Iraq
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.
Article
September 2019
Another mixed outlook awaits the E&P sector
Article
April 2019
LUKOIL has commenced drilling new production wells at West Qurna-2 field as part of the second development phase.
Article
February 2019
Rising oil supplies and falling prices in second-half 2018 constrained global drilling, but activity should post a measured gain in 2019. Virtually all the global oil production increase is due to U.S. shale activity.
Article
October 2018
The Middle East and North Africa (MENA) remain the quintessential oil exporting region, replete with considerable assets and tensions.
Article
March 2018
Fugro has begun a series of geophysical and geotechnical surveys for ADNOC’s Hail and Ghasha development in the UAE’s Arabian Gulf.
Article
January 2018
TAM International has opened a new manufacturing facility in Obninsk, Russia—approximately 70 mi southwest of Moscow.
Article
October 2017
Middle East/North Africa grapples with production cut commitment, despite urge to boost output
News
May 22, 2017
OPEC’s second biggest producer is also its biggest cheater. And if past is prologue, that lengthens the odds the group will be able to squeeze too many more price gains out of its output cuts.
News
May 17, 2017
Iraq is on track for what may be the country’s highest monthly crude exports even as the Middle East nation supports moves to extend OPEC-led production cuts.
News
May 10, 2017
When one of the biggest crude producers in Iraqi Kurdistan downgraded reserves in March, doubts about the economic potential of the region -- a key player in the fight against Islamic State terrorism -- deepened. But evidence suggests it’s too soon to write off the emerging oil province.