Insight Iraq

In-Depth News & Views

opec

Iraq seeks to process 100% of extracted gas in 4 years

Baghdad (IraqiNews.com) – Iraq seeks to increase its natural gas processing capacity to 100 percent within four years, despite a lack of sufficient infrastructure. While Iraq extracts 3.1 billion cubic feet of natural gas per day, it processes no more…

JAPEX expects Al-Gharraf oilfield to produce 200,000 barrels per day in 2024

Baghdad (IraqiNews.com) – Japan’s hydrocarbon exploration, production, and transportation company, JAPEX, expected on Tuesday that the production of the Al-Gharraf oilfield in Iraq will reach 200,000 barrels per day in 2024. During a press conference to announce the company’s financial…

Iraq to reject further OPEC+ oil output cuts

Baghdad (IraqiNews.com) – The Iraqi Minister of Oil, Hayan Abdul-Ghani, told reporters on Saturday that Iraq has implemented enough voluntary cuts in oil production and will not agree to any new cuts adopted by the OPEC+ group at its upcoming…

Iraq affirms its commitment to OPEC+ voluntary production cuts

Baghdad (IraqiNews.com) – The Iraqi Minister of Oil, Hayan Abdul-Ghani, confirmed on Sunday that Iraq is committed to OPEC+ voluntary output reduction. Abdul-Ghani clarified in a statement to the Iraqi News Agency (INA) that the Oil Ministry is eager to…

JP Morgan expects Iraq to increase oil output in 2025

Baghdad (IraqiNews.com) – JP Morgan sees that three key countries in the Organization of Petroleum Exporting Countries (OPEC) should increase their oil production by 2025. The Head of the Global Commodities Strategy team at JP Morgan, Natasha Kaneva, said in…

Iraq to compensate for surpassing OPEC+ quotas

Baghdad (IraqiNews.com) – OPEC+ said in a statement on Friday that Iraq and Kazakhstan, two members of the coalition, agreed to compensate for excess oil production by further reducing their oil output until the end of 2024. Iraq and Kazakhstan…

Iraq exported over 106 million barrels of oil in March

Baghdad (IraqiNews.com) – The Iraqi Ministry of Oil announced on Monday the quantity of oil Iraq exported during March, according to the final figures issued by the State Organization for Marketing of Oil (SOMO). The Iraqi Oil Ministry mentioned in…

Iraqi to produce 5 million barrels of oil per day

Baghdad (IraqiNews.com) – The Iraqi Minister of Oil, Hayan Abdul-Ghani, claimed that the Oil Ministry is getting actions to get to a creation capability of five million barrels for each day even with the critical constraints on oil markets and…

Iraq exports 800,000 barrels per day to India in one month

Baghdad (IraqiNews.com) Iraq shipped more than 800,000 barrels for every working day to India in February, according to info from the Indian Ministry of Commerce and Field. In accordance to the figures, India’s total imports of crude oil previous thirty…

Iraq

Iraq to adjust for Oil Over-Production

By John Lee. The Iraqi Ministry of Oil has reiterated its commitment to voluntary creation cuts in assistance of initiatives by OPEC+ member states to retain balance and equilibrium in the oil market. Even with reviews of regional creation outside…