Iraq to Boost Oil Output Capacity to 5 mb/d
Iraq’s oil output capacity is coming close to 5 million b/d. Yet, the OPEC member will comply with the global supply cut pact.
Iraq’s oil output capacity is coming close to 5 million b/d. Yet, the OPEC member will comply with the global supply cut pact.
Iraq approved the sales of the 20% stake owned by Royal Dutch Shell in the country’s West Qurna 1 oil field to Japan’s Itochu Corporation.
Iran is likely to start exporting natural to the city of Basra in southern Iraq can in March 2018, National Iranian Gas Company's Managing Director, Hamidreza Araqi, stated.
Iraq will begin to export crude oil, produced from the northern Kirkuk fields, to Iran before the end of January 2018, Iraqi Oil Minister, Jabar al-Luaibi, told reporters on January 7th.
Algerian state-owned energy firm Sonatrach is considering possible investments in oil exploration and natural gas projects in Iraq, Iraqi Oil Ministry announced on January 7th.
Iraqi oil exports from the southern Basra ports increased by 1% to 3.535 million barrels per day (mb/d) in December 2017, compared to 3.5 mb/d in August.
Zhenhua Oil will develop the southern part of the East Baghdad oilfield.
Exxon Mobil and Iraq are still negotiating a proposed project to enhance production from some of Iraq’s southern oilfields.
The Iraqi Oil Minister, Jabar El Luaibi, expressed confidence that oil markets will tighten next year.
Russia, Saudi Arabia, and Iraq were the top crude suppliers for China’s domestic market in November.