Oil Companies Eye Developing 11 Iraqi Oil, Gas Fields
Some 16 companies, including Exxon, Chevron, and Total, have expressed interest in 11 Iraqi oil and gas fields, the bidding for which takes place on April 15.
Some 16 companies, including Exxon, Chevron, and Total, have expressed interest in 11 Iraqi oil and gas fields, the bidding for which takes place on April 15.
Iraq exported 3.453 million barrels per day (mb/d) of crude oil from its southern ports in March, a slight increase from the numbers for February, which marked the third month in a downward trend.
Iraq may have double the current estimated amount of oil reserves, the country’s oil minister Jabar Al-Luaibi said.
A number of oil exporting countries have suggested a six-month extension to the supply cut deal agreed by OPEC and non-OPEC nations.
A senior Iraqi energy official has said that oil could be sent from Kirkuk in the north of Iraq to Iran's Kermanshah refinery in the coming weeks.
Iraqi President Fuad Masum stated on March 26 that Iraq supports OPEC’s agreement to cut oil output.
The Iraqi Ministry of Oil invited investors to submit proposals for the construction of an oil refinery in Anbar province, near the city of Haditha.
Shell has agreed to sell its 19.6% stake in the West Qurna 1 oil field in southern Iraq to a subsidiary of Itochu Corporation for $406 million.
American imports of Saudi crude oil dropped to 943 b/d in 2017, a 14% decrease from 2016, according to US government statistics.
Iraq exported around 96 million barrels of oil in February 2018, generating revenues of $5.726 billion, the oil ministry has announced.