Iraq Oil Report

Iraq’s September production drops 200,000 bpd toward OPEC+ compliance

Thu, 15 Oct 2020 22:18:05 GMT

Under pressure from the OPEC-plus coalition to compensate for past over-production, Iraq makes painful cuts mainly from IOC-operated fields.

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Iraq outlines financial crisis response plan

Wed, 14 Oct 2020 19:40:16 GMT

Emergency measures include $35 billion in new borrowing, a total overhaul of the economy, and the potential devaluation of the Iraqi dinar.

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Kirkuk power supply awaits repair of Ajeel pipeline

Wed, 14 Oct 2020 13:57:34 GMT

Repairs of gas pipeline explosion 10 days ago identified additional problems, causing delays to electricity feedstocks.

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Rockets on Erbil were launched near Kurdistan oil operations

Wed, 07 Oct 2020 21:39:21 GMT

The Sept. 30 rocket attack near the Erbil airport highlights the reach of rogue militant groups and the risks they pose to the investment climate in both federal Iraq and Kurdistan.

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Facing liquidity crisis, Iraq presses for more emergency borrowing

Tue, 06 Oct 2020 22:47:42 GMT

If the Parliament does not pass a new stop-gap financing law, the government says it cannot fund basic expenses including civil servant salaries.

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Analysis: U.S. second-guesses its Iraq strategy

Fri, 02 Oct 2020 15:26:11 GMT

Strong commercial ties were at the center of the U.S.-Iraq strategic dialogue. Now, with a threat to close its Baghdad embassy, the U.S. is casting doubt on the future of the bilateral relationship.

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Loadings from Turkey lead slight Iraqi export increase

Fri, 02 Oct 2020 02:26:05 GMT

Iraqi oil sales are still near six-year lows, and revenue has dipped along with global oil prices.

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Iraq seeks another emergency financing law as 2020 budget stalls

Mon, 28 Sep 2020 21:19:25 GMT

Cabinet considers new borrowing legislation to fund massive deficits after political headwinds stopped attempts to pass a full 2020 budget.

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Iraq seeks to shift impact of OPEC cuts onto oil companies

Thu, 24 Sep 2020 23:07:15 GMT

Oil Ministry effort to scale down payment obligations could cause conflict with IOCs and discourage new energy investment.

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UPDATE: New 60-day sanctions waiver reflects ongoing U.S.-Iraq tension

Wed, 23 Sep 2020 15:39:28 GMT

When Mustafa al-Kadhimi took office, the U.S. granted Iraq a relatively long 120-day Iran sanctions waiver. That diplomatic honeymoon could be ending.

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Q&A: Jabar Yawar, Secretary General of the Peshmerga

Tue, 22 Sep 2020 21:38:12 GMT

In the fight against a persistent insurgency, long-delayed efforts to improve coordination between Kurdish Peshmerga and federal security forces could be key.

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Iraq joins global vaccine alliance as cases rise

Mon, 21 Sep 2020 20:19:47 GMT

As a new member of the COVAX facility, Iraq secures access to future vaccines — but in the meantime, other measures are needed to avoid a winter spike.

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Oil minister reshuffles Basra Oil Co. and other posts

Sun, 20 Sep 2020 18:57:20 GMT

New leadership for Iraq's largest state-run oil company, as well as the Iraqi Drilling Company and the Oil Ministry's Technical Directorate.

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Should-be allies remain rivals in Iraq’s disputed territories

Sun, 20 Sep 2020 17:24:38 GMT

Power struggles between factionalized security forces in northern Iraq have left security gaps that insurgents continue to exploit.

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Iraqi oil production rises despite OPEC pressure to cut

Fri, 18 Sep 2020 02:01:51 GMT

Nationwide crude output increased in August, led by IOC-operated fields, as Iraq balances OPEC pledges against tough financial realities.

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Iraq names new leaders for national oil company and other key economic posts

Mon, 14 Sep 2020 21:08:56 GMT

Advisors close to Prime Minister Kadhimi are elevated to top executive positions over economic and security issues.

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Security operation kicks off in Iraq’s oil hub

Sat, 05 Sep 2020 04:03:19 GMT

Iraqi security forces are beginning a multi-day operation targeting a recent tide of violence in Basra province.

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Iraq moves toward restructuring oil sector with INOC law revisions

Thu, 03 Sep 2020 15:03:15 GMT

Cabinet and Oil Ministry legal teams have proposed amendments to the 2018 law to re-constitute the Iraqi National Oil Company, after Iraq's highest court deemed many articles unconstitutional.

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August oil exports drop 5.5% but revenues rise

Thu, 03 Sep 2020 01:59:13 GMT

Falling export volumes suggest Iraq is following through on promises to make extra production cuts in support of an OPEC-plus effort to support global prices.

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Iraqi ports company defends tanker business against the Basra Oil Co.

Fri, 21 Aug 2020 01:41:03 GMT

The Basra Oil Company is attempting to take over oil tanker escort management from the Transportation Ministry’s ports company.

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