Home
[size=35][size=35]US report: Iraqi oil exports will not exceed 3.3 million barrels per day in May[/size]
[You must be registered and logged in to see this link.]
[/size]
[You must be registered and logged in to see this link.][/size]
2023-05-11 | 02:33
[You must be registered and logged in to see this image.]
[/size]
1,197 views
Alsumaria News - Economy
[ltr]
0 seconds of 0 secondsVolume 0%
[/ltr]
Additional Iraqi oil export capacity from the southern export ports in the Persian Gulf is "limited," a senior Iraqi oil official told [You must be registered and logged in to see this link.] Global Platts.
It also continues to suspend production of more than 450 thousand barrels per day from the [You must be registered and logged in to see this link.] region and the government fields exported from the north through [You must be registered and logged in to see this link.].
As a result, it is unlikely that total Iraqi oil exports in May 2023 will exceed about 3.3 million barrels per day, with [You must be registered and logged in to see this link.] unable to boost production, according to available official information.
*Iraqi oil production
Data from the Ministry of Oil showed that Iraqi oil exports - excluding flows from the [You must be registered and logged in to see this link.] region - increased by 1% on a monthly basis, to 3.288 million barrels per day during April 2023. And in May 2023, [You must be registered and logged in to see this link.] began
reducing its production share. Voluntarily increased by 211 thousand barrels per day, to 4.22 million barrels per day, joining 7 other members of the OPEC + alliance that announced on April 2, 2023 voluntary production cuts totaling 1.66 million barrels per day until the end of 2023. The voluntary cuts come on top of the collective
reduction For the OPEC+ alliance of two million barrels per day, which began in November 2022, and will continue until the end of 2023.
In March 2023, Iraqi oil production grew by 60,000 barrels per day, to 4.39 million barrels per day, according to the latest survey conducted by [You must be registered and logged in to see this link.] Global Platts.
Iraqi oil exports via [You must be registered and logged in to see this link.]
The prime ministers of [You must be registered and logged in to see this link.] and Erbil had agreed on a temporary deal on April 4, 2023, to resume oil exports through the Turkish port of Ceyhan.
Despite numerous pledges of a speedy restart, no Iraqi crude has been loaded since Ankara halted exports on March 25, 2023, with the decision of the [url=https://www.alsumaria.tv/Entity/4156267480/%D9%85%D8%AD%D9%83%D9%85%D8%A9 %D8%A7%D9%84%D8%AA%D8%AD%D9%83%D9%8A%D9%85 %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A%D8%A9/ar/]International Court of Arbitration[/url].
Prior to the suspension, more than 450,000 barrels per day of Iraqi oil flowed into Ceyhan, with about 350,000 to 375,000 barrels per day of exports comprising [You must be registered and logged in to see this link.] Blend, known as KBT, from the semi-autonomous region's oil fields, and the 75,000 To the remaining 100 thousand barrels per day, most of which are Kirkuk crude.
On May 3, 2023, Iraqi Oil Minister Hayan Abdul Ghani said that he expected [You must be registered and logged in to see this link.] and Erbil to complete the agreement within two weeks to resume exporting crude oil through Ceyhan.
To resume exports, Ankara will also need to agree to reopen the [You must be registered and logged in to see this link.] --[You must be registered and logged in to see this link.] pipeline, which was closed as a result of the dispute.
Abdul-Ghani made it clear - in his statements - that [You must be registered and logged in to see this link.] is still examining oil pipelines on its part before resuming oil exports.
[You must be registered and logged in to see this link.] claims that its right to export all Iraqi oil is supported by the [url=https://www.alsumaria.tv/Entity/4156267480/%D9%85%D8%AD%D9%83%D9%85%D8%A9 %D8%A7%D9%84%D8%AA%D8%AD%D9%83%D9%8A%D9%85 %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A%D8%A9/ar/]International Court of Arbitration[/url] ruling issued by the International Chamber of Commerce on March 23, which stated that exports from the [You must be registered and logged in to see this link.] region through the port of Ceyhan were in violation of the 1973 agreement between [You must be registered and logged in to see this link.] and [You must be registered and logged in to see this link.].
* High Iraqi oil exports
In this context, revenues from Iraqi oil exports increased by about $392 million during the month of April 2023, amounting to 3.288 million barrels per day, compared to the quantities exported during the month of March, estimated at 3.255 million barrels per day.
The preliminary statistics - announced by the state oil marketing company "[You must be registered and logged in to see this link.]" - revealed that revenues from Iraqi crude exports during the month of April 2023 recorded about $7.796 billion, compared to March revenues that amounted to $7.404 billion.
The total Iraqi oil exports in April 2023 were about 98.634 million barrels, compared to 100.913 million barrels in March.
It is noteworthy that the federal government seeks to maximize oil export revenues during the current year (2023), by implementing a plan to increase export quantities by about 250,000 barrels of crude oil per day, during the second half of the year, bringing the total quantities to about 3.6 million barrels per day.
Negotiating [url=https://www.alsumaria.tv/Entity/48161/%D9%87%D9%8A%D9%88%D9%85%D9%86 %D8%B1%D8%A7%D9%8A%D8%AA%D8%B3 %D9%88%D9%88%D8%AA%D8%B4/ar/]Iraqi Kurdistan[/url]'s oil exports
In the same context, the Iraqi government assigned the State Oil Marketing Company "[You must be registered and logged in to see this link.]" to deal with [url=https://www.alsumaria.tv/Entity/48161/%D9%87%D9%8A%D9%88%D9%85%D9%86 %D8%B1%D8%A7%D9%8A%D8%AA%D8%B3 %D9%88%D9%88%D8%AA%D8%B4/ar/]Iraqi Kurdistan[/url]'s oil exports, which were sold and exported independently through [You must be registered and logged in to see this link.] before the verdict was issued.
[You must be registered and logged in to see this link.] has not yet signed agreements with companies to sell [url=https://www.alsumaria.tv/Entity/48161/%D9%87%D9%8A%D9%88%D9%85%D9%86 %D8%B1%D8%A7%D9%8A%D8%AA%D8%B3 %D9%88%D9%88%D8%AA%D8%B4/ar/]Iraqi Kurdistan[/url]'s oil, and new contracts with existing Kurdish traders are likely to be for only two months, according to what the Iraqi oil official told [You must be registered and logged in to see this link.] Global Platts.
The official added that the volumes of oil in the contracts had not yet been determined, but were likely to be "small".
Meanwhile, international oil companies operating in [You must be registered and logged in to see this link.] warn that they may stop investing, with many of them forced to stop pumping due to their inability to export.
And Gulf Keystone said, on April 27, 2023, that it is studying legal measures regarding stopping exports, which forced it to stop its production.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this link.]
[/size]
Economy
[size][size][You must be registered and logged in to see this link.][/size]
2023-05-11 | 02:33
[You must be registered and logged in to see this image.]
[/size]
1,197 views
Alsumaria News - Economy
It is expected that Iraqi oil exports in May 2023 will remain close to last month's levels, in light of the continued suspension of production in the Kurdistan region of Iraq and exports via Turkey.
[ltr]
0 seconds of 0 secondsVolume 0%
[/ltr]
Additional Iraqi oil export capacity from the southern export ports in the Persian Gulf is "limited," a senior Iraqi oil official told [You must be registered and logged in to see this link.] Global Platts.
It also continues to suspend production of more than 450 thousand barrels per day from the [You must be registered and logged in to see this link.] region and the government fields exported from the north through [You must be registered and logged in to see this link.].
As a result, it is unlikely that total Iraqi oil exports in May 2023 will exceed about 3.3 million barrels per day, with [You must be registered and logged in to see this link.] unable to boost production, according to available official information.
*Iraqi oil production
Data from the Ministry of Oil showed that Iraqi oil exports - excluding flows from the [You must be registered and logged in to see this link.] region - increased by 1% on a monthly basis, to 3.288 million barrels per day during April 2023. And in May 2023, [You must be registered and logged in to see this link.] began
reducing its production share. Voluntarily increased by 211 thousand barrels per day, to 4.22 million barrels per day, joining 7 other members of the OPEC + alliance that announced on April 2, 2023 voluntary production cuts totaling 1.66 million barrels per day until the end of 2023. The voluntary cuts come on top of the collective
reduction For the OPEC+ alliance of two million barrels per day, which began in November 2022, and will continue until the end of 2023.
In March 2023, Iraqi oil production grew by 60,000 barrels per day, to 4.39 million barrels per day, according to the latest survey conducted by [You must be registered and logged in to see this link.] Global Platts.
Iraqi oil exports via [You must be registered and logged in to see this link.]
The prime ministers of [You must be registered and logged in to see this link.] and Erbil had agreed on a temporary deal on April 4, 2023, to resume oil exports through the Turkish port of Ceyhan.
Despite numerous pledges of a speedy restart, no Iraqi crude has been loaded since Ankara halted exports on March 25, 2023, with the decision of the [url=https://www.alsumaria.tv/Entity/4156267480/%D9%85%D8%AD%D9%83%D9%85%D8%A9 %D8%A7%D9%84%D8%AA%D8%AD%D9%83%D9%8A%D9%85 %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A%D8%A9/ar/]International Court of Arbitration[/url].
Prior to the suspension, more than 450,000 barrels per day of Iraqi oil flowed into Ceyhan, with about 350,000 to 375,000 barrels per day of exports comprising [You must be registered and logged in to see this link.] Blend, known as KBT, from the semi-autonomous region's oil fields, and the 75,000 To the remaining 100 thousand barrels per day, most of which are Kirkuk crude.
On May 3, 2023, Iraqi Oil Minister Hayan Abdul Ghani said that he expected [You must be registered and logged in to see this link.] and Erbil to complete the agreement within two weeks to resume exporting crude oil through Ceyhan.
To resume exports, Ankara will also need to agree to reopen the [You must be registered and logged in to see this link.] --[You must be registered and logged in to see this link.] pipeline, which was closed as a result of the dispute.
Abdul-Ghani made it clear - in his statements - that [You must be registered and logged in to see this link.] is still examining oil pipelines on its part before resuming oil exports.
[You must be registered and logged in to see this link.] claims that its right to export all Iraqi oil is supported by the [url=https://www.alsumaria.tv/Entity/4156267480/%D9%85%D8%AD%D9%83%D9%85%D8%A9 %D8%A7%D9%84%D8%AA%D8%AD%D9%83%D9%8A%D9%85 %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A%D8%A9/ar/]International Court of Arbitration[/url] ruling issued by the International Chamber of Commerce on March 23, which stated that exports from the [You must be registered and logged in to see this link.] region through the port of Ceyhan were in violation of the 1973 agreement between [You must be registered and logged in to see this link.] and [You must be registered and logged in to see this link.].
* High Iraqi oil exports
In this context, revenues from Iraqi oil exports increased by about $392 million during the month of April 2023, amounting to 3.288 million barrels per day, compared to the quantities exported during the month of March, estimated at 3.255 million barrels per day.
The preliminary statistics - announced by the state oil marketing company "[You must be registered and logged in to see this link.]" - revealed that revenues from Iraqi crude exports during the month of April 2023 recorded about $7.796 billion, compared to March revenues that amounted to $7.404 billion.
The total Iraqi oil exports in April 2023 were about 98.634 million barrels, compared to 100.913 million barrels in March.
It is noteworthy that the federal government seeks to maximize oil export revenues during the current year (2023), by implementing a plan to increase export quantities by about 250,000 barrels of crude oil per day, during the second half of the year, bringing the total quantities to about 3.6 million barrels per day.
Negotiating [url=https://www.alsumaria.tv/Entity/48161/%D9%87%D9%8A%D9%88%D9%85%D9%86 %D8%B1%D8%A7%D9%8A%D8%AA%D8%B3 %D9%88%D9%88%D8%AA%D8%B4/ar/]Iraqi Kurdistan[/url]'s oil exports
In the same context, the Iraqi government assigned the State Oil Marketing Company "[You must be registered and logged in to see this link.]" to deal with [url=https://www.alsumaria.tv/Entity/48161/%D9%87%D9%8A%D9%88%D9%85%D9%86 %D8%B1%D8%A7%D9%8A%D8%AA%D8%B3 %D9%88%D9%88%D8%AA%D8%B4/ar/]Iraqi Kurdistan[/url]'s oil exports, which were sold and exported independently through [You must be registered and logged in to see this link.] before the verdict was issued.
[You must be registered and logged in to see this link.] has not yet signed agreements with companies to sell [url=https://www.alsumaria.tv/Entity/48161/%D9%87%D9%8A%D9%88%D9%85%D9%86 %D8%B1%D8%A7%D9%8A%D8%AA%D8%B3 %D9%88%D9%88%D8%AA%D8%B4/ar/]Iraqi Kurdistan[/url]'s oil, and new contracts with existing Kurdish traders are likely to be for only two months, according to what the Iraqi oil official told [You must be registered and logged in to see this link.] Global Platts.
The official added that the volumes of oil in the contracts had not yet been determined, but were likely to be "small".
Meanwhile, international oil companies operating in [You must be registered and logged in to see this link.] warn that they may stop investing, with many of them forced to stop pumping due to their inability to export.
And Gulf Keystone said, on April 27, 2023, that it is studying legal measures regarding stopping exports, which forced it to stop its production.
[You must be registered and logged in to see this link.]
» A deputy reveals the most dangerous files facing the Sudanese government’s program
» Parliamentarian: Amending the election law needs time to pass
» The work of the committees will bring nothing but disappointment to the people... procrastination an
» Under American sponsorship, Jordanian banks swallow the Iraqi dollar
» A member of the Parliamentary Oil Committee sets the date for ending the gas import file in Iraq
» The Minister of Oil announces the end of licensing rounds and reveals the number of participating co
» The Chinese company that won the development of Al Dhafriya field: The competition in the two licens
» Political praise for the Sudanese: He has an industrial and commercial mentality
» Melancholy Molly
» utube MM&C 5/11/24 Iraqi Dinar - IQD Update - International - IraqTiming - 2024 Budget Schedule - Sp
» The reality of the American presence... Objections are rising and the Sudanese are silent
» The work is discussing with the World Bank a project related to social protection beneficiaries
» Parliamentary Finance: The government intends to send the budget schedules this week
» The Emirates tops and Iraq does not exist...the list of the richest people in the Middle East and No
» A government plan to combat poverty and include 400,000 families with health insurance
» Iraq signs a memorandum of understanding with an American company to support the energy sector
» A deficit exceeding 75 trillion, and this is the date of its arrival.. Parliament’s finances talk ab
» Kirkuk.. A bank was caught receiving remittances for ISIS from a neighboring country
» The Minister of Commerce discusses with his Lebanese counterpart procedures for accelerating the con
» To find out who is negligent or not... The Basra Council forms a committee to follow up on the heads
» Iraq signs a memorandum of understanding with “Honeywell” to support the energy sector
» The judiciary reaches the final stage in the theft of the century file
» An economic expert proposes a solution to end the Jordan National Bank's "takeover" of the currency
» utube 5/12/24 Iraqi Dinar | Citi Bank Announced New Rate Of The Iraqi Dinar | Dinar News Today 202
» Reassurance to employees: “Salaries are not affected by delays in budget schedules.”
» Al-Anbeki: The framework is determined to proceed with the election of the Speaker of Parliament
» Al-Karaawi calls for revealing the truth about the presence of American forces
» Political conflict and corruption in Anbar oust two officials
» After joining Al-Halbousi, an agreement was reached to nominate Mahmoud Al-Mashhadani for the presid
» Within a month, the Central Bank of Iraq’s sales exceeded $4 billion
» The Iraqi Parliament decides to elect its new president next Saturday
» The Interior Ministry activates mobile stations to issue the unified card for communities abroad
» Jordan stops importing oil from Iraq
» The Association of Private Banks praises the Iraqi Central Bank’s approach to establishing digital b
» Iraqi fields cling to the foreign and kick the local... 3 reasons that embarrass private companies i
» The Minister of Commerce stresses the importance of creating a state of balance in the economy and e
» Among them is weak demand for gas...an economic diagnosis of the “most important” observations on th
» Proposing a parliamentary plan to get rid of job stagnation in state departments
» Involving and integrating the private sector into the investment map for sustainable development
» Population claims in the Maysan Marshes: Our water share is not distributed fairly
» The Iraqi Parliament reveals the latest developments in the “theft of the century”
» Jordanian industry exports to Iraq record an increase in 2024
» Implementation of 85% of the southern green belt in Karbala
» The Interior Ministry completes cleansing the areas of organized crime gangs
» Immigration: The displacement file will be closed next July 30
» Transport sets a date to close the file of development road route conflicts
» Service projects are launching non-stop
» Launching the Development Investors Map 2030
» Minister of Health to the Family Physicians Association: The year 2024 is the year of primary health
» The Iraqi Car Company wins the investment in the Al-Khulaysia area on the Iraqi-Syrian border
» Oil: No company has come forward to develop the Shihabi area within the provinces of Maysan and Wasi
» The House of Representatives sets next Saturday as the date for holding a session to elect its speak
» The Kurds refuse to share security positions in Diyala, “and there is nothing wrong with partnership
» Kurdistan is a repellent environment for young people... migration is still taking place and victims
» A Kurdish-Arab conflict prevents the harvest in Kirkuk and a call for the Sudanese to intervene
» An Iranian newspaper accuses Iraq of participating in a "water plot" against Tehran
» The Minister of Immigration directs all the ministry’s departments and branches to simplify procedur
» Al-Mandalawi: Parliament attaches utmost importance to human rights laws
» Al-Sadara was surprised and announced its joining Al-Halbousi
» Parliamentary Oil: Licensing rounds will pave the way for raising oil and gas production
» Al-Saadawi and the Tunisian Foreign Minister discuss activating the Baghdad-Tunisia line
» After joining Al-Halbousi, an agreement was reached to nominate Mahmoud Al-Mashhadani for the presid
» The Minister of Commerce stresses from Manama the importance of supporting efforts made to enhance A
» Minister of Oil: Most of the licensing round projects focused on gas patches to support electrical s
» Al-Awadi: Terminating the work of the UNAMI mission came at an Iraqi request and a UN recommendation
» Kurdistan Democratic Party: Resuming the export of the region's oil in the near future
» After two years of isolation, Al-Sadr is looking for a majority that will not force him to ally with
» Middle East Eye: A booming underground trade in alcohol in Iraq after it was banned in 2023
» 4 million for each year of imprisonment... Freedom in exchange for money... A controversial new Iraq
» The livestock sector in Iraq...indicators warning of a major crisis
» “Unfair” reconstruction in Iraq: areas where machinery is crowded and others still demonstrating for
» Economic statistics: The volume of internal debt in Iraq has risen to more than 76 trillion dinars
» Saleh explains the relationship between the rise in gold and the decline of the dollar and warns of
» The Minister of Oil sponsors the signing of an agreement to develop the Tuba oil field project with
» In numbers... Basra Oil explains the importance of the Tuba field after signing a contract to develo
» Electricity: The government provides energy at subsidized prices for (4) categories
» The electricity produced in Iraq covers 65% of demand... and 15 thousand megawatts is a “deficit”
» Parliamentary services: Government interest in Baghdad will make it one of the most beautiful capita
» Basra Council emphasizes work to qualify young people and place them in the labor market
» Politician: Al-Kadhimi was recommending that Plasschaert write “negative” reports about Iraq
» Trade launches operations to lift the ban on the ration card next to Rusafa
» utube 5/9/24 MM&C 0:02 / 46:46 PM - Al-Sudani - Golden Opportunity - Private Sector - Contra
» Bahr Al-Ulum calls for legislating the renewable energy law and localizing the solar panel industry
» In numbers: the rise in internal debt in Iraq
» Jordan demands that Iraq continue to export oil for another three months
» Iraq is the largest producer.. OPEC+ is pumping higher than scheduled and in anticipation of the Jun
» Close to the coordination framework: There is no intention to change the internal regulations of Par
» Central Bank sales exceed $274 million today
» But the representative of the exchange companies is pessimistic... Why did the dollar fall?... The C
» Jordan addresses Iraq to extend a memorandum of understanding to purchase oil
» Bribes increased from 3,000 to 50,000 dollars.. What is the condition of alcohol in Iraq after the p
» Presence movement: Sunnis and Kurds while the Americans remain in Iraq
» A deputy reveals the contents of the first water strategy in Iraq
» Soon...the second reading of the proposed red card law
» The discovery of 10 new oil and gas fields in the Anbar desert
» A bloc announces to “Al-Ma’louma” the date of the parliamentary speaker’s election session
» Parliamentary Finance explains the mechanism for amending the retirement law
» Sovereignty accuses Al-Halbousi of obstructing the election of a Speaker of Parliament