Iraq Re-Starts Oil Exports to Jordan

By John Lee.

Iraq has reportedly re-started the supply of crude oil to Jordan by road.

Shipments ended in November 2020 following the expiration of the previous agreement.

The latest agreement sees a total of 3.7 million barrels being exported from Baiji refinery to the Jordanian refinery at Zarqa, at a rate of 10,000 barrels per day.

According to Basra Voice, this represents 10 percent of Jordan's requirements; a previous statement from the Jordan government put the figure at 7 percent.

The oil is being sold at a discount of $16 to the price of Brent crude.

The Jordanian Ministry of Energy and Mineral Resources announced in July that Burj Al Hayat Transport and Trading Company was awarded the tender to transport the oil.

(Sources: Basra Voice, Petra)

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Iraqi National Oil Company (INOC) holds First Meeting

By John Lee.

The recently-created Iraqi National Oil Company (INOC) has held its first meeting in Baghdad.

Among the items discussed were the five-year plan for the oil exploration sector, and what were described as "interim and future production and export plans", in coordination with the State Oil Marketing Organization (SOMO).

(Source: Ministry of Oil)

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Iraq Oil Exports Exceed 3m BPD

By John Lee.

Iraq's Ministry of Oil has announced preliminary oil exports for August of 94,660,239 barrels, giving an average for the month of 3.054 million barrels per day (bpd), up from the 2.918 million bpd exported in July.

The exports from the oilfields in central and southern Iraq amounted to approximately 91,655,930 barrels, while exports from Kirkuk amounted to 3,004,309 barrels.

Revenues for the month were $6.533 billion at an average price of $69.017 per barrel.

July's export figures can be found here.

(Source: Ministry of Oil)

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Iraq Confirms Oil Exports for July almost $6.5bn

By John Lee.

Iraq's Ministry of Oil has announced finalised oil exports for July of 90,467,794 barrels, giving an average for the month of 2,918 million barrels per day (bpd), slightly up from the 2.892 million bpd exported in June.

The exports from the oilfields in central and southern Iraq amounted to approximately 87,455,359 barrels, while exports from Kirkuk amounted to 3,012,435 barrels.

Revenues for the month were $6.476 billion at an average price of $71.578 per barrel.

June's export figures can be found here.

(Source: Ministry of Oil)

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Iraqi Oil Exports for July Exceeded $6.5bn

By John Lee.

Iraq's Ministry of Oil has announced preliminary oil exports for July of 90,467,794 barrels, giving an average for the month of 2,918 million barrels per day (bpd), slightly up from the 2.892 million bpd exported in June.

The exports from the oilfields in central and southern Iraq amounted to approximately 87,455,359 barrels, while exports from Kirkuk amounted to 3,012,435 barrels.

Revenues for the month were $6.513 billion at an average price of $72.001 per barrel.

June's export figures can be found here.

(Source: Ministry of Oil)

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Iraq and Lebanon sign Fuel Barter Deal

By John Lee.

Iraq and Lebanon have finalised an agreement under which Iraq will provide the Lebanese Electricity Corporation with 1 million tonnes of heavy fuel oil over a one-year period.

Lebanon's caretaker Energy Minister, Raymond Ghajar, signed the deal in Baghdad at the weekend.

The oil will be paid for in goods and services.

(Sources: Govt of Iraq, NNA)

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Transporter Named for Iraqi Oil Exports to Jordan

By John Lee.

The Jordanian Ministry of Energy and Mineral Resources has announced that Burj Al Hayat Transport and Trading Company has been awarded a tender to transport Iraqi crude oil to Jordan.

The company will be responsible for transporting 10,000 barrels of crude oil per day from Iraq's Baiji oil refinery to Jordan's Petroleum Refinery Company in Zarqa, covering 7 percent of the Kingdom's daily demand with a discount of $16 from the price of Brent crude per barrel.

"The door-to-door shipping process begins in the coming two weeks, with 50 percent of daily imports transported via Iraqi and Jordanian tanker trucks," according to a statement by the Ministry.

(Source: Govt of Jordan)

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Iraq Confirms Oil Exports for June Exceeded $6bn

By John Lee.

Iraq's Ministry of Oil has announced finalised oil exports for June of 86,765,589 barrels, giving an average for the month of 2.892 million barrels per day (bpd), slightly down from the 2.899 million bpd exported in May.

The exports from the oilfields in central and southern Iraq amounted to approximately 83,690,352 barrels, while exports from Kirkuk amounted to 3,075,237 barrels.

Revenues for the month were $6.143 billion at an average price of $70.801 per barrel.

May's export figures can be found here.

(Source: Ministry of Oil)

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China Buys “nearly Half” of Iraq’s oil

By John Lee.

An advisor to Iraqi Prime Minister Mustafa al-Kadhimi has said that nearly half of the country's oil exports go to China, making China the number one market for Iraqi oil.

Speaking on Thursday, Mazhar Muhammad Salih said that China accounts for about 40-44 percent of Iraqi oil exports, equating to about 800,000 barrels of oil per day.

(Source: INA)

(Pictured: Former Prime Minister Adil Abdul Mahdi with China's Premier Xi Jinping, in September 2019)

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