SOMO | Egypt Oil & Gas - Part 2

Iraqi Oil Production Hits Highest Level since 2017

Iraq's crude oil production increased to 4.62 million per day (b/d) in July, recording its highest level since January 2017.

Iraq’s Southern Oil Exports Reach 3.42 MM b/d in July

Iraq’s oil exports from its southern ports have reached 3.42 million barrels per day (b/d) since the beginning of July.

Zhenhua Oil to Sign JV Agreement with Iraq’s SOMO

China's Zhenhua Oil is expected to sign an agreement with Iraq’s State Oil Marketing Organization (SOMO) to establish a joint venture (JV) company.

Iraq Resumes Sale of Basra Oil on DME

Iraqi state oil marketing company SOMO has sold Basra crude oil on the Dubai Mercantile Exchange (DME) for the first time since January.

Iraq Targets 60,000 b/d at Qayara Field Before 2019

Iraq is increasing crude oil production from its Qayara oil field with a target of 60,000 b/d before 2019, the field was nonoperating until 2017 as it was occupied by IS insurgents.

Iraq, China Joint Venture Deal by November

Iraq’s state oil marketer SOMO is closing in on a deal with China’s state-run Zhenhua Oil for a joint venture to help boost Iraqi oil sales to China, the world’s top oil importer.

Egypt Receives Third Cargo of Iraqi Crude in 2018

Egypt has received 2 million barrels of Iraqi crude, the third shipment of 2018.

Iraq Raises Oil Selling Price for Asia-Bound Crude

Iraq's State Oil Marketing Organization (SOMO) has raised its oil selling price for July exports of Basra Light and Basra Heavy crude grades to Asia.

Iraqi Oil Exports Fall to 96 M Barrels

Iraq exported around 96 million barrels of oil in February 2018, generating revenues of $5.726 billion, the oil ministry has announced.

Iraq to Auction 4M Barrels of Oil

Iraq will offer up to four million barrels of crude in a Platt’s auction this week.

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