Iraq will start exporting oil from the northern kirkuk fields to iran before the end of january, iraqi oil minister jabar alluaibi told reporters on sunday in baghdad. Rising oil production in libya and nigeria is raising concerns about opecs ability to boost crude prices, but conflicts in the two nations may still keep a lid on their output both opec members. The production contracts, which foreign oil companies enter into with the iraqi. Impact of a middle east oil export disruption by verleger, philip k.
Iraq to export kirkuk oil to iran before endjanuary al. Iraqi oil production has surged after years of disorder. Iranian oil production and exports, 1987 saeed taeb on. Producing oilfields types of iraqi oil crude oil production. To the fury of the iraqis and the french, it held down production to maximize profits. Iraq and iran boost oil exports in sales battle with. Iraq and kurds agree to restart kirkuk exports with. After a long history of wars and sanctions, iraq reemerged as a critical source of oil in recent years. Just a fraction of iraqs known fields are in development, and iraq may be one of the few places left where vast reserves, proven and unknown, have barely been exploited. Few regions lamented the collapse in oil prices this year like iraqi kurdistan, where dwindling investment and irregular crude sales. This excerpt from peter slugletts book britain in iraq shows how oil was the central. Like other oil reliant countries, iraq s economy has been severely hit by plummeting oil prices since 2014, plunging the nation into an acute financial crisis despite record crude oil export levels. Phillips, author of lincoln on leadership for today mr. The modern iraqi economy had been highly dependent on oil exports.
Shipments averaged 583,600 barrels a day year to date, the data show. Far from being a response to 911 terrorism or iraq s alleged weapons of mass destruction, petrodollar warfare argues that the invasion was precipitated by two converging phenomena. It is jointly owned by some of the worlds largest oil companies and headquartered in london, england, although today it is a paper entity with historical rights and plays no part in the modern development of middle eastern oil. Iraqi o il production has surged after years of disord er. The krg and baghdad have long been at odds, as questions over sovereignty, revenue sharing, and oil exports have led to years of political gridlock. Bad weather, dispute with kurdish region weigh on iraq oil. God willing, we will start before the end of the month, the minister stated. Kurdish oil exports under threat after independence. Iraqs hitherto agrarian economy underwent rapid development following the 14 july revolution overthrowing the hashemite iraqi monarchy, becoming the thirdlargest economy in the middle east by 1980. Due to relative security and peace in the region and more economically liberal and marketoriented policies, it has a far more developed economy in comparison to other parts of. Iraq was the worlds 5th largest oil producer in 2009, and has the worlds fifth largest proven. Around 30,000 barrels of crude oil will be delivered to kermanshah refineries in the first delivery, luaibi added.
Iraq exported 100 mn barrels in august, adrop from july. Over 90% of syrian crude oil exports go to european. The economy of iraq is dominated by the oil sector, which has provided about 99. This page provides iraq exports actual values, historical data, forecast, chart, statistics, economic calendar and news. Iraq began exporting up to 60,000 bpd of oil from kirkuk this month to an iranian refinery across the border via tanker trucks, in exchange for refined oil. A worker for iraqs south oil company calls in an oil tanker to fill up at the albasra oil terminal in february 2010. Kurdish oil exports under threat after independence referendum. Pdf oil and state building in iraqi kurdistan researchgate. Estimated net crude oil exports were 109,000 bbld in 2010, the vast majority of which went to oecd european countries. In june 1972, the baathist government in iraq nationalised the ipc and. Crude oil production in iraq remained unchanged at 4500 bbld1k in march from 4500 bbld1k in february of 2020. Putin urges caution on threats to kurdish oil exports.
Eias oil industry experts generally assessed iraqs sustainable production capacity at no higher than about 2. Following the successful delivery of the first batch, plans are to export 60,000 barrels per day from iraq to its iranian ally, as stipulated by a. Petroleum industry in iraq news newspapers books scholar jstor june 20 learn how and when to remove this template message. Russian president vladimir putin warned on wednesday that cutting off oil exports from iraqi kurdistan would raise global crude prices. Includes ancillary map of distribution of iraqs main ethnoreligious groups. The iraq petroleum company, known prior to 1929 as the turkish petroleum company, is an oil company which, between 1925 and 1961, had a virtual monopoly on all oil exploration and production in iraq. Iraq to export kirkuk oil to iran by end of the month.
Iraq and the politics of oil tells the truthand the truth about this grave historical blunder is long overdue. While the total oil production in the krg was 19,036,203 barrels in october, the average daily oil production reached 614,071,000 barrels. Just a frac tion of iraq s known fields are in develop ment, an d iraq may be one of the few places left where vast reserves, proven and unknown, have barely been exploited. Baghdad iraq on sunday exported the first shipment of natural gas in its history, a key development for the opec member struggling to feed a cashstrapped economy amid an expensive fight against. The invasion of iraq may well be remembered as the first oil currency war. Iraqs oil exports in december fell due to bad weather and a dispute with the kurdish region, but the country still saw sharply higher income last year compared to. The kurdistan regions economy is dominated by the oil industry, agriculture and tourism. Iraq was the worlds 5th largest oil producer in 2009, and has the worlds fifth largest proven petroleum reserves. Us slashes iraqi oil imports world news the guardian. The largest external trading partner for the region is turkey. Lead was the fastest grower among the top 10 export categories, up by 224.
Voglers first hand account of his years working to rebuild the iraqi oil sector is a mustread for students of postconflict reconstruction. Exports to embargoed or sanctioned countries continue to require authorization. Iraqi oil exports have halved overall, dropping from around an average of 2m barrels a day last year to just short of 1m barrels at the end of. Iraq wants the kurdistan region to stop independent crude exports and to hand over sales operations to the iraqi stateoil marketer somo, the. Prior to december 2015, crude oil exports were restricted to. Iraqi shia militia smuggles oil into iran by irina slav apr. Exports in iraq increased to 87260 usd million in 2018 from 57559 usd million in 2017. Iraq and iran boosted crude exports in september, taking advantage of a slower pace of shipments from rival saudi arabia to win buyers in key markets like china and the u. Discover librarianselected research resources on oil and the middle east from. Trucks at the iraniraq border crossing 20 file photo by islamic republic news agency.
Iraq exports first natural gas shipment in its history. Graph and download economic data for crude oil exports for iran, islamic republic of irnnxgocmbd from 2000 to 2021 about iran, crude, oil, reo, and exports. Late last year the iraqi government reached a deal with the kurds to end the dispute over the kurdish oil exports and civil service payments from baghdad. Businessman helps fledging state to become a leading exporter. How iraqs kurdish independence referendum could impact. But baghdads payments to the krg have been limited as the government struggled with a budget crisis. Germany, italy, france, and the netherlands comprised over 80% of syrias crude oil exports. A drawback of this dependence was the narrowing of the economic base, with the agricultural sector rapidly declining in the 1970s. Kurdistan regional government breaks monthly oil export. Iraq files new complaint against kurdish oil exports wsj. Iraq in talks to export kirkuk oil to iranian refinery.
Imports in iraq increased to 45736 usd million in 2018 from 38766 usd million in 2017. The regional government says that it will contribute no more oil to the iraqi governments oilexport. Economy in kurdistan region consists of the autonomous economy in kurdistan region in northern iraq. Exports from tawke and from a second site in kurdistan, at the taq taq field, started june 1, but baghdad has refused to pay the companies for the oil.
The following reports track oil sales through 20 march 2003. Iraqs largely autonomous kurdish region has stopped exporting oil in a dispute with baghdad. The graph below show irans oil production and oil exports, with noticeable declines beginning in 2012 that contributed to its 1520% decline in per capita gdp. For the first time in its history, iraq exports natural. Iran, iraq agree on kirkuk oil exports november 14, 2017 company news, crude oil, government, middle east, news, onshore 1 iran and iraq will soon sign a final agreement concerning crude oil exports from oilfields in the kirkuk region in northern iraq, which will initially cover an average of 30,000 to 60,000 barrels of oil per day. Iraq to export kirkuk oil to iran before januaryend. In ancient times plutarch wrote of oil bubbling from the. Baghdad reuters iraq wants the kurdistan region to stop independent crude exports and to hand over sales operations to the iraqi stateoil marketer. According to the european commission, european union eu countries imported 1. Iraq oil exports at record, unaffected by irans return to. Monthly export data direct from the horses mouth the iraqi ministry of oil can be seen here.
The official emphasized that that the oil would be transferred into the iranian territory by road tankers. Iraqi oil and gas law is a complicated mix of all of these sources of law. This page provides iraq imports actual values, historical data, forecast, chart, statistics, economic calendar and news. While oil production increased, a rise in arab nationalism precipitated demands for a. Iraq exports of crude oil and petroleum products by. Oil exports under the programme were suspended with the onset of. Kurdish exports averaged 515,000 barrels a day last year, according to cargo tracking compiled by bloomberg news. Until recently, oil from the fields around kirkuk which is an oilrich province in northern iraq was shipped to the turkish port of ceyhan via a pipeline owned and operated by the kurdistan regional government krg. Below you will find the last recordings for the indicator. Kurdish oil exports are under threat in iraq cnnmoney. The financial times report also discussed how an additional 17% of northern iraqi exports went to cyprus, where oil is often conveyed from ship to ship in order to mask the final destination of.
Record year for iraq oil exports in 2017, federal iraq averaged more daily crude exports than ever before and a 37 percent revenue increase over 2016. Middle east history opec organization of petroleum exporting countries iraqi history. Pakistani broker fuels iraqi kurdistan oil exports. Iraqi state oil firm somo and iraqs semiautonomous region of kurdistan have begun jointly exporting crude from the giant kirkuk oilfield again after cutting a preliminary deal on revenuesharing. This page provides the latest reported value for iraq crude oil production plus. Ministry of oil crude oil exports all oil leaving iraq goes either through the one operational pipeline heading into turkey, or through the sea por. The most recent exports are led by crude petroleum which represent 94.
Oil industry in iraq faces setback to revival the new. Kurdistan regional government breaks monthly oil export record nearly 18 million barrels, or about 578,000 barrels per day, were exported in may. In addition, crude oil export revenues accounted for over twothirds of gdp in. Iraqi kurds halt oil exports in dispute with baghdad. Iraq and iran have begun exchanging crude oil from kirkuk in a deal that will expand tehrans interests in its most important arab ally the iranian oil ministrys news agency shana said on sunday that crude oil from the kirkuk field in northern iraq is being shipped by truck to iran iran will use the oil in its refineries and deliver the same amount of oil to iraqs. Iraqs plan to increase oil output this year will go ahead, with exports running in january at a record level and unaffected by irans return to. List of books and articles about oil and the middle east online.