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

New pipeline in works to transport Iraqi oil to Turkey

Ankara and Baghdad are working toward building a new oil pipeline with the capacity to transport one million barrels per day from Iraq’s Kirkuk fields to the Turkish border.

“The Iraqi government is now examining tenders for the new oil pipeline between Iraqi and Turkey, after having finished with the engineering and technical studies,” Iraqi Ministry of Oil spokesperson Assem Jihad told Al-Monitor recently.

He added that construction will probably get underway in 2020.

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By John Lee.

Dutch company Royal Boskalis Westminster has signed a ‘memorandum of principles’ to construct an industrial island for the Basra Oil Company (BOC) in Iraq’s territorial waters in the Gulf.

Iraqi oil minister Thamir Ghadhban said the project will add export capacity of 3 million barrels per day (bpd).

The Dutch Ambassador to Baghdad, Eric Strating, said his country’s companies want to develop and strengthen relations with Iraq in all areas, especially in the field of energy.

On behalf of Boskalis, Ko de Blaeij said detailed studies would be completed within one year, with construction taking a further two years. He added that the company has been working In Iraq for more than three decades.

The project includes the construction of an integrated industrial island, a breakwater anchorage, two offshore pipelines and 4 berths, in addition to a residential complex and other service facilities.

(Source: Ministry of Oil)

By John Lee.

Iraqi oil minister Thamir Ghadhban has reportedly said he plans to offer a new Basrah Super Light grade, with up to 38 API gravity, in the next few years.

According to S&P Global Platts, he added that this would depend on the development of the country’s southern fields.

A Basrah Medium grade, with an API gravity of 29-30 and 2 percent sulfur, is dependent on refurbishments to Iraq’s southern export and storage terminals.

Iraq currently ships Basrah Light and Basrah Heavy, which it introduced in mid-2015.

(Source: S&P Global Platts)

By John Lee.

Oil minister Thamer al-Ghadhban (pictured) has said Iraq will reduce oil production from October, in the hope of achieving stability in the world oil market.

He added that talks with Iraqi Kurdistan on coordinating the export of oil from the two regions were in “advanced stages“.

(Source: Iraqi Ministry of Oil)

By John Lee.

The first shipment of Iraqi crude oil to Jordan under a new deal agreed in Februay has been sent on Sunday.

According to a statement from the Jordanian Minstry Of Energy And Mineral Resources, the first trucks left from Baiji station in Kirkuk on Sunday, and are expected to reach the oil refinery in the city of Zarqa on Tuesday.

Jordanian Energy Minister Hala Zawati said more than 200 tankers from Jordan and Iraq will take part in the transport, in an agreement with the transport firm Nael Thiabat and Company.

(Source: Jordanian Minstry Of Energy And Mineral Resources)

By John Lee.

Iraq’s Ministry of Oil has announced preliminary oil exports for July of 111,706,151 barrels, giving an average for the month of 3.603 million barrels per day (bpd), up from the 3.556 million bpd exported in July.

These exports from the oilfields in central and southern Iraq amounted to 107,520,044 barrels, while exports from Kirkuk amounted to 3,253,665 barrels, and from Qayara 928,963 barrels.

Revenues for the month were $6.342 billion at an average price of $56.770 per barrel.

July export figures can be found here.

(Source: Ministry of Oil)

By John Lee.

Iraq’s Ministry of Oil has announced final oil exports for July of 110,548,767 barrels, giving an average for the month of 3.556 million barrels per day (bpd), up from the 3.520 million bpd exported in June.

These exports from the oilfields in central and southern Iraq amounted to 106,500,015 barrels, while exports from Kirkuk amounted to 3,119,578 barrels, and from Qayara 929,174 barrels.

Revenues for the month were $6.692 billion at an average price of $60.536 per barrel.

June export figures can be found here.

(Source: Ministry of Oil)

By Huda Baroud for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.

Palestinian Prime Minister Mohammad Shtayyeh visited Iraq July 15 to discuss importing Iraqi fuel. This falls within the Palestinian Authority (PA)’s quest for gradual economic disengagement from Israel.

Shtayyeh was accompanied to Baghdad by a delegation composed of Minister of Finance Shukri Bishara, Minister of Foreign and Expatriate Affairs Riyad al-Malki, Minister of National Economy Khaled Assali, Minister of Agriculture Riyad Attari and Palestinian intelligence service head Majid Faraj. The delegation met with Iraqi Prime Minister Adel Abdul Mahdi, President Barham Salih and parliament Speaker Salim al-Jabouri.

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Iraq’s oil ministry said on Sunday it has no connection with an oil tanker seized by Iran’s IRGC in the Persian Gulf for smuggling fuel, a report said.

“The ministry does not export diesel to the international market,” the Arab country’s oil ministry said in a statement, Iraqi News Agency reported.

Iraq’s relevant authorities are working to gather information about the seized vessel, it added.

Two Iraqi port officials said initial information obtained show that the seized ship is owned by a private shipping company which is owned by an Iraqi private trader.

In a statement on Sunday, the IRGC Navy’s Public Relations Department said that the foreign ship had been captured by the military vessels patrolling the second naval zone in the Persian Gulf as part of the operations to detect and fight against organized smuggling.

The IRGC Navy’s patrol vessels confiscated the foreign tanker that was carrying 700,000 liters of smuggled fuel in a surprise operation after coordination with judicial authorities, it added.

According to the statement, the foreign ship was seized near Farsi Island, a tiny, barren island in the Persian Gulf.

(Source: Tasnim, under Creative Commons licence)

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

Iraq is planning to build a new oil pipeline to Jordan which it is banking on to revive revenue sources, after years of war and instability.

In addition to expanding refineries and oil fields, Iraq is also planning to rehabilitate a pipeline via Turkey.

But it is not the first time Iraqis have heard plans like these and many say they will believe it when they see some change in their lives.

Al Jazeera’s Osama Bin Javaid visited Basra refinery in the third part of his series on Iraq’s energy sector: