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By John Lee.
Iraq’s Minister of Oil Thamer Ghadhban has announced the rehabilitation of the Al-Sumoud refinery in Baiji.
He said initial production rates are running at 70,000 barrels per day (bpd).
(Source: Ministy of Oil)
By Ahmed Mousa Jiyad.
Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.
SOMO Reveals More Important Data on its Marketing Activities
In my latest article I suggested that the State Oil Marketing Organization (SOMO) disclose details on its regular (term contract) marketing activities in addition to the spot sales.
SOMO posted, promptly, data on its regular oil sales for last May and June. As was the case with the previous discloser, this one is also unprecedented and, moreover, very useful as it sheds more lights on SOMO’s marketing activities.
The disclosed data came through four pdf. tables; each month has two tables- one for crude Basrah Light, while the other is for Basrah Heavy. Each table provides the following data: name of the Vessel/tanker, Quantity of loaded crude (in barrels); Bill/Lading Date; Destination (mostly countries) and names of the international oil buyers (IOBs).
Based on the disclosed data, SOMO exported, during the two months, more than 207 million barrels, 74.3% of which is Basrah Light and 25.7% Basrah Heavy. The comparison for the last ten years shows that Asian and European destinations enhanced their share from Basrah oil at the expense of the Americas. Some 168 tanker trips/shipments were loaded with oil to these regional destinations.
But the four tables provide no oil prices and no generated revenues for any shipments and there are a few missing, but important, items that need attention and could be easily addressed by SOMO.
This article is based on the tabulation and compilation of data from these four tables and other published sources. It will first address crude type and their market-crude destinations by highlighting a dramatic change occurred during the last ten years. Then it discusses the importance of the main importing countries, in each region, during the period. Also, the article emphasizes the importance of such disclosure for transparency in the petroleum sector and finally it ends with a few concluding remarks and suggestions.
Click here to download the full article in pdf format.
Mr Jiyad is an independent development consultant, scholar and Associate with the former Centre for Global Energy Studies (CGES), London. He was formerly a senior economist with the Iraq National Oil Company and Iraq’s Ministry of Oil, Chief Expert for the Council of Ministers, Director at the Ministry of Trade, and International Specialist with UN organizations in Uganda, Sudan and Jordan. He is now based in Norway (Email: mou-jiya(at)online.no, Skype ID: Ahmed Mousa Jiyad). Read more of Mr Jiyad’s biography here.
Former Unaoil executive pleads guilty to conspiracy to give corrupt payments
Basil Al Jarah, Unaoil’s former partner in Iraq, pleaded guilty on 15 July 2019 to five offences of conspiracy to give corrupt payments in connection with the UK Serious Fraud Office (SFO)’s investigation into Unaoil.
The offences relate to the award of contracts to supply and install single point moorings and oil pipelines in southern Iraq. A court order restricting reporting of the plea was lifted today.
In the same investigation, Ziad Akle, Paul Bond and Stephen Whiteley have been charged with conspiracy to make corrupt payments. A trial is scheduled to begin on 13 January 2020 at Southwark Crown Court.
(Source: UK Serious Fraud Office)
By Omar Sattar for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.
Iraq plans to launch pipelines to export oil through Jordan, Syria
As Iraq exports most of its crude oil production, the Iraqi government is trying to diversify its oil export outlets in a bid to avoid any damage that could result from the tense security situation in the Gulf region.
Iraqi Prime Minister Adel Abdul Mahdi said in a press conference July 9 said that the government was considering export routes through Syrian and Jordanian territory, and added that Baghdad is “worried about the current events in the Strait of Hormuz and their potential impact on the Iraqi economy.”
By John Lee.
US-based Honeywell has signed a memorandum of understanding (MoU) with the South Gas Company (SGC) to process 300 million cubic meters of gas per day from the Artawi field in southern Iraq.
(Source: Oil Ministry)
By John Lee.
Reuters has reported that the Iraqi government has authorised the Ministry for Oil to sign an initial agreement with Netherlands-based Royal Boskalis Westminster to build an “offshore oil export installation“.
IBN’s requests to the company for confirmation have not been returned.
(Source: Reuters)
By John Lee.
Iran’s gas and electricity exports to Iraq are reportedy expected to reach $5 billion by the end of the current Iranian calendar year, which ends on March 21, 2020.
Mehr news agency quotes the Secretary General of Iran-Iraq Joint Chamber, Seyed Hamid Hosseini, as saying that if Iraq agrees it is possible for Iran to barter the necessary goods in return for the gas and electricity, the Central Bank of Iraq (CBI) “should cooperate in this regard“.
(Source: Tehran Times)
Siemens, the Iraqi Ministry of Health and the Directorate of Health in Salah ad-Din Province have announced the completion of building repairs and the impending installation of Siemens medical equipment at the Al-Tawheed Center.
The clinic, located in Baiji, has been fully renovated by the Ministry of Health and will be equipped with Siemens technology to provide much-needed medical care to residents of the province, approximately 200km north of Baghdad.
Siemens will donate all medical and power equipment required for the Al-Tawheed Center to the German non-governmental organization Stiftung der Deutschen Lions, enabling them to complete center’s rehabilitation.
When complete, the center will have the capacity to treat up to 10,000 patients a year. The Siemens equipment includes a digital x-ray, a dental treatment center, state-of-the-art laboratory equipment including a hematology blood analyzer, a power transformer and other technical equipment required to ensure uninterrupted power supply.
Musab Alkateeb, CEO of Siemens Iraq, said:
“This health clinic is an important part of our commitment to the Iraqi people, and we are pleased to be working with the Ministry of Health and local leaders to return this important facility to the community.
“Siemens has a long relationship with the city of Baiji and its people, and we understand the importance of enabling access to high-quality, reliable healthcare as we work together to build the New Iraq.”
(Source: Siemens)
By Dana Taib Menmy for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.
Kurdistan Regional Government (KRG) Prime Minister Masrour Barzani presented his new Cabinet July 10, vowing to institute reforms and reinvigorate the semi-autonomous government in Erbil, Iraq.
Three main parties in Iraqi Kurdistan were able to reach an understanding on their ministerial nominations to finally form the new government: the Kurdistan Democratic Party (KDP), Patriotic Union of Kurdistan (PUK) and Gorran (Change) movement.
Parliament now has confirmed 21 ministers for the Cabinet, though the controversial post of the natural resources minister remains vacant.
Siemens, the Iraqi Ministry of Health and the Directorate of Health in Salah ad-Din Province have announced the completion of building repairs and the impending installation of Siemens medical equipment at the Al-Tawheed Center.
The clinic, located in Baiji, has been fully renovated by the Ministry of Health and will be equipped with Siemens technology to provide much-needed medical care to residents of the province, approximately 200km north of Baghdad.
Siemens will donate all medical and power equipment required for the Al-Tawheed Center to the German non-governmental organization Stiftung der Deutschen Lions, enabling them to complete center’s rehabilitation.
When complete, the center will have the capacity to treat up to 10,000 patients a year. The Siemens equipment includes a digital x-ray, a dental treatment center, state-of-the-art laboratory equipment including a hematology blood analyzer, a power transformer and other technical equipment required to ensure uninterrupted power supply.
Musab Alkateeb, CEO of Siemens Iraq, said:
“This health clinic is an important part of our commitment to the Iraqi people, and we are pleased to be working with the Ministry of Health and local leaders to return this important facility to the community.
“Siemens has a long relationship with the city of Baiji and its people, and we understand the importance of enabling access to high-quality, reliable healthcare as we work together to build the New Iraq.”
(Source: Siemens)