Iraq
News
January 25, 2021
Iraq pledged to cut output in January and February after pumping more than its OPEC+ quota last year, and Libyan guards halted some crude exports after a pay dispute. Crude was also buoyed by a renewed climb in global equity markets as investors focused on the prospect of additional stimulus.
News
January 22, 2021
Iraq plans to cut oil output in January and February to make up for breaching its OPEC+ quota last year, according to the state company that markets the nation’s crude.
News
January 11, 2021
“The market has now reached a price level that potentially doesn’t reflect current fundamentals,” said Ole Hansen, head of commodities strategy at Saxo Bank A/S. “Oil could be next in line” to suffer from a stronger dollar after other commodity prices came under pressure.
News
January 08, 2021
The second-largest OPEC member, Iraq increased Basrah Light crude to buyers in Asia by 70 cents a barrel, to a $1.10 premium over the regional benchmark, according to a price list from the state oil marketer.
News
January 05, 2021
Futures in New York gained toward $48 a barrel after dropping the most in 2 weeks on Monday. Discussions will restart on Tuesday after a majority of members, including Saudi Arabia, opposed Russia’s proposal for another supply hike.
News
January 04, 2021
Talks between OPEC and its allies will continue for a second day after most members, including Saudi Arabia, opposed Russia’s proposal for another output increase in February, following the 500,000 barrels a day being added this month.
News
January 04, 2021
The difference of opinion between Saudi Arabia and Russia, the two de-facto leaders of OPEC+, could make for another tricky meeting. While Russia appeared to be outnumbered, the group typically requires a consensus among all members before concluding talks.
News
January 04, 2021
“At the risk of being seen as a killjoy in the proceedings, I want to urge caution,” Saudi Energy Minister Prince Abdulaziz bin Salman said at the start of the group’s video conference on Monday. “The new variant of the virus is a worrying and unpredictable development.”
News
January 04, 2021
A decline in the dollar is boosting the appeal of commodities that are priced in the currency, while as investors return to their desks at the start of the year, crude has emerged as a favored trade to hedge against a rise in inflation.
News
January 01, 2021
It’s the first time Baghdad has sought a prepayment deal, in which oil is effectively used as security for a loan. It’s also the latest example of China lending to struggling oil producers via state-controlled trading companies and banks.
News
December 02, 2019
Iraq said that OPEC and its allies will consider deeper production cuts, though the comments come after the coalition has widely signaled reluctance to take such action.
News
October 09, 2019
Weatherford International has been awarded two fully integrated rig contracts and one well services (through-tubing intervention) contract with a multinational operator in one of the world's largest proven oil fields located in Iraq.
News
February 08, 2018
DNO ASA, the Norwegian oil and gas operator, today announced a 50% hike in 2018 spending in the Kurdistan region of Iraq to $250 million net to the Company on the back of higher revenues and regular export payments.
News
February 01, 2018
OPEC likes to trumpet its record-breaking compliance with output cuts. Yet one of its largest members has been opening the taps and doesn’t plan to scale back any time soon.
News
January 30, 2018
OPEC’s second-biggest producer is relinquishing some control over its prized oil in exchange for better prices.
News
January 19, 2018
Plans to export natural gas from Iraqi Kurdistan got a boost after reserves were upgraded at two key fields. Yet successful development still hinges on the region’s turbulent politics.
News
January 15, 2018
Oil traded near the highest close in more than three years as Iraq echoed a call by the United Arab Emirates and other producers for OPEC-led output cuts to continue, despite recent price gains.
News
January 14, 2018
Iraq joined the United Arab Emirates, Qatar and Oman in calling for OPEC and allied producers to stick with their agreement to cut oil output until the end of the year, despite recent price gains.
News
January 11, 2018
Gas Plus Khalakan, the operator of the Shewashan oil field in the Kurdistan Region of Iraq, is pleased to provide an end 2017 update on the operations and activity that has occurred on the Shewashan oil field.
News
January 11, 2018
Kazakhstan has overtaken Iraq to become the biggest over-producer in the pact between OPEC and its allies to curb oil output.
News
January 08, 2018
Iraq’s parliament wants the Kurdish Kar Group to halt work at its oil operations in the disputed northern region of Kirkuk, which the central government reclaimed from the OPEC country’s semi-autonomous Kurdish authorities in October.
