Iraq signs $2bn Oil Deal with Chinese Firm

By John Lee.

Iraq has reportedly awarded a Chinese company a deal which would see it paying $2 billion upfront for a year's supply of oil.

Alaa al-Yasiri, General Manager of State Oil Marketing Organization (SOMO) told Iraqi News Agency (INA) that a Chinese company had won the contract ahead of a European company, but did not identify the company.

Bloomberg had previously reported that China's ZhenHua Oil was poised to sign the contract.

More here and here.

(Sources: Bloomberg, FT, INA)

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Jordan “negotiating New Oil Contract with Iraq”

By John Lee.

Iraq's State Oil Marketing Organization (SOMO) has reportedly said that Jordan is negotiating with Iraq to resume purchases of crude oil.

Shafaq News Agency quotes the company's Director, Alaa al-Yasiri, as saying that Iraq exported no crude oil to Jordan in December due to the expiration of the old contract.

More here.

(Source: Shafaq News Agency)

The post Jordan "negotiating New Oil Contract with Iraq" first appeared on Iraq Business News.

Iraq Increases Oil Exports for December

By John Lee.

Iraq's Ministry of Oil has announced initial oil exports for December of 88,211,750 barrels, giving an average for the month of 2.846 million barrels per day (bpd), down from the 2.709 million bpd exported in November.

These exports from the oilfields in central and southern Iraq amounted to approximately 85,195,608 barrels, while exports from Kirkuk amounted to 3,016,142 barrels.

Revenues for the month were $4.213 billion at an average price of $47.765 per barrel.

November's export figures can be found here.

(Source: Ministry of Oil)

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Iraq Finalises Oil Exports for November

By John Lee.

Iraq's Ministry of Oil has announced initial oil exports for November of 81,262,376 barrels, giving an average for the month of 2.709 million barrels per day (bpd), down from the 2.876 million bpd exported in October.

These exports from the oilfields in central and southern Iraq amounted to approximately 78,190,444 barrels, while exports from Kirkuk amounted to 2,819,169 barrels. Exports to Jordan were 252,763 barrels.

Revenues for the month were $3.404 billion at an average price of $41.886 per barrel.

October's export figures can be found here.

(Source: Ministry of Oil)

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Iraq cuts Oil Exports in November

By John Lee.

Iraq's Ministry of Oil has announced initial oil exports for November of 81,262,376 barrels, giving an average for the month of 2.709 million barrels per day (bpd), down from the 2.876 million bpd exported in October.

These exports from the oilfields in central and southern Iraq amounted to approximately 78,190,444 barrels, while exports from Kirkuk amounted to 2,819,169 barrels. Exports to Jordan were 252,763 barrels.

Revenues for the month were $3.395 billion at an average price of $41.778 per barrel.

October's export figures can be found here.

(Source: Ministry of Oil)

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Iraq Finalises Oil Exports for Oct

By John Lee.

Iraq's Ministry of Oil has announced finalised oil exports for October of 89,153,932 barrels, giving an average for the month of 2.876 million barrels per day (bpd), up from the 2.613 million bpd exported in September.

These exports from the oilfields in central and southern Iraq amounted to approximately 86,023,204 barrels, while exports from Kirkuk amounted to 2,867,637 barrels. Exports to Jordan were 263,091 barrels.

Revenues for the month were $3.457 billion at an average price of $38.77 per barrel.

September's export figures can be found here.

(Source: Ministry of Oil)

The post Iraq Finalises Oil Exports for Oct first appeared on Iraq Business News.

Iraq Increases Oil Exports in Oct

By John Lee.

Iraq's Ministry of Oil has announced initial oil exports for September of 89,153,899 barrels, giving an average for the month of 2.876 million barrels per day (bpd), up from the 2.613 million bpd exported in September.

These exports from the oilfields in central and southern Iraq amounted to approximately 86,000,000 barrels, while exports from Kirkuk amounted to 2,867,637 barrels. Exports to Jordan were 263,058 barrels.

Revenues for the month were $3.431 billion at an average price of $38.48 per barrel.

September's export figures can be found here.

(Source: Ministry of Oil)

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Minister proposes Joint Company for Iraqi Kurdistan’s Oil

By John Lee.

Iraq's Minister of Oil, Ihsan Abdul Jabbar Ismael [Ihsan Abduljabbar] (pictured) has reportedly proposed setting up a joint oil company to manage the production and export of oil from Iraqi Kurdistan.

According to Shafaq News, the new company would be "linked technically and administratively to the presidency of the region and the Federal Oil Ministry".

The Minister is quoted as saying:

"The ongoing talks between Baghdad and Erbil show new visions and ideas for the region."

(Source: Shafaq News)

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Iraq announces Oil Export Data for Sept

By John Lee.

Iraq's Ministry of Oil has announced initial oil exports for September of 78,388,619 barrels, giving an average for the month of 2.613 million barrels per day (bpd), slightly up from the 2.597 million bpd exported in August.

These exports from the oilfields in central and southern Iraq amounted to 75,000,000 barrels, while exports from Kirkuk amounted to 3,133,834 barrels. Exports to Jordan were 254,785 barrels.

Revenues for the month were $3.167 billion at an average price of $40.407 per barrel.

August's export figures can be found here.

(Source: Ministry of Oil)

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