Category: Iraq Oil Exports News

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Iraqi Parliament Approves 2021 Budget

By John Lee.

Iraq’s Parliament (House of Representatives) has approved the Federal Budget Law for 2021 on Wednesday night.

The budget is reportedly based on an oil price of $45 per barrel, and oil exports of 3.25 million barrels per day, giving a budget of 129 trillion Iraqi dinars ($89 billion) and a budget deficit of 28.7 trillion trillion Iraqi dinars ($19.79 billion).

The 2021 budget set an oil price of $45 a barrel with expected oil exports of 3.25 million barrels per day.

More here, here, and here.

(Sources: Iraqi Parliament, Bas News, Shafaq, AP)

The post Iraqi Parliament Approves 2021 Budget first appeared on Iraq Business News.

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Iraq Finalises Oil Exports for February

By John Lee.

Iraq’s Ministry of Oil has announced finalised oil exports for February of 82,877,757 barrels, giving an average for the month of 2.960 million barrels per day (bpd), up from the 2.868 million bpd exported in January.

These exports from the oilfields in central and southern Iraq amounted to approximately 79,105,329 barrels, while exports from Kirkuk amounted to 3,727,428 barrels.

Revenues for the month were $5.013 billion at an average price of $60.487 per barrel.

January’s export figures can be found here.

(Source: Ministry of Oil)

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Iraq Oil Exports Rise in February

By John Lee.

Iraq’s Ministry of Oil has announced initial oil exports for February of 82,877,757 barrels, giving an average for the month of 2.960 million barrels per day (bpd), up from the 2.868 million bpd exported in January.

These exports from the oilfields in central and southern Iraq amounted to approximately 79,105,329 barrels, while exports from Kirkuk amounted to 3,727,428 barrels.

Revenues for the month were $5.027 billion at an average price of $60.330 per barrel.

January’s export figures can be found here.

(Source: Ministry of Oil)

The post Iraq Oil Exports Rise in February first appeared on Iraq Business News.

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Oil Exports Slightly Up for January

By John Lee.

Iraq’s Ministry of Oil has announced initial oil exports for January of 88,922,697 barrels, giving an average for the month of 2.868 million barrels per day (bpd), up from the 2.846 million bpd exported in December.

These exports from the oilfields in central and southern Iraq amounted to approximately 85,870,503 barrels, while exports from Kirkuk amounted to 3,052,194 barrels.

Revenues for the month were $4.739 billion at an average price of $53.294 per barrel.

December’s export figures can be found here.

(Source: Ministry of Oil)

The post Oil Exports Slightly Up for January first appeared on Iraq Business News.

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Iraq signs $2bn Oil Deal with Chinese Firm

By John Lee.

Iraq has reportedly awarded a Chinese company a deal which would see it paying $2 billion upfront for a year’s supply of oil.

Alaa al-Yasiri, General Manager of State Oil Marketing Organization (SOMO) told Iraqi News Agency (INA) that a Chinese company had won the contract ahead of a European company, but did not identify the company.

Bloomberg had previously reported that China’s ZhenHua Oil was poised to sign the contract.

More here and here.

(Sources: Bloomberg, FT, INA)

The post Iraq signs $2bn Oil Deal with Chinese Firm first appeared on Iraq Business News.

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Jordan “negotiating New Oil Contract with Iraq”

By John Lee.

Iraq’s State Oil Marketing Organization (SOMO) has reportedly said that Jordan is negotiating with Iraq to resume purchases of crude oil.

Shafaq News Agency quotes the company’s Director, Alaa al-Yasiri, as saying that Iraq exported no crude oil to Jordan in December due to the expiration of the old contract.

More here.

(Source: Shafaq News Agency)

The post Jordan “negotiating New Oil Contract with Iraq” first appeared on Iraq Business News.

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Iraq Increases Oil Exports for December

By John Lee.

Iraq’s Ministry of Oil has announced initial oil exports for December of 88,211,750 barrels, giving an average for the month of 2.846 million barrels per day (bpd), down from the 2.709 million bpd exported in November.

These exports from the oilfields in central and southern Iraq amounted to approximately 85,195,608 barrels, while exports from Kirkuk amounted to 3,016,142 barrels.

Revenues for the month were $4.213 billion at an average price of $47.765 per barrel.

November‘s export figures can be found here.

(Source: Ministry of Oil)

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Iraq Finalises Oil Exports for November

By John Lee.

Iraq’s Ministry of Oil has announced initial oil exports for November of 81,262,376 barrels, giving an average for the month of 2.709 million barrels per day (bpd), down from the 2.876 million bpd exported in October.

These exports from the oilfields in central and southern Iraq amounted to approximately 78,190,444 barrels, while exports from Kirkuk amounted to 2,819,169 barrels. Exports to Jordan were 252,763 barrels.

Revenues for the month were $3.404 billion at an average price of $41.886 per barrel.

October‘s export figures can be found here.

(Source: Ministry of Oil)

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Iraq cuts Oil Exports in November

By John Lee.

Iraq’s Ministry of Oil has announced initial oil exports for November of 81,262,376 barrels, giving an average for the month of 2.709 million barrels per day (bpd), down from the 2.876 million bpd exported in October.

These exports from the oilfields in central and southern Iraq amounted to approximately 78,190,444 barrels, while exports from Kirkuk amounted to 2,819,169 barrels. Exports to Jordan were 252,763 barrels.

Revenues for the month were $3.395 billion at an average price of $41.778 per barrel.

October‘s export figures can be found here.

(Source: Ministry of Oil)

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