Reuters reports that a former Iraqi oil minister said it was necessary for Iraq to regain the Iraqi Pipeline in Saudi Arabia (IPSA), which has not carried Iraqi crude since Saddam Hussein invaded Kuwait in 1990, and which was confiscated by Saudi Arabia in 2001 as compensation for debts owed by Baghdad.

Bahr Al Olum, who is currently a member of parliament, said he has discussed the issue with Saudi side expected that Riyadh would have a more “positive response” given an improved political environment between the two countries.

(Source: Reuters)

(Picture: Haider Al-Abadi meets King of Saudi Arabia, Salman bin Abdulaziz Al Saud, 19th June 2017)

By John Lee.

Iraq’s Ministry of Oil has announced preliminary oil exports for July of 100,144,814 barrels, giving an average for the month of 3.230 million barrels per day (bpd), slightly less than the 3.273 bpd exported in June.

The exports were entirely from the southern terminals, with no exports from Kirkuk via Ceyhan.

Revenues for the month were $4.386 billion at an average price of $43.798 per barrel.

June export figures can be read here.

(Source: Ministry of Oil)

By John Lee.

Iraq’s Ministry of Oil has announced final oil exports for May of 98.2 million barrels, giving an average for the month of 3.273 million barrels per day (bpd), slightly more than the 3.261 bpd exported in May.

Exports from the southern terminals totalled 97.5 million barrels, with 700,000 barrels exported from Kirkuk.

Revenues for the month were $4.144 billion, at an average price of $42.2 per barrel.

May export figures are available here.

(Source: Ministry of Oil)

By John Lee.

Iraq’s Ministry of Oil has announced final oil exports for May of 101.1 million barrels, giving an average for the month of 3.261 million barrels per day (bpd), slightly more than the 3.253 bpd exported in April.

Exports from the southern terminals totalled 100.4 million barrels, with 700,000 barrels exported from Kirkuk.

Revenues for the month were $4.623 billion, at an average price of $45.727 per barrel.

April export figures are available here.

(Source: Ministry of Oil)

By John Lee.

A Canadian court has reportedly ordered the seizure of a cargo of crude oil from the Kurdistan Region of Iraq (KRI).

The Iraqi Oil Ministry requested the seizure of the 721,915-barrel cargo on the “Neverland” oil tanker claiming that it has been unlawfully misappropriated by the Kurdistan Regional Government (KRG). The move is part of the long-running battle between Baghdad and Erbil over who has the right to sell crude oil from the semi-autonomous region.

According to Reuters, the Ministry has also filed a claim against commodity trading house Vitol S.A. and subsidiaries including Mansel Ltd, the charterer of the ship, and affiliate Finaval SpA di Navigazione, the owner of the ship, for $32.5 million.

(Sources: Reuters, Rudaw)

By John Lee.

Iraq’s Ministry of Oil has announced preliminary oil exports for June of 98,178,370 barrels, giving an average for the month of 3.273 million barrels per day (bpd), slightly more than the 3.262 bpd exported in May.

Exports from the southern terminals totalled 97,500,000 barrels, with 677,413 barrels exported from Kirkuk.

Revenues for the month were $4.130 billion at an average price of $42.067 per barrel.

May export figures available here.

(Source: Ministry of Oil)

By John Lee.

Iraq’s Ministry of Oil has announced preliminary oil exports for May of 101,134,586 barrels, giving an average for the month of 3.262 million barrels per day (bpd), slightly more than the 3.252 bpd exported in April.

Exports from the southern terminals totalled 100,445,000 barrels, with 679,580 barrels exported from Kirkuk.

Revenues for the month were $4,663 million at an average price of $46.108 per barrel.

April stats available here.

(Source: Ministry of Oil)

By John Lee.

Iraq’s Ministry of Oil has announced final oil exports for April of 97.6 million barrels, giving an average for the month of 3.253 million barrels per day (bpd), slightly less than the 3.259 bpd exported in March.

Exports from the southern terminals totalled 96.9 million barrels, with 700,000 barrels exported from Kirkuk.

Revenues for the month were $4.607 billion, at an average price of $47.203 per barrel.

March stats available here.

(Source: Ministry of Oil)

By John Lee.

Egypt has reportedly received two million barrels of oil from Iraq today.

The shipment was the first consignment from a deal reached between the countries in April, under which Iraq will supply 12 million barrels of oil annually to Egypt.

(Source: Prensa Latina)

(Pictured: Egyptian Petroleum Minister, Tareq al-Mulla)

By John Lee.

Iraq is planning to export 3.215 million barrels per day of Basra crude in June, according to a report from Reuters.

Sources told the news agency that the total is slightly lower than last month’s due to a reduction in supplies of the Basra Heavy grade.

The exports consist of 2.448 million bpd of Basra Light and 767,000 bpd of Basra Heavy.

(Source: Reuters)