• British Energy shares up on new bids
    Published: May 16, 2008 at 9:17 PM
    LONDON, May 16 (UPI) -- Shares in British Energy rose sharply after several more bid proposals.
  • India's L&T signs deal with GE
    Published: May 16, 2008 at 9:11 PM
    MUMBAI, May 16 (UPI) -- India's Larsen and Toubro signed a deal with U.S.-based GE Energy.
  • Jordan, GNEP plan for nuclear energy
    Published: May 16, 2008 at 9:06 PM
    AMMAN, Jordan, May 16 (UPI) -- Jordan and the Global Nuclear Energy Partnership will work to develop nuclear projects.
» view more...
  • UPI Energy Watch
    Published: May 16, 2008 at 8:49 PM
    Bush asks Saudi Arabia to increase oil output; Venezuela threatens a spike in oil prices if it's attacked; Indian oil workers in Sudan kidnapped by locals
  • Fall River fights five-year battle against LNG facility
    Published: May 16, 2008 at 10:18 AM
    By JOHN C.K. DALY
    UPI International Correspondent
    WASHINGTON, May 16 (UPI) -- A five-year struggle continues between Fall River, Mass., residents and Weaver's Cove Energy LLC over a proposed LNG facility. While the Federal Energy Regulatory Commission approved the project, the Coast Guard opposes it as an unacceptable safety risk.
  • UPI Energy Watch
    Published: May 15, 2008 at 12:19 PM
    OPEC cuts estimate of growth in world oil demand for 2008; The United Arab Emirates' crude oil output increased last month; Philippine government may cut taxes on oil and gas
  • Nigerian militants attack oil vessel
    Published: May 15, 2008 at 11:10 AM
    By CARMEN GENTILE
    UPI Energy Correspondent
    Jimmy Carter and Barack Obama have called for a resolution to the conflict between rebels intent on crippling Nigeria's petroleum industry and government officials.
  • Mongolia, coal and inflation
    Published: May 14, 2008 at 7:56 PM
    By JOHN C.K. DALY
    UPI International Correspondent
    WASHINGTON, May 14 (UPI) -- Rising fuel and food costs are hitting Mongolia hard, with foreign investors exploiting the situation to pressure the country to open up its economy. Given the country's political isolation, sandwiched between China and Russia, its two major trading partners, Ulaanbaatar is being held over the proverbial barrel in negotiations with its giant neighbors, leaving its population of 2.9 million nervously awaiting further aftershocks from rising inflation.
  • Congress blocks administration from stockpiling oil
    Published: May 14, 2008 at 7:28 PM
    By ROSALIE WESTENSKOW
    UPI Correspondent
    WASHINGTON, May 14 (UPI) -- Faced with growing pressure to decrease gas prices, U.S. senators voted to stop stockpiling oil in the national reserve yesterday, but they rejected a plan to increase domestic production.
» view more...

Iraq oil exports up, production down


Published: March 25, 2008 at 1:42 PM
Print story
Email to a friend
Font size:
WASHINGTON, March 25 (UPI) -- Iraq's oil exports have increased in recent months, boosting state income, but overall oil production has dropped, according to Oil Ministry data.

The slowdown is likely due to a perfect storm of accidents, insurgents and a lack of electricity and fuels.

Iraq exported 1.82 million barrels per day in December, according to data published on the ministry's Web site. That increased to 1.92 million bpd in January and 1.93 million bpd last month -- $5 billion in oil revenue for February using the ministry averaged crude price at $89.79 per barrel.

The U.S. State Department's Iraq Weekly Status Report shows Iraq's oil income at $13.1 billion through March 19. Iraq's entire 2008 budget is $49 billion.

Exports from the north to Turkey have increased December through February, near doubling in overall flow and more than doubling revenues as the average price per barrel increased by more than $6. This is largely a result of an enhanced security structure and maintenance of the Kirkuk to Ceyhan, Turkey, pipeline.

"Recently, the pipeline resumed exporting about 250,000 to 350,000 bpd," Ministry spokesman Assem Jihad told United Press International. "We are hoping to increase the production to 500,000 bpd."

Exports from Basra have decreased. Iraq's oil capital and Persian Gulf port city, its oil industry has seen relatively few insurgent attacks and typically shoulders the oil economy of about 80 percent of the country's production and about 90 percent of exports. But sales from there of 1.63 million bpd in December dropped to 1.54 million bpd in February, according to the ministry's most current published data.

Separate documents detailing December and January overall production show it dropping from nearly 2.3 million bpd to just under 2.1 million bpd. Supply to refineries and power plants also declined.

The New Year saw fires at Iraq's main refineries and insurgent attacks on power lines, both of which negatively affect the ability to produce crude. And with upward momentum in production already, more crude was directed out of the country, as Iraqis languished in an ongoing shortage of fuels and electricity.

--

Ben Lando, UPI Energy Editor

--

(e-mail: blando@upi.com)

© 2008 United Press International. All Rights Reserved.
This material may not be reproduced, redistributed, or manipulated in any form.
Print story
Order reprints
Email to a friend
Post comment
See Also:
» Next in Energy - Briefing: ABB to transmit offshore wind for Germany