Iraq Seeks To Double Crude Production, Rivaling Saudi Arabia


Jan. 1.17 | About: The United (USO)
Robert Boslego
Long-term horizon, portfolio strategy, oil & gas, medium-term horizon


Iraq signed 7 deals in December.

It is developing two giant oil fields.

Help from the U.S. and Russia to defeat ISIS would enable production to rise sharply over time.

Iraq says it will cut 210,000 b/d in 2017 to help OPEC.

Its long-term goal is to rival the Saudi production level.

Iraq recently awarded seven contracts to increase its production by over 4.7 million barrels per day (mmbd) in the years ahead. Lukoil (OTCPK:LUKOY), the largest oil firm in Russia, signed a deal to develop one of the world’s largest untapped oil fields, the West Qurna-2 reservoir. Norway’s Statoil (NYSE:STO) will share in the project. “We can announce that Lukoil has won the contract to develop the West Qurna-2 oilfield,” Oil Minister Hussein al-Shahristani said. The projected output for the field is 1.8 mmbd.

The equally large Majnoon field was auctioned to Shell (RDS.A, RDS.B) and Petronas (OTC:PNADF). In total, seven deals were signed in a two-day auction process.

Iraq’s production has been rising despite its battle with ISIS. Its November production was estimated to be 4.5 mmbd, the second highest in OPEC. An increase of 4.7 mmbd would put production over 9 mmbd, not much lower than that of Saudi Arabia.

During the presidential campaign, Trump had said he would “knock the hell out of ISIS.” Russian President Vladimir Putin has expressed hopes that Donald Trump will improve U.S.-Russian cooperation. But U.S. officials have legal constraints on how far they can go due to American law which currently prohibits any military-to-military relations with Russia as a result of its annexation of Ukraine’s Crimea region. Lukoil’s involvement in Iraq gives Russia an even greater incentive to destroy ISIS.

Iraqi Oil Minister Jabar al-Luaibi told the official Kuwait News Agency his country was committed to cutting as much as 210,000 barrels per day from production starting next month. But he had also claimed that Kurdistan would reduce its oil exports. However, that claim was disputed. “The Kurdistan Region will continue its oil exports as before and has not decided to abide by the OPEC accord to reduce the exportation of oil,” said Dilshad Shaaban, the deputy head of the energy and natural resources committee in the Kurdistan Parliament. Iran’s oil minister said there are no guarantees an OPEC production ceiling will be enforced.


US general praises Iraqi forces fighting in Mosul

IRBIL, Iraq: A senior U.S. military commander Sunday praised Iraqi forces fighting to recapture the northern city of Mosul from ISIS, saying they were “at their peak” and adjusting well to changing realities on the battlefield.

Brig. Gen. Rick Uribe told The Associated Press he agrees with the forecast given by Iraqi Prime Minister Haider al-Abadi that it would take another three months to liberate Mosul, the last Iraqi urban center still in the hands of the extremist group.

“We are on pretty close to where we want to be,” Uribe said, adding that military planners knew that while the initial push toward the city would be quick, progress would become “significantly” slower on the city’s fringes.

Speaking in Irbil, capital of the self-ruled Kurdish region in northern Iraq, Uribe said Iraqi forces north and south of Mosul have made progress since a new advance was launched last week after a two-week lull in fighting.

A government campaign to liberate Mosul and surrounding areas in Nineveh province began in mid-October, but most of the major fighting inside the city has been done by Iraqi special forces, known as the Counter Terrorism Service.

Since the new offensive began, the special forces have pushed forward in at least two neighborhoods in the city’s eastern sector, while the army’s 9th and 16th Divisions also made headway south and north of the capital, respectively. The 9th Division was joined by units of the militarized Federal Police, while the 16th was bolstered by other army units.

Uribe said the Iraqi forces are “at their peak,” and “will continue to improve because of the lessons they are learning on a daily basis.”

Uribe said Iraqi forces, backed by a U.S.-led coalition, would face a different fight when they cross to the west bank of the Tigris River, saying it will mostly be a “dismounted” battle fought in part on narrow streets, some of which were not wide enough for a vehicle to pass.

“It will be a different fight and they will adjust as they go from the east to the west. They are already planning these adjustments,” he said.

He went on to praise Iraqi efforts to avoid harming civilians.

“They have been extremely good at taking care of those civilians. I don’t know whether you would have seen this a few years ago,” he said. “That was part of the training (by the coalition). You got to treat people with dignity and respect. You cannot go into a city and make it worse than before.”

Iraqi authorities have advised the estimated one million civilians believed to be still inside Mosul to stay in their homes until the city is fully liberated, but fears of getting caught in the crossfire have forced at least 120,000 residents to flee. Many are leaving because they have run out of food and money, or lack of essential services like water and power.

Uribe said the coalition airstrikes that targeted bridges on the Tigris inside Mosul were designed to cut off ISIS supply lines to their fighters in the eastern sector.

“Those bridges are not destroyed, they are only degraded. They will be fixed by the Iraqis fairly quickly once they retake the city,” he said.

Uribe also said the U.S. has the “required” number of military personnel in Iraq at present. “You got to remember that we are here as guests of the government of Iraq, they’ve invited us, they’ve asked very specifically (for) what they need, what capabilities they need to be able to advise and assist them on the battlefield, not on the battlefield but in their battle,” he said.

According to the Pentagon, there are 4,815 U.S. troops in Iraq, including special operations forces. The Obama administration has authorized a maximum troop level of 5,262. That number does not include as many as 1,500 troops on temporary duty or short-term contracts.

Abadi prohibits military commanders to make any comments for 72 hours



A senior source revealed, on Sunday, for theprohibition of the Commander in Chief of theArmed Forces Prime Minister Haider al – Abadi participants commanders operations liberation of the city of Mosul Daesh terrorist gangs to make any statements for a period of 72 hours.

The source said that ‘Abadi , sent a formal letter yesterday it decided to ban the testimony ofstatements from military commanders on thebattlefield.’

He pointed out that ‘ the decision was in the public interest for the conduct of military battles there.’

The constituent units of the army and security forces and a counter – terrorism and federal police began four days ago , the progress in several subsidiaries of the left coast districts of Mosul, shortly after the start of the second phase to complete editing the left coast of Daesh terrorist gangs.

The security forces seized control of the 46 dead in the city of Mosul and 44 percent of the total area of Nineveh province , with the completion of the first phase of the battle restored from Daesh , which was launched last October 17.

And participate in the process of security forces and the Peshmerga forces and the international coalition ,composed of about 60 countries led by the United States.

The commander of the armed forces , Prime Minister Haider al – Abadi, the day that the ‘O operations are coming Nineveh entered a decisive stage and is proceeding according to the planned Vqguatna fighting inside the city ofMosul , currently high morale and spirit of victory and the enemy is witnessing a collapse and refracts’.


Iran oil minister to visit Baghdad to discuss KRG-Iran pipeline

By Rudaw 2 hours ago


Iran oil minister to visit Baghdad to discuss KRG-Iran pipeline

In 2015, the KRG and Tehran agreed to set up a pipeline to export Kurdish oil through Iran, but the proposal has yet to be implemented.

ERBIL, Kurdistan Region – A proposed pipeline to export Kurdish oil through Iran that has not yet been endorsed by Baghdad will reportedly be on the agenda when Iran’s oil minister visits the country next week to meet with his Iraqi counterpart, according to Iranian media.
According to Fars News Agency, Iranian Oil Minister Bijan Zanganeh is expected to arrive in Baghdad on an official visit next week to discuss a range of topics with his counterpart Abdul Jabbar Allibi, notably the future of the oil market, the role of Tehran and Iraq in OPEC, and a proposed pipeline to export Kurdish crude to international buyers through his country.
The agency has said that Zanganeh will specifically discuss the question of exporting the Kurdistan Region’s oil from Sulaimani province to Iran.
The Kurdistan Regional Government’s (KRG) envoy to Tehran was unaware of the planned visit. However, he noted that talks on oil export issues have been ongoing.
“Probably this visit is within the context of efforts being made by Iran to connect Kirkuk, Kurdistan Region, and all Iraq to Iran. And this way, export them to the world,” Nazim Dabagh, the KRG’s representative to Iran, told Rudaw.
In 2015, the KRG and Tehran agreed to set up a pipeline to export Kurdish oil through Iran, but the proposal has yet to be implemented.
The agreement was meant to be signed in May but the KRG was resisting making the final commitment, it was reported in the summer. Dabagh speculated at the time that Erbil was hesitant to sign because they have a 50-year deal with Turkey.
In mid-2016, an Iranian official in Kurdistan revealed that Baghdad had not yet endorsed the plan.
“Iraq has not given the green light to approve the project,” Ali Panahi, the Iranian deputy consul in Sulaimani told Rudaw in late May, referring to construction of the pipeline.
However, Dabagh had earlier told Rudaw that Baghdad had showed willingness to support the project if the oil exports to Iran also included Kirkuk’s oil production, which is currently being exported to Ceyhan in Turkey.
“Iraq will have no problem with the project if the oil from Kirkuk is also sent to Iran through that pipeline,” Dabbagh said.
The Kurdistan Region has an estimated 45 billion barrels of crude oil reserves, which it administers largely independently of Baghdad.
There is also between 10 to 20 billion barrels of oil outside the Kurdistan Region in the so-called disputed territories that are predominantly Kurdish. Since 2014, these territories have been patrolled by the KRG’s Peshmerga forces, including oil wells in Kirkuk and several fields in the Nineveh Plains.
The deal with Tehran would give the KRG access to Iran’s Persian Gulf to ship its crude oil to international markets. Iran made the offer to Kurdish officials after a series of disruptions halted the shipment of Kurdish oil to Turkey’s Ceyhan port on the Mediterranean coast.

– See more at:

urgent .. Hollande to visit Baghdad and Erbil on Monday and Kurdistan targets reveals visitUrgent .. Hollande to visit Baghdad and Erbil on Monday and Kurdistan targets reveals visit

 Twilight News    

 one hour ago

Twilight News / announced the representative of the Kurdistan Regional Government in France Dolmera, French President Francois Hollande said in his speech on the occasion of New Year’s Day he would visit Iraq and the Kurdistan Region on Monday.
Dolmera said in this regard that the aim of the visit was announced by Hollande is the war against al “Daesh” terrorist in Iraq, Syria, pointing out that France is more European countries that made sacrifices in this war.
Dolmera edit Mosul war promised last goal of the visit.
And on the importance of the second visit of the French president of the Kurdistan Regional Dolmera he stressed when he was terrorists “Daesh” a few kilometers only from Arbil has Hollande visited the region, noting that France’s close ties with the region and providing assistance to forces Alپeshmrگh It emphasizes the continuation of this approach.
And on the French position on the issue of the independence of Kurdistan Dolmera he stressed that France respects the will of the Kurdish people as it did previously when the first country which proposed the development of Latitude 32 to protect the people of Kurdistan in 1991.—-%D9%87%D9%88%D9%84%D8%A7%D9%86%D8%AF-%D9%8A%D8%B2%D9%88%D8%B1-%D8%A8%D8%BA%D8%AF%D8%A7%D8%AF-%D9%88%D8%A7%D8%B1%D8%A8%D9%8A%D9%84-%D8%BA%D8%AF%D8%A7%D9%8B-%D8%A7%D9%84%D8%A7%D8%AB%D9%86%D9%8A%D9%86-%D9%88%D9%83%D9%88%D8%B1%D8%AF%D8%B3%D8%AA%D8%A7%D9%86-%D8%AA%D9%83%D8%B4%D9%81-%D8%A7%D9%87%D8%AF%D8%A7%D9%81-%D8%A7%D9%84%D8%B2%D9%8A%D8%A7%D8%B1%D8%A9

Killing 152 element of Daesh and the destruction of three-wheeled him in Mosul 

  • Author: AHF, MSI
  • editor: AHF
  • 01/01/2017 19:33

It announced that the federal police headquarters, on Sunday, that Qtatha managed to kill more than 152 terrorists and the destruction of three-wheeled bomb in victory neighborhood east of Mosul.Leadership Media Directorate in a statement received (range Press), a copy of which, “The Fifth Brigade federal police forces able, today, killed more than 152 terrorists and the destruction of three-wheeled bomb driven by suicide bombers in the victory neighborhood east of Mosul.”

The statement added that “the security forces also managed to bring down the march of a plane and destroy the headquarters for eight (Daesh), in addition to securing Road 60 and through the adjacent neighborhood Kokjla victory on the eastern side of Mosul.”

IMF requires the suspension of Iraq’s Arab Free Trade Agreement

December 31, 2016 

A commission of economy and investment representative, on Saturday, for the requirement of the International Monetary Fund on the Iraqi government’s suspension of the Arab Free Trade Agreement.
The committee member said Harith al-Harthy, the “Fund request from Iraq to impose tariffs on imports from all countries, without exception, as it has been subjecting all goods supplied to the local market of Customs by 30% two months ago,” adding that “this means the suspension of the agreement free trade Arabic”.
He said Al-Harthy, that it “is currently being discussed the possibility of re-work agreement signed with Jordan to promote trade between the two countries, bilateral free trade.”

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