Reaching 5 million barrels a day of capacity ‘not unrealistic’ Iraq may want to press OPEC for leeway if cuts are extended Iraq’s ambition to boost oil-output capacity to a record 5 million barrels a day is “not unrealistic” as the country prepares for the end of OPEC-mandated supply limits, consultants Wood Mackenzie Ltd. said. Iraq, which has been rehabilitating its oil
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Tankers loaded 122 million barrels of Iraqi crude at ports in the Arabian Gulf and Mediterranean Sea last month DUBAI: Oil tankers shipped the most crude from Iraq in six months in May, when OPEC’s second-biggest producer was negotiating with the group’s other members to persist with supply constraints to shore up the global market. Tankers loaded 122 million barrels of Ira
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Global oil markets remain volatile ahead of OPEC’s May 25 ministerial meeting on expectations that the producer group and its non-OPEC partners will extend production cuts until the end of 2017. The alliance agreed to reduce production by a collective 1.8 million barrels per day (mb/d) from January to June in a bid to rebalance oversupplied oil markets. Mounting concern
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Type of Projects Oil and Gas projects as part of the energy projects in Iraq fall within the three standard categories generally known in the international oil industry as upstream, midstream and downstream type of projects. These include but are not limited to: · Drilling oil and gas wells · Laying flow lines trunk lines and distribution lines; · Buil
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On Feb. 20, the Iraqi Oil Ministry signed a memorandum of understanding with the Iranian Oil Ministry to settle disputes over the joint oil fields and examine the possibility of building a pipeline to export crude oil from the Kirkuk fields, in the north of Iraq, through Iran. The ministry also wants to study moving Iraqi crude oil to the Iranian Abadan refinery. According t
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