Posts Tagged ‘Iraq’

OPEC oil output in March: A reversal of recent trends

OPEC output took a significant decline in March, according to the latest Platts survey. It also marked a reversal of recent trends, wherein Saudi Arabia would normally make up for shortfalls out of other OPEC countries. But this time, Iraq output fell, as did that of Libya, but Saudi output declined as well. You can read Platts’ analysis here.

IEA notes big jump in global oil supply in February

The oil market is no stranger to conflicting price signals, and the current period of relatively calm prices is a case in point.

The ongoing standoff between Russia and the West has so far caused only a relatively small, and short-lived rise in crude prices, despite the huge importance of oil trade between Russia and Europe, in particular.

If you want to know why the reaction was not bigger, you might want to take a look at the latest monthly report from the International Energy Agency, which has some very interesting data in it.

Read the rest of this entry »

OPEC oil output: a big jump, lifted by Iraq

The recent increase in the price of oil certainly isn’t happening because of any shortfall coming out of OPEC, at least not in February. Our monthly report on the production numbers, and our analysis, can be found here.

US GTL start-up could help Iraq cut gas-flaring if politics weren’t a factor

Call me an Iraq skeptic, but when I learned last week of US plans to deploy mobile power generation technology to help Iraq eliminate large-scale natural gas flaring, my applause was distinctly one-handed.

My initial thought: “Just how is that going to work in a country with a barely functional electricity transmission grid?” Read the rest of this entry »

Map: Iraq’s Oil & Gas Infrastructure

In January, Iraq  found itself once more  beset by a wave of insurgency, as Sunni extremists took hold of large areas of Ramadi and all of Fallujah, the two main cities in Anbar province. Given its strategic importance to global oil supply, our Design and Production team have put together this map detailing the complex web of Iraq’s oil and gas infrastructure.

Read the rest of this entry »

Middle East Christmas-week violence raises security, oil supply concerns

While much of the world has been praying for peace and goodwill, the Middle East has witnessed more mayhem and murder.

During Christmas week, the south of the region witnessed further sabotage attacks on Yemen’s Marib oil pipeline. Also in Yemen, there was a deadly army shelling of a funeral tent that killed 10.

In Iraq, al-Qaida-linked militants claimed responsibility for an attack on a television station headquarters that killed five journalists, bringing to 12 the number of journalists killed in the country in the past three months; a roadside bomb struck the convoy of the country’s acting defense minister, wounding two guards, only days after five senior army officers and 10 other soldiers had been killed during an operation against militants in western Iraq’s restive Anbar province; in the Dora area of Baghdad, other attacks targets Christians celebrating Christmas; in the country’s major southern oil producing province of Basrah, the disgruntled governor threatened to shut in Iraq’s roughly 2.2 million b/d of crude exports via the Persian Gulf over a revenue-sharing dispute with Baghdad.

Read the rest of this entry »

Is OPEC right to ignore the oil price pessimists?

OPEC has often been criticized in the past for failing to cut crude output until the tide of oversupply is washing up at its shores. On Wednesday, the cartel ignored all the latest tidings of doom and gloom and rolled over for at least another six months the 30 million b/d output ceiling that has been in place since January last year. What else could it have done?

Undoubtedly, there is a long list of possible developments that could put heavy downward pressure on oil prices.

Read the rest of this entry »

New Frontiers: Trying to sell the advantages of investing in Kirkuk oil

There’s still a lot of oil in the Kirkuk field in northern Iraq/Kurdistan. Getting companies to invest there is a bit more of a challenge, as Tamsin Carlisle discusses in this week’s Oilgram News column, New Frontiers.

Read the rest of this entry »

New Frontiers: a litany of oil pipeline/midstream woes bedevil the Mideast

It’s not enough to produce a lot of oil. It has to be taken to market. And in the Middle East, that’s increasingly a problem, as Tamsin Carlisle discusses in this week’s Oilgram News column, New Frontiers.

Read the rest of this entry »

Petrodollars: Investment wealth is being spread around among Middle East oil producers

In this week’s Oilgram News column Petrodollars, Tamsin Carlisle looks at the shift in Middle East investment spending to a broader base than just having the dollars showered on Saudi Arabia.

Read the rest of this entry »