual basis.

 

Revenues from Iraqi oil exports, according to a statistic prepared by "Mubasher" based on data from the Ministry of Oil and the Oil Marketing Company "SOMO", increased by 81.3% during 2021, an increase equivalent to 33.91 billion dollars over the previous year.

Iraq's revenues from oil exports amounted to $75.65 billion during 2021, compared to $41.74 billion in 2020.

Revenues from oil exports witnessed a remarkable improvement in the last months of 2021; It reached more than $22.6 billion in the fourth quarter of the year, registering a year-on-year increase of 104.3%.

The month of October recorded the highest level of oil export revenues in Iraq last year; By $7.67 billion, year on year, by 121.8%, while January’s revenues were the lowest by $4.77 billion; With a decrease of 22.7% from the same month in 2020.

April also recorded the highest rate of increase in oil export revenues in Iraq during 2021; It rose by 267.5% on an annual basis, to $5.55 billion, compared to $1.51 billion in the same month of the previous year.

   

Export 1.1 billion barrels

And the “Mubasher” statistic showed an increase in Iraqi oil exports during 2021 by about 0.5%, equivalent to 5.84 million barrels, over the previous year.

The quantities of oil exported by Iraq last year amounted to 1.1 billion barrels, compared to 1.09 billion barrels in 2020.

Iraq tended to increase its crude oil exports during the year 2021, starting in June, after declining in the first 5 months of the year on an annual basis.

Iraqi oil exports reached their peak last December; With the export of 101.58 million barrels during the month, an annual increase of 15.2%, and a difference of 13.37 million barrels.

On the other hand, February recorded the lowest level of exports in 2021 by 82.88 million barrels, to witness a decrease in the quantities exported by 15.47 million barrels from the same month of 2020.

   

An increase in the average price of a barrel of oil

The year 2021 witnessed an increase in the average selling price of a barrel of Iraqi oil; With the improvement of prices in global markets; As a result of the return of economic activities, the rise in demand and the reduction in supply due to the production policy of OPEC and independent producers from outside it.

The average price of a barrel of oil last year was $68.38, compared to $38.41 a barrel as the average selling price in 2020, an increase of 78%.

October recorded the highest average selling price of a barrel of Iraqi oil during 2021 at $79.27, followed by November at $77.51, while January was the lowest at $53.59.

The average selling price in April jumped 328.8% year on year; It amounted to $ 62.78, while it was $14.64 in the same month of 2020, when it was affected by the outbreak of the first wave of the Corona virus and the closure of global economies.

   

[yota691]

 

With more than 8 billion dollars... Oil announces Iraq's exports for January

 

 2022-02-01 03:22

 

Shafaq News/ The Ministry of Oil announced on Tuesday, the total exports and revenues achieved for the month of last January, according to the preliminary statistics issued by the Iraqi Oil Marketing Company "SOMO".

The ministry said in a statement received by Shafak News Agency; The quantity of crude oil exports amounted to (99) million (286) thousand (78) barrels, with revenues amounting to (8.27) billion dollars.

And she added, "The total quantities exported of crude oil for the month of January from the oil fields in central and southern Iraq amounted to (96) million (430) thousand and (596) barrels. As for the Kirkuk fields through the port of Ceyhan, the exported quantities amounted to (2). One million and (545) thousand and (656) barrels.

She pointed out that "the average daily exports amounted to (3) million and (203) thousand barrels, while the average price per barrel amounted to (83,246) dollars.

The ministry indicated that "through its belief in informing the people of the export operations and the revenues generated from it, it took this monthly measure."

[yota691]

For the first time... Iraq achieves $8 billion in oil revenues

03:12

Fourth - Baghdad

Today, Tuesday, the Ministry of Oil announced the total exports and revenues achieved for the month of last January, according to the preliminary statistics issued by the Iraqi Oil Marketing Company "SOMO".

An oil statement received by Al-Rabaa stated that "the amount of crude oil exports amounted to (99) million (286) thousand and (78) barrels, with revenues amounting to (8.27) billion dollars."

 

He pointed out that the total quantities of crude oil exported for the month of January from oil fields in central and southern Iraq amounted to (96) million (430) thousand and (596) barrels, while from the Kirkuk fields through Ceyhan port, the exported quantities amounted to two million and ( 545 thousand and (656) barrels.

He added that "the average daily exports amounted to (3) million and (203) thousand barrels, while the average price per barrel amounted to (83,246) dollars.

[yota691]

The Ministry of Oil announces revenues and exports last month

•  Time: 02/02/2022 11:10:37
•  
•  Reading: 1,391 times

  

{Economic: Al Furat News} The Ministry of Oil announced today, Tuesday, the total exports and revenues achieved for the month of last January.

According to the preliminary statistics issued by the Iraqi Oil Marketing Company "SOMO", {Al-Furat News} received a copy of it, the amount of crude oil exports amounted to (99) million (286) thousand and (78) barrels, with revenues amounting to (8.27) billion dollars.

The statistics indicated that the total quantities of crude oil exported for the month of last January from oil fields in central and southern Iraq amounted to (96) million (430) thousand and (596) barrels, while from Kirkuk fields through Ceyhan port, the exported quantities amounted to (2) ) One million and (545) thousand and (656) barrels.

The average daily exports amounted to (3) million and (203) thousand barrels, while the average price per barrel was (83,246) dollars.

It is noteworthy that the ministry, through its belief in informing the people of the export operations and the revenues generated from it, took this monthly measure. 

[yota691]

Iraqi Oil: 99.29 million barrels were exported during January... and revenues were 8.27 billion dollars

Iraqi Ministry of Oil

 Feb 01 2022 05:27 PM

Mubasher: The Iraqi Ministry of Oil announced today, Tuesday, the total exports and revenues achieved for the month of last January, confirming that they amounted to more than 8 billion dollars, at a price of 83.246 dollars per barrel.

A ministry statement stated, "According to the preliminary statistic issued by the Iraqi Oil Marketing Company SOMO, the amount of crude oil exports amounted to 99.286 million barrels, with revenues of $8.27 billion."

He added that "the total quantities of crude oil exported for the month of January from the oil fields in central and southern Iraq amounted to 96.430 million barrels, while from the Kirkuk fields through the port of Ceyhan, the exported quantities amounted to 2.545 million barrels."

He pointed out that "the average daily exports amounted to 3.203 million barrels, while the average price per barrel reached 83.246 dollars."

[yota691]

The Ministry of Oil announces achieving revenues of more than $75 billion in 2021

2022.02.03 - 15:28

 

Baghdad - people   

On Thursday, the Ministry of Oil announced an increase in financial revenues for the year 2021.   

  

 

  

And the Undersecretary for Extraction Affairs, Karim Hattab, said in a statement that “Nass” received a copy of it, (February 3, 2022), that “the realization of financial revenues, in excess of the expectations of the 2021 budget, despite the economic and health challenges represented by Covid 19 and beyond, has contributed greatly to covering a good percentage.” of the fiscal deficit of the government’s budget for the said year.   

Hattab pointed to "the importance of the commitment of the producing countries in (OPEC +) in the stability of oil markets, and in overcoming the crises that afflicted the economies of the countries of the world after the spread of the Corona pandemic."   

  

Hattab expressed his hope that "the required balance between supply and demand will continue to be achieved over the coming period, after the increase that will be supplied to global markets by (OPEC +) in the amount of (400) thousand barrels per day, starting from next March, and the increase in Iraq's share to (4,370). million barrels per day, which is an important step to achieve additional financial revenues, stressing the importance of stabilizing global markets, and Iraq's keenness to adhere to the (OPEC +) agreement alongside the producing countries for more stability of the oil markets.   

[yota691]

Oil: More than $75 billion in revenues last year, and we aspire to increase it this year

• Time: 02/02/2022 15:15:53
•  
• Reading: 390 times

  

{Economic: Al Furat News} The Undersecretary of the Ministry of Oil for Extraction Affairs confirmed the ministry’s success in achieving an increase in financial revenues for the year 2021, after it witnessed an increase in the total financial revenues derived from oil exports to (75,650) billion dollars, a noticeable increase over the expectations of last year’s budget.

And the Undersecretary for Extraction Affairs, Karim Hattab, said in a statement received by {Euphrates News} that the achievement of financial revenues in excess of the expectations of the 2021 budget, despite the economic and health challenges represented by Covid 19 and beyond, has contributed to a large extent by covering a good percentage of the financial deficit of the government’s budget for the aforementioned year.

Hattab pointed to the importance of the commitment of the producing countries in (OPEC +) to the stability of oil markets, and to overcoming the crises that afflicted the economies of the countries of the world after the spread of the Corona pandemic, expressing his hope to continue achieving the required balance between supply and demand over the coming period, after the increase that will be supplemented To global markets by (OPEC +) with a quantity of (400) thousand barrels per day, starting from next March, and the rise of Iraq’s share to (4.370) million barrels per day, which is an important step to achieve additional financial revenues, stressing the importance of the stability of global markets, and Iraq’s keenness to adhere to With the (OPEC +) agreement, along with the producing countries, for more stability in the oil markets.

[horsesoldier]

On 5/2/2021 at 4:51 AM, haymon said:

I remember MY first Gusher like it was just 50 years ago. That’s when I had my first cigarette too. 

[yota691]

Clarification on the mechanism for determining the price of Iraqi oil

 

309 Economie 02/10/2022 22:05 Baghdad today -

Baghdad The Iraqi State Oil Marketing Company (SOMO) issued today, Thursday, a clarification statement on the mechanism for determining the price of Iraqi oil. The company said in a statement received (Baghdad Today): “In response to what was published on the media about an allegation attributed to an unknown source claiming his closeness to the Oil Marketing Company (SOMO), the company expresses its astonishment at the method that deviated from the professionalism adopted by the channel in terms of transferring it from Sources that we have not established whether they are actually present or familiar with the mechanisms and meetings for determining the price differences for Iraqi crude oil exported to global markets. And she added, "The Oil Marketing Company has mathematical mechanisms through which the monthly price of Iraqi oils for the main global markets (Asia, Europe and America) is determined based on the data of each month in terms of demand, supply and price differences between the oils according to their quality (light, medium or heavy), and The extent of the competitiveness of Iraqi oil compared to similar oils in the region. And she stated that "the accounts are subject to review by a specialized committee in the Oil Marketing Company and its board of directors, and then presented in an expanded meeting that includes the leaders of the ministry headed by the minister for the purpose of discussing them according to the data of the oil market and approving them to ensure the marketing of all quantities available for export with the highest financial revenue for the country." She pointed out that, "Based on the above clarification, and on the basis of the ministry's responsibility and the leadership of the oil sector, the discussion of the accounts and what the Oil Marketing Company proposes about the pricing of Iraqi crude oil reflects the high professionalism, transparency and accuracy required to reach what is hoped to achieve the marketing goals in terms of increasing the marketing shares of oil. Iraqi crude in world markets. The company called on the media channels to "be accurate and to obtain information from its well-informed official sources, rather than unsubstantiated transmission of the approved standards for purposeful media work."

[yota691]

 

"SOMO" clarifies the data for the adoption of the price of Iraqi crude in global markets

 

 2022-02-10 14:33

 

 

Shafaq News/ The Iraqi Oil Marketing Company "SOMO" clarified on Thursday the method of calculating the monthly price of oils in the global markets.

Somo said, in a statement received by Shafaq News Agency, that "the company has calculation mechanisms through which the monthly price of Iraqi oils for the main global markets (Asia, Europe and America) is determined based on the data of each month in terms of demand and supply, in addition to the price differences between the oils according to Its quality (light, medium or heavy) and the competitiveness of Iraqi oil compared to similar oils in the region.

She added that "the accounts are subject to review by a specialized committee in the Oil Marketing Company and its board of directors, and then presented in an expanded meeting that includes the leaders of the ministry headed by the oil ministers for the purpose of discussing them according to the data of the oil market, and approving them to ensure marketing of all quantities available for export, with the highest financial revenue for the country."

According to Somo clarification, and on the basis of the ministry’s responsibility and the leadership of the oil sector, “the discussion of the accounts and what the Oil Marketing Company proposes, about the pricing of Iraqi crude oil reflects the high professionalism, transparency and accuracy required to reach what is desired to achieve the marketing objectives in terms of increasing the marketing shares of Iraqi crude in the markets.” global,” according to the statement.

[currenzcraze]

**Iraq's sales of liquid gas and condensate exceed $360 million**

Iraq's sales of liquid gas and condensate exceed $360 million

Shafaq News/ The Iraqi Oil Marketing Company "SOMO" announced that more than 360 million dollars amounted to Iraq's sales of liquid gas and condensate in 2021.
The company said in its schedule, seen by Shafak News Agency, that "the amount of oil products from liquid gas and gas condensate exported from Basra Gas Company (BGC) during 2021 amounted to 594,386,978 tons through the export of 57 shipments, with revenues amounting to 364,102,197,975 dollars."
It added that the amount of exported sales of liquid gas for the year 2021 amounted to 138,794,619 tons through the export of 28 shipments, with revenues amounting to 75,732,553.94 dollars,” noting that “the sales of gas condensate amounted to 455,592,359 tons through exports of 29, with revenues amounting to 288,369,644.04 dollars.
https://shafaq.com/ar/اقتصـاد/مبيعات-العراق-من-الغاز-السا-ل-والمكثفات-تتخطى-360-مليون-دولار

[yota691]

Adding 100,000 barrels of oil to production

Monday 14 February 2022 282

 

 Baghdad: Nafeh Al-Naji

 

The development of the Al-Fayhaa field within the new Yamama oil reservoir in the Basra governorate resulted in the addition of 100,000 barrels per day to the national production capacity.

The director of the Basra Oil Company, Khaled Hamza, told "Al-Sabah": "Oil production in this reservoir started recently after the completion of well drilling operations," noting that "the company's plan in the ninth patch is to drill about (13) wells, and we are continuing to drill appraisal wells. In this important area.” For his part, the Director of the Basra Oil Company’s Exploration Affairs Department, Imad Kazem, told Al-Sabah: “The targeted production capacity is 100,000 barrels per day in the first phase, in addition to the processing of associated gas in conjunction with the production of oil"

[yota691]

A statement regarding the crude oil pricing mechanism and the agreement between Baghdad and Erbil

06:52

Fourth - Baghdad

Today, Tuesday, the Oil Marketing Company (Somo) clarified the mechanism for pricing crude oils and the agreement between the center and the region, while announcing its plan for the year 2022 on exports.

The company's general manager, Alaa Khader Al-Yasiri, said, according to government media, that "the global oil market witnessed a rise in global oil prices in the past period, for several reasons, including geopolitical reasons related to the tensions witnessed in several regions of the world, and technical others related to the impact of production for some oil-exporting countries." In addition to reasons related to the weather and many other reasons, which affected the volume of global oil supply and its decline, in view of the increase in demand after recovering from the effects of the Corona pandemic.

He added that "the Oil Marketing Company, when pricing Iraqi crude oils, takes into account many criteria and considerations that ensure that the official selling price of Iraqi crude oils is a fair price that guarantees the highest financial return for the country and at the same time maintains the competitiveness of Iraqi crude oils among the oils that come to the market." The three (Asia, Europe and America), based on careful analysis of the market situation and the balances of supply and demand.

 

He added, "The Ministry of Oil, through the Oil Marketing Company, has worked to increase its export plan for 2022 by increasing the contractual quantities based on the export plan submitted by the production companies in the ministry for the quantities available for export," explaining that "the issue of raising export capacity is not limited to high prices. Oil or not, but rather depends on the availability of export infrastructure, the absorptive capacity of loading ports and storage capacity, in addition to other logistical factors, which Iraq is working to develop through implementing the plans drawn up by the Ministry, to raise the country’s export capacity during the coming period, in addition to adhering to the policy of The Organization of Petroleum Exporting Countries and its allies (OPEC +) towards global market changes in a way that ensures the preservation of Iraq's current quotas in the three major markets and seeks to raise them whenever the opportunity arises.

Regarding Kurdistan’s oil obligations towards the central government, the Director General of the Oil Marketing Company (Somo), explained that “based on Article (11) of the federal budget for the year 2021, the Oil Marketing Company supplies the values of the quantities to be exported by the Kurdistan Region of Iraq (250) thousand barrels. / day to the Federal Ministry of Finance for the purpose of obtaining it from the government of the region, where the data related to the region’s exports after calculating the quantities and their values according to the official pricing announced by the Oil Marketing Company is provided to the Ministry of Finance on a monthly basis.

And he added, "The issue of deciding whether or not the territorial government is committed to the agreement is within the jurisdiction of the Ministry of Finance and is not among the tasks of this company's work."

[yota691]

SOMO clarifies the crude oil pricing mechanism and the agreement between the center and the region

• TUE, FEB 15-2022,PM 5:13
•  
• KARAR AL ASADI
•  
• 163

---

http://non14.net/public/images/large/8-1644934417.jpg

Today, Tuesday, the Oil Marketing Company (Somo) clarified the mechanism for pricing crude oils and the agreement between the center and the region, while announcing its plan for the year 2022 on exports.

The company's general manager, Alaa Khader Al-Yasiri, said, "The global oil market witnessed a rise in global oil prices in the past period, for several reasons, including geopolitical reasons related to the tensions witnessed in several regions of the world, and technical others related to the impact of production for some oil-exporting countries, in addition to reasons It is related to the weather and many other reasons, which affected the volume of global oil supply and its decline, in view of the increase in demand after recovering from the effects of the Corona pandemic.

He added, "The Oil Marketing Company, when pricing Iraqi crude oils, takes into account many criteria and considerations that ensure that the official selling price of Iraqi crude oils is a fair price that guarantees the highest financial return for the country and at the same time maintains the competitiveness of Iraqi crude oils among the oils that come to the The three markets (Asia, Europe and America), relying on careful analysis of the market situation and the balances of supply and demand.

And he continued, "The Ministry of Oil, through the Oil Marketing Company, worked to increase its export plan for 2022 by increasing the contractual quantities based on the export plan submitted by the production companies in the ministry for the quantities available for export," explaining that "the issue of raising export capacity is not limited to a rise in Oil prices or not, but rather depend on the availability of export infrastructure, the absorptive capacity of the loading ports and storage capacity, in addition to other logistical factors, which Iraq is working to develop through the implementation of the plans drawn up by the Ministry, to raise the country’s export capacity during the coming period, in addition to commitment The policy of the Organization of Petroleum Exporting Countries and its allies (OPEC +) towards global market changes in a way that ensures the preservation of Iraq's current quotas in the three major markets and seeks to raise them whenever the opportunity arises.

Regarding Kurdistan’s oil obligations towards the central government, the Director General of the Oil Marketing Company (Somo), explained that “based on Article (11) of the federal budget for the year 2021, the Oil Marketing Company supplies the values of the quantities to be exported by the Kurdistan Region of Iraq (250) thousand barrels. / day to the Federal Ministry of Finance for the purpose of obtaining it from the government of the region, where the data related to the region’s exports, after calculating the quantities and their values according to the official pricing announced by the Oil Marketing Company, is provided to the Ministry of Finance on a monthly basis,” according to the official agency.

And he added, "The issue of deciding whether or not the territorial government is committed to the agreement is within the jurisdiction of the Ministry of Finance and is not among the tasks of this company's work."

[yota691]

 

SOMO to Shafak News: Iraq maintains its position as India's largest oil exporter

 

 2022-02-16 03:11

 

Shafaq News/ The Iraqi National Oil Marketing Company "SOMO" confirmed on Wednesday that Iraq has maintained the first position as the largest exporter of oil to India.

The company's general manager, Alaa Khader Al-Yasiri, said, in an interview with Shafaq News Agency, that "the global oil market witnessed a rise in official selling prices for many producing countries, affected by the recovery of global demand after the decline witnessed during the severity of the pandemic in the year 2020, as the member countries of (OPEC) worked ) and its allies to reduce the quantities supplied at the time for the purpose of controlling the sharp decline in crude oil prices, which entered the negative region in certain cases.

He added, "The recent rise in oil prices prompted many crude oil importing countries, including India, China and South Korea, to search for less expensive alternatives that could be resorted to for the purpose of providing oil products, which in turn witnessed a remarkable improvement in demand."

He pointed out that "the Oil Marketing Company, when pricing Iraqi crude oils, takes into account many criteria and considerations that ensure that the official selling price of Iraqi crude oils is a fair price that guarantees the highest financial return for the country and at the same time maintains the competitiveness of Iraqi crude oils among the oils that come to the The three markets (Asia, Europe and America).

Al-Yasiri stressed that "the marketing policy pursued by the company has succeeded in maintaining the first position as the largest exporter to the Indian market, with the expansion of market shares of Iraqi crude oils in China by entering the market of independent refineries, in addition to increasing the quantities exported to the Korean market and other markets," noting This is "evidence of the success of the marketing policy adopted by the Oil Marketing Company."

He pointed out that "the challenges that are being presented to the Iraqi crude oil markets, whether from American, European, African or even Canadian oils, which in turn create many challenges that are being considered, with continuous work to develop solutions for each of them to ensure the stability and sustainability of demand for crude oil." The Iraqi market, in global markets in general and the Asian market in particular.

According to customs data that appeared in recent months for some Asian countries, especially China and India, they showed that these countries reduced their oil imports from OPEC and moved towards African and American markets to compensate for the shortage as a result of the increase in OPEC prices of more than one dollar compared to other markets.

[yota691]

Previous Parliamentary Economy: Oil revenues were recorded more than what was proven in the 2021 budget

• Time: February 19 2022 20:51:58
•  
• Reading: 767 times

  

{Economic: Al Furat News} The previous Parliamentary Economy Committee announced, on Saturday, that oil revenues were recorded more than what was proven in the 2021 budget.

 Committee member Najeba Najib said {to Al-Furat News}: “Oil prices with the rise in the exchange rate led to covering the debts incurred by it and the obligations of paying salaries, and the government benefited Of the value of raising and the citizen is the first and last victim."
She added, "There is an increase in oil revenues, but there is no financial abundance because the government needs to complete the suspended projects and pay salaries." 
Najib went on to say, "Oil prices are not stable and may be subject to a decline, but the revenues recorded last year were more than what was in the budget." 
She called on the government to "establish a good policy to remove injustice from the citizens and provide job opportunities."
It is noteworthy that the Undersecretary of the Ministry of Oil for Extraction Affairs confirmed the success of the ministry, confirming the achievement of an increase in financial revenues for the year 2021, after it witnessed an increase in the total financial revenues derived from oil exports to (75,650) billion dollars, a noticeable increase over the expectations of last year’s budget.
On Friday, oil prices fell by about 2%, while awaiting developments regarding the nuclear talks and the Ukrainian-Russian crisis.
West Texas Intermediate crude futures prices - for March delivery - fell by 1.20%, to $90.66 a barrel.
The prices of Brent crude futures contracts - for delivery in April 2022 - also decreased by more than 1.06%, recording 91.98 dollars per barrel.