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Kurdistan seals oil products deal with Baghdad  BAGHDAD: Iraq's autonomous Kurdistan said on Thursday it will receive 147,000 barrels of oil products p e r day, as part of a deal concluded with Baghdad to end a dispute over oil payments.  The deal, which was first outlined last week, will solve only few points of a broader feud between Baghdad and Kurdistan over oil exports, energy policy and territory which have become increasingly contentious topics.  "This deal cannot solve all the problems currently but it is considered a good step," Kurdish Prime Minister Nechirvan Barzani said in a statement posted on the Kurdistan Regional Government (KRG) website on Thursday. Under the terms, the federal government in Baghdad will send 17 percent of its oil products to Kurdistan, which works out at 147,000 barrels per day, the statement said.  Baghdad and Kurdistan have been feuding over major oil companies like Exxon and Chevron who have signed exploration deals with the Kurdistan Regional ...

Angolan oil exports steady at 1.67mn bpd in November  LONDON: Angola is due to export around 1.67 million barrels per day (bpd) of crude oil in November, little changed from the initial loading schedule for October, a preliminary export programme showed on Monday. Fifty-two cargoes are due to load a total of 49.96 million barrels from Angolan export terminals in November, the preliminary programme showed. Preliminary crude oil export programmes are published well ahead of loading dates and are subject to change. Angola's loading programme for October ...
Uganda ups oil reserves estimate 40pc to 3.5bn bbls  KAMPALA: Uganda has officially revised upwards its estimated oil reserves by 40 percent to 3.5 billion barrels after appraisal activity in two blocks revealed more crude deposits, a senior government official told Reuters on Monday.  The east African country discovered commercial hydrocarbon deposits in its western region along the border with the Democratic Republic of Congo in 2006 and estimated reserves at 2.5 billion barrels. However, production has been repeatedly delayed by contractual disagreements, tax disputes ...
Uganda ups oil reserves estimate 40pc to 3.5bn bbls  KAMPALA: Uganda has officially revised its estimated oil reserves to 3.5 billion barrels from 2.5 billion barrels, the commissioner for a state agency in charge of petroleum exploration and production said on Monday.   Uganda discovered commercial hydrocarbon deposits in its western region along the border with the Democratic Republic of Congo in 2006 and estimated reserves at 2.5 billion barrels. Production of the oil has not begun, however.   "We have been doing a lot of appraisal work ...
Blast briefly halts Iraq oil flow: ministry  BAGHDAD: A blast briefly halted the flow of Iraqi crude through the Kirkuk-Ceyhan pipeline with Turkey on Sunday before officials were able to reroute the exports, an Iraqi oil ministry spokesman said. "A blast inside Turkey halted oil exports through one of the Kirkuk-Ceyhan pipelines early on Sunday. We managed to switch the crude flow to another line at 1400 GMT Sunday," Asim Jihad told Reuters. Before the blast, the Kirkuk-Ceyhan pipeline exports were were at normal ...
Crude oil ought to be $150 per bbl: Iran  DUBAI: Crude oil should be at least $150 per barrel, Iran's oil minister was quoted as saying on Sunday, and the sanctions-hit country's OPEC governor said current oil prices were not high enough to threaten the world economy. Benchmark Brent crude prices rose to nearly $118 a barrel on Friday, stoking fears that surging energy costs could harm fragile economic growth. Days earlier, Saudi Oil Minister Ali al-Naimi said he was worried by high prices and ...
Iraq sees exports reaching 6mn bpd by 2017  BAGHDAD: Iraq's Oil Minister Abdul-Kareem Luaibi said on Saturday he expected oil exports will reach 2.9 million barrels per day next year before hitting 3.5 million bpd in 2014 and 3.75 million bpd in 2015. Luaibi told an oil conference in Baghdad that exports will reach 6 million bpd by 2017. Current production in the OPEC country is at 3.2 million bpd, and exports so far are at an average of 2.6 million bpd. "We expect exports for ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln