Iraq Completes Basra Oil Jetty Repairs
Repair work at a Basra oil jetty damaged by a tanker collision last month were completed on Sunday, two officials at state-run South Oil Company told Reuters on Monday. Crude exports from the Basra terminal were not affected by the collision that happened on March 24…
Power restored in Iran oil regions
Power supply has been restored within hours of an outage in southwestern Iran that hit crude oil production by 700,000 barrels on Saturday, and efforts are underway to compensate for the output drop, a senior oil official said. It was not immediately…
Iran Negotiating to Export 4 mln bbls per month to Philippines
National Iranian Oil Company (NIOC) is negotiating with the Philippines over exporting four million barrels of crude per month to the country, Iran's English-language Press TV quoted a statement published on Friday by the NIOC as saying. "The…
Rumaila Oilfield Hits 3 bln barrel Record
The Rumaila Operating Organisation (ROO), composed of BP, PetroChina and the South Oil Company of Iraq, today announced that the Rumaila oilfield has produced three billion barrels of oil since the joint venture began operating in January 2010.
Foreign Firms to Increase Spending on Iraqi Oil Fields in Basra
Foreign oil companies will increase their investments to increase output in Basra, the main producing region of Iraq, state-owned South Oil Company Deputy Director General Salah Mahdi told Reuters on Monday. The companies'investment budget increased to $7.29 billion in 2017…
Iraq's Oil Exports Set to Decline in June for Second Month
Iraq's oil exports are set to decline in June for a second month, according to loading data and an industry source, adding to signs that supply growth from OPEC's second-largest producer is slowing this year. Iraq in 2015 provided the biggest…
Oil Slips as Iraqi Exports Up, Offsetting U.S. Inventories Drop
Oil fell on Thursday as rising exports from Iraq underlined the global oversupply situation, outweighing the effects of a surprise fall in U.S. inventories the previous day. Brent futures were at $39.51 at 1258 GMT, down 33 cents from Wednesday's close. U.S.
Oil Steady on Iraqi Exports, U.S. Inventories
Drop in U.S. crude stocks supports WTI futures; North Sea oil field maintenance supports Brent futures. Oil steadied at around $40 per barrel on Thursday as a surprise fall in U.S. inventories the previous day was offset by an increase in exports from Iraq, underlining global oversupply.
Eni Starts Three O&G Treatment Plants at Zubair Field
Eni and Kogas have introduced, in the presence of H.E. the Deputy Minister of Oil Fayadh Hassan Nima and other representatives of the Iraqi government, three new generation plants for the oil, gas and water treatment (Initial Production Facilities) in the Zubair field, Southern Iraq.
Iraq PM Visits Oilfield Where Locals Harass Lukoil
Iraq's Prime Minister Haider al-Abadi visited the supergiant West Qurna-2 oilfield on Tuesday after the state-run South Oil Company warned output could be affected unless protests by locals demanding jobs were defused. The SOC last week sent…
Iraq's Oil Output at Stake for Want of Water
Project designed to raise oil extraction rates but red tape, cost disputes slow it down. Some mature fields already suffering from lack of water. A lack of water threatens Iraq's plans to raise its oil output, boost its stumbling economy and…
BP Operations Unaffected by Iraq Strife
BP chief executive Bob Dudley said on Tuesday the oil company's operations in Iraq were so far unaffected by violence in the country. "We are just very vigilant in Iraq. Non-essential production people have left but operations continue," he…
Pipeline Sabotage Drops Iraq's March Oil Exports
Iraq's oil exports fell to 2.39 million barrels per day (bpd) on average in March, the oil ministry said, down from a record 2.8 million in February due to repeated sabotage of a northern pipeline. The ministry said on Thursday that 2.37 million bpd were shipped from its southern Basra ports…
Shell Lifts First Crude Oil from Majnoon Oilfield
Shell announced today that the Majnoon oilfield it operates in partnership with South Oil Company (SOC), Petronas and Missan Oil in Southern Iraq has successfully exported its first shipment of crude oil to Shell trading, a significant milestone for the oilfield.
