By tendering new blocks for exploration, all of them close to the border with either Iran or Kuwait, Iraq is trying to catch up on the effort to increase its oil and gas reserves that has been interrupted by two major wars with the two neighbors in 1980 and 1990. To convince international oil companies to participate in this round, the fifth since Iraq opened its oil sector to foreign…
Tag: oil ministry
Iraq, the IMF and the Oil Dilemma
The International Monetary Fund announced in July that it has approved a three-year, $5.34 billion loan for Iraq under the Stand-By Arrangement facility, which it said was focused on “implementing economic and financial policies to help the country cope with lower oil prices and ensure debt sustainability.” The promised financial assistance was made conditional on—among other things—Baghdad settling all debts to international oil companies (IOCs) without adding new debts. To satisfy that…
KRG Budget Calculation
There is often confusion and misunderstanding when analysts and journalists, especially among Kurdistan region observers, try to decipher how the region’s share of the federal budget is calculated. The budget itself is a public document. Being a law ratified by the Iraqi Parliament, it is published annually in the official gazette. However, the document contains a lot of summaries and nuances that are always subject to misunderstanding unless one has…
Crude Oil Exports Data
Crude Exports 2013– December Update Crude Exports 2012 Crude Exports 2011 Crude Exports 2010 Crude Exports 2009 Official Selling Price 2014– January Update Official Selling Price 2013 Official Selling Price 2012 Official Selling Price 2011 Official Selling Price 2010 Crude Exports 2010 – Allocations vs Nominations Somo Lifters Products Imports 2010 Somo Presentation May 2011 (Arabic)