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Iraq to launch new “Basrah Medium” Crude Oil Grade

By John Lee.

Platts reports that Iraq plans to launch a new Basrah Medium crude oil grade “whenever logistics allow,” to provide “more stability” in existing grades.

It quotes Ali Nazar al-Shatari, the Deputy Director General of the State Oil Marketing Organization (SOMO) as saying the new grade will have an API gravity of 29-30 degrees, with 2 percent sulphur.

Basrah Heavy will remain largely the same at 23 degrees API and 4 percent sulphur, while Basrah Light will be become even lighter, rising to 34 API degrees, up from an average of 29-31 degrees currently.

(Source: Platts)

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Oil Exports Fall Slightly in February

By John Lee.

Iraq’s Ministry of Oil has announced preliminary oil exports for February of 95,940,404 barrels, giving an average for the month of 3.426 million barrels per day (bpd), a slight decrease from the 3.490 bpd exported in January.

The exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan.

Revenues for the month were  $5.769 billion at an average price of $60.137 per barrel.

January export figures can be found here.

(Source: Ministry of Oil)

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Oil Ministry Finalises Export Figures for January

By John Lee.

Iraq’s Ministry of Oil has announced final oil exports for January of 108,190,068 barrels, giving an average for the month of 3.490 million barrels per day (bpd), a slight decrease from the 3.535 bpd exported in December.

The exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan.

Revenues for the month were $6.772 billion at an average price of $62.596 per barrel.

The oil was shipped by 31 international companies from the ports of Basra, Khor Al- Omaia and the single-point moorings (SPM’s) on the Gulf.

December export figures can be found here.

(Source: Ministry of Oil)

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Oil Ministry Finalises Export Figures for January

By John Lee.

Iraq’s Ministry of Oil has announced final oil exports for January of 108,190,068 barrels, giving an average for the month of 3.490 million barrels per day (bpd), a slight decrease from the 3.535 bpd exported in December.

The exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan.

Revenues for the month were $6.772 billion at an average price of $62.596 per barrel.

The oil was shipped by 31 international companies from the ports of Basra, Khor Al- Omaia and the single-point moorings (SPM’s) on the Gulf.

December export figures can be found here.

(Source: Ministry of Oil)

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Iran-Iraq Oil Swap Delayed over Safety Concerns

By John Lee.

A plan to export Iraqi crude oil by truck to Iran has reportedly been postponed due to security concerns.

Under the oil-swap agreement, Iraq was to export 60,000 bpd of crude oil by truck from Kirkuk to Iran’s Kermanshah refinery (pictured), and ship back refined Iranian oil for southern Iraq.

Hamid Hosseini, the Iranian secretary-general of the Iran-Iraq Chamber of Commerce, said Iran does not have X-ray machines to scan the trucks coming from Iraq, adding that Iran is in talks with Iraq to use their X-ray facilities.

(Sources: Xinhua, Rudaw)

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Baghdad keen to Restart Oil Exports through Turkey

By John Lee.

Iraqi Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] is to visit Turkey this week to discuss expanding cooperation in the oil and energy sector.

Among the topics for discussion will be the possible restarting of oil exports via the Turkish port of Ceyhan (pictured), and the export the Iraqi oil “by SOMO company exclusively”.

He will also invite Turkish companies to participate in investment projects in the oil sector.

(Source: Ministry of Oil)

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Oil Exports Fall Slightly in January

By John Lee.

Iraq’s Ministry of Oil has announced preliminary oil exports for January of 108,190,068 barrels, giving an average for the month of 3.490 million barrels per day (bpd), a slight decrease from the 3.535 bpd exported in December.

The exports were entirely from the southern terminals, with no exports from Kirkuk via Ceyhan.

Revenues for the month were  $6.847 billion at an average price of $63.288 per barrel.

December export figures can be found here.

(Source: Ministry of Oil)

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Jordan approves deal with Iraq on Oil, Gas Pipeline

By John Lee.

Jordan has reportedly approved an agreement with Iraq to build a twin gas and oil pipeline between the two countries.

The 1,680-km double pipeline will pump one million barrels of oil a day, and 258 million cubic feet of gas, from Basra to Aqaba.

About 150,000 barrels of the oil from Iraq is needed to meet Jordan’s needs. The rest will be exported through Aqaba, generating about three billion U.S. dollars a year in revenues to Jordan, according to the ministry.

An agreement will be signed soon by the Energy Ministries of both countries.

(Source: Xinhua)

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Oil Exports Rise Again in December

By John Lee.

Iraq’s Ministry of Oil has announced preliminary oil exports for December of 109,573,817 barrels, giving an average for the month of 3.535 million barrels per day (bpd), an increase from the 3.502 bpd exported in November.

The exports were entirely from the southern terminals, with no exports from Kirkuk via Ceyhan.

Revenues for the month were  $6.496 billion at an average price of $59.286 per barrel.

November export figures can be found here.

(Source: Ministry of Oil)