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Baghdad Petroleum Suppliers And Traders

IRAQ PETROLEUM MARKET

Petroleum Prices in Iraq

Iraq still goes through a state of instability due to the internal sectarian conflicts, the international and territorial power struggles. According to the International Journal of Oil and Gas, there are over 6,000 petroleum products. Iraq is a very diverse country socially and culturally and demographic and cultural characteristics is an important issue regarding exports to Iraq. Meanwhile, the national companies distributing petroleum products in the Middle East, using the existing experts in the field

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Road, sea, air and fright shipments are various methods of sending cargo to Iraq. Asphalt, which is used to make roads and roofs flat or impenetrable, is one of the most widely used petroleum products. Iraq's most important export is oil. Countries such as China and India have the highest oil purchases from this country. In principle, the applicant countries for the import and purchase of petroleum products in the Middle East

What are Petroleum products?
What are Petroleum products?

In refineries, different parts of crude oil are separated and other usable products are introduced into production. According to the International Journal of Oil and Gas, there are over 6,000 petroleum products, most of which are used in our daily lives, and perhaps few people know about their relationship to oil. 

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How was bitumen discovered?
How was bitumen discovered?

The Achaemenid dynasty used bitumen for sealing and waterproofing the palace with the grandeur of Persepolis. Remains of it can be seen in the historical complex of Persepolis. Ancient Susa artists used a mixture of bitumen and heated it to obtain a composition that was very similar to stone. They used this material to make various objects as well as to make sculptures and fossils. 

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How to distinguish good paraffin from bad paraffin
How to distinguish good paraffin from bad paraffin

There are many things that can be considered in buying paraffin and first the use of paraffin should be determined because the quality of paraffin in each industry is determined by the use of paraffin in it, for example in the paraffin candle industry a lower percentage of oil is considered  as higher quality, but this is the opposite in the lubrication industry.

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What is petroleum coke?
What is petroleum coke?

Petroleum coke (Petcoke) is the final carbon-rich solid material obtained from the oil refining process and is a group of fuels known as coke. Petroleum coke is specifically obtained from a final cracking process, which is considered a chemical engineering process, and the hydrocarbons of the oil chains are divided into shorter chains in a section called the coke unit. 

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Geography, culture, and language of Iraq
Geography, culture, and language of Iraq

Iraq covers an area of ​​437,072 square kilometers (58th country in term of area, nearly a quarter of Iran). Most of Iraq is lowland and tropical. The west of Iraq is a desert and the east is a fertile plain, but part of Iraqi Kurdistan (northeast) is mountainous and cold. Iraq is also one of the largest oil-rich countries. The country has 143 billion barrels of proven oil reserves. 

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Oil rich, stable and with its own military and government, Iraqi Kurdistan boasts a mix of both security and growth and attracts nowadays thousands of foreign and Kurdish-owned companies. Erbil is considered to be an investment friendly destination, a solid commercial and economic base and a gateway to the Iraqi market. One of the central issues that enhanced the development of the Iraqi Kurdistan is the oil policy adopted in the region. Based on the Iraqi constitution enacted in January 2005, oil production and export is considered within the federal rights of the Kurdistan Region – hence the Kurdistan region is within the process of rapid transition to develop its natural resources. A production and sharing contract is concluded between the Government and a company willing to conduct petroleum operations on a block granted exclusively by the government in Kurdistan. In contrast to the production and sharing contract, the Iraq’s technical service contract (TSC) is the financial and legal framework adopted by the central government looking to engage with international oil companies (IOCs) for a long term oil exploration and development. The international companies will bear all the costs of their petroleum operations but they will be allowed to recover the total capital expenditures including any cost overrun once the production reaches an agreed upon minimum production level. Shall an international company enter into a production sharing contract with the Kurdish Government or a Technical service agreement with the Iraqi government?. The Iraqi Constitution of 2005 contains several provisions that address the control and distribution of natural resources. The Constitution states that all oil and gas is owned by all the people of Iraq in all regions and governorates. This ambiguity created a deadlock between the Iraqi government and the Kurdistan Regional Governorate as the federal government denies the right for the KRG to adopt unilateral and permanent measures over the management of the oilfields and considers any contract signed directly by KRG as illegal. However, the Ministry of Oil maintains the legality of the contracts awarded to the IOCs on the grounds that (1) the constitutional requirement for the approval of the Councils of only applies to international treaties and agreements between the State of Iraq and other States, and so commercial contracts with IOCs do not need such approval; and (2) the TSCs were awarded under the proposed Hydrocarbons Law, although this has not yet been approved by the Council of This cloud of uncertainty surrounding the legal status of the TSCs and PSCs is hindering international companies from investing comfortably in Iraq.
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The oil and gas market in Iraq is expected to grow at a CAGR of more than 2. Factors such as increasing oil and natural gas production and consumption, upcoming pipeline infrastructure projects, plans to improve oil infrastructure across the country, and rising investment in all three oil and gas sectors are expected to boost the growth for the Iraq oil and gas market during the forecast period. The Iraq oil and gas market report includes:. The Iraq oil and gas market is moderately consolidated. Some of the major companies in this market include Exxon Mobil Corporation, BP PLC, China Petroleum & Chemical Corporation, PJSC Lukoil Oil Company, Petroliam Nasional Berhad. 3 China Petroleum & Chemical Corporation. The Iraq Oil and Gas Market market is studied from 2016 - 2026. The Iraq Oil and Gas Market is growing at a CAGR of >2. Exxon Mobil Corporation, BP PLC, China Petroleum & Chemical Corporation, PJSC Lukoil Oil Company, Petroliam Nasional Berhad are the major companies operating in Iraq Oil and Gas Market.
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Crude oil production in Iraq averaged 4. Iraq’s crude oil production has been steadily increasing since declines in the late 1990s and early 2000s, and it has nearly doubled over the past decade. Iraq is the second-largest crude oil producer in the Organization of the Petroleum Exporting Countries (OPEC), after Saudi Arabia, and holds the world’s fifth-largest proved crude oil reserves. Nearly 90% of Iraq’s crude oil production comes from onshore oil fields in the southern part of the country; these fields are under the control of the central government in Baghdad. The remaining 10% of Iraqi crude oil production comes from oil fields in northern Iraq, mostly operated by the Kurdistan Regional Government (KRG). Disputes between the Iraqi central government and KRG have resulted in disruptions to production in the region, but current production has partially recovered as of mid-2018. Iraqi consumption of petroleum and other liquids has also been increasing over the past decade, and consumption reached 0. 8 million b/d of petroleum and other liquids in 2017. Iraq relies on imports of some petroleum diesel, gasoline, and much of the country’s petroleum and other liquids consumption is met by domestic production. Iraq produces significantly more oil than it consumes and exports the remainder. Total seaborne Iraqi crude oil exports averaged 3. 8 million b/d in 2017, mostly from terminals in southern Iraq. More than half of Iraqi seaborne exports go to markets in Asia. Exports to the United States account for 17% of total Iraqi exports. Iraq’s economy is heavily dependent on crude oil export revenues. More information on Iraq’s energy industry can be found in EIA’s recently updated Country Analysis Brief on Iraq. Tags: liquid fuels, oil/petroleum, CAB (Country Analysis Brief), Iraq .
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Iraq’s economy depends heavily on oil revenues. Iraq is one of the largest crude oil producers in the Organization of the Petroleum Exporting Countries (OPEC), and as such, Iraq also is one of the world’s largest holders of proved crude oil reserves. Most of Iraq’s major known fields are either producing or are in development, and all of them are located onshore. Iraq’s production growth during the past decade has slowed as a result of infrastructure bottlenecks in the south, supply disruptions in the north, and delays in awarding contracts. The Kurdistan Regional Government (KRG), the official ruling body of the region in northern Iraq that is predominantly Kurdish, has been involved in disputes with national authorities related to sovereignty. Northern Iraq crude oil production and exports have contributed to ongoing disputes between the central Iraqi government in Baghdad and the KRG. Before 2014, the central Iraqi government and its Ministry of Oil controlled and administered most of the crude oil production in the north, mainly at the Kirkuk field (Avana and Baba Domes) and the Bai Hassan field. However, northern production lacked access to export markets after the pipeline was severely damaged by militants and became inoperable in March 2014. The Baiji refinery (Iraq’s largest at the time) also closed in June 2014 after being attacked by Islamic State (IS) militants. –led airstrikes against the IS in August 2014, the Kurdish Peshmerga took over the oil fields in northern Iraq, and subsequently, the KRG resumed operations at the Avana Dome and Bai Hassan. The oil in northern Iraq is exported through the independent pipeline, which connects the Kirkuk area and other northern fields and Turkey’s Ceyhan port. Following the independence referendum in late 2017, the central government of Iraq retook the Avana Dome and Bai Hassan fields. KRG and the central Iraqi government attempted to cooperate on crude oil sales in northern Iraq, but they faced a number of challenges. KRG and the federal government of Iraq agreed to an oil transfer and payment scheme, and the KRG began transferring some of the crude oil at Turkey’s Ceyhan terminal to Iraq’s State Organization for Marketing for Oil (SOMO) in late 2014. The agreement gave Baghdad control over Iraq’s northern crude oil exports, and in exchange, the KRG received payments from Baghdad equal to 17% of Iraq’s federal budget. Even before the independence referendum in September 2017 and the takeover of certain Kirkuk-area oil fields by the central government of Iraq, the KRG had experienced budgetary constraints that caused payment delays to international oil companies (IOCs). Iraq’s Ministry of Oil has prioritized repairing parts of the pipeline that connect the northern field to the Baiji refinery. According to the Oil & Gas Journal (OGJ), Iraq is one of the top holders of proved oil reserves in the world. [2] Iraq has five supergiant fields (defined as holding more than 5 billion barrels of oil reserves) in the south. These supergiant fields account for almost 50% of Iraq’s total estimated reserves. An estimated 20% of oil resources are located in northern Iraq, including the areas of Kirkuk, Irbil, and Mosul. Iraq’s crude oil output has increased since 2003 despite infrastructure bottlenecks, supply disruptions in the north, and contractual delays. Although Iraq’s production growth has slowed since the annual growth of nearly 700,000 b/d in 2015, crude oil output increased by an average growth rate of nearly 170,000 b/d between 2015 and 2019 despite significant budget constraints, which resulted in lower spending plans and lower payments to IOCs. The Ministry of Oil in Baghdad oversees all oil and natural gas development and production in Iraq, except for the Kurdish territory, through its operating entities: the North Oil Company (NOC) and the Midland Oil Company (MDOC) in the north and central regions and the South Oil Company (SOC) and the Missan Oil Company (MOC) in the southern regions. In the Iraqi Kurdistan region, the KRG, through its Ministry of Natural Resources, oversees oil and natural gas development and production. IOCs are very active in Iraq, including in the Iraqi Kurdistan region. IOCs operate under technical service contracts (TSCs) in Iraq, which the Ministry of Oil in Baghdad signs. IOCs in the Iraqi Kurdistan region operate under agreements (PSAs). Iraq substantially expanded onshore pumping and storage infrastructure in the south between 2015 and 2018. Iraq’s Basra and Khor al–Amaya ports operate well below capacity following years of armed conflict and insufficient maintenance. Although capacity expansions since 2015 have alleviated some of the constraints, Iraq will need further crude oil export capacity expansions for additional crude oil production increases. SOMO storage capacity in the south as of March 2021 was about 10 million barrels, which is insufficient if the Iraqi government plans to increase oil output and exports through the southern ports. Associated natural gas production in Iraq could be used for reinjection, but much of the natural gas is currently flared and is slated for future power generation projects. Iraq’s South Oil Company (SOC) is undertaking the Common Seawater Supply Project (CSSP), which will treat seawater from the Persian Gulf and then transport it via pipelines to oil production facilities. [6] Generally, Iraq’s major southern oil fields require between 1. [7] The CSSP is key to Iraq’s plans to expand crude oil production. Most of Iraq’s major crude oil pipelines are located in the north and are currently not operable (Table 1). The Iraqi portion of the (IT) pipeline stopped operating in March 2014 following several attacks by militants. Iraq’s government intends to build a pipeline parallel to the original one although this project is still under discussion. Currently, only two major pipelines in northern Iraq are KRG’s main pipeline and the DNO/Tawke pipeline, both built by the KRG and its international partners and both linked to the Turkey pipeline to the Ceyhan port. Iraq exports four grades of crude oil: Basra Heavy, Basra Medium, Basra Light, and Kirkuk. Iraq introduced the Basra medium grade in January 2021 as a result of Iraq’s rising production from heavier crude oil fields that compromised the grade of Iraq’s light crude oil. When the West Qurna 2 and Halfaya fields came online, Basra Light became heavier, and as a result, Iraq launched the Basra Heavy grade in 2015. Basra Heavy is a heavy, sour (24° API, 4% sulfur) crude oil grade, which is mainly sourced from Iraq’s Missan province (Halfaya field and Missan cluster), the West Qurna 2 field, and the Gharraf field. Most of Iraq’s petroleum consumption needs are met by its domestic refineries; however, Iraq relies on imports of some petroleum products, including diesel, gasoline, and small volumes of kerosene. Total nameplate (design) refinery capacity in Iraq was nearly 1. The difference between design and effective capacity in the northern refineries is mainly attributable to Iraq’s war against IS in 2014–15, when facilities were destroyed or severely damaged. The Iraqi government plans to reduce petroleum product imports by rehabilitating the refining sector and building new refineries, but the government has struggled in its efforts to attract the foreign investment needed in the downstream sector. Iraq’s refineries produce more heavy fuel oil than is needed domestically and not enough gasoline and diesel to meet demand. Iraq’s oil ministry expects the new 150,000 b/d Karbala refinery to come online starting in 2022. Because of insufficient infrastructure to gather, process, transport, and store natural gas for consumption, export, or both, Iraq flares relatively large volumes of its natural gas production. To reduce flaring, Iraq’s South Gas Company (51%) signed an agreement with Royal Dutch Shell (44%) and Mitsubishi (5%) in 2011 to create a new joint Gas capture flared gas at three large southern oil West Qurna 1, and Zubair. Any natural gas not bought for use by Iraq’s power plants could be exported via the LNG plant. Iraq began importing natural gas from Iran in June 2017 to fuel electric power plants near Baghdad, including stations in Al–Quds, and Al–Sadr. Iraq generates electric power from liquid fuels, natural gas, and hydroelectric resources. Although Iraq’s generation capacity has increased during the past few years, it is not sufficient to meet its power needs. Much like its Gulf neighbors, Iraq faces a sharply rising demand for power. Parts of Iraq continue to experience power blackouts and managed shutdowns of the power distribution system, particularly during the summer, despite increased natural generation and increases in electricity imports from Iran. Iraq’s households and businesses must rely on expensive private, generators to address the shortfall. In addition, Iraq’s distribution system has deteriorated because of poor design, lack of maintenance, and electricity theft, which has resulted in large distribution losses, low voltage levels, and frequent Iraq also gets hydroelectric power from the Mosul dam, located on the Tigris River north of Mosul city. IS briefly took control of the dam in August 2014 following the start of the group’s occupation of Mosul, but KRG’s Peshmerga forces and the Iraqi army regained control of the dam shortly after. Iraq lacks sufficient natural gas, and at times, water, to fuel its power plants. Iraq’s electricity expansion plan expects its electricity will be fueled primarily by natural turbines. Most current natural gas production in Iraq is flared, and pipelines will need to be built to bring natural gas, which would otherwise be flared, to future power plants. Iraq’s oil and natural gas industry is the countr’s largest industrial customer of electricity in Iraq. However, Iraq has struggled to keep up with the demand for electricity, with shortages common across the country. The Iraqi government heavily subsidizes electricity at an estimated $11 billion. Most end users in Iraq do not pay for the electricity delivered, leaving the government to carry nearly all of the cost.
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https://www.mordorintelligence.com/industry-reports/iraq-oil-and-gas-market
https://www.openpr.com/news/2324191/iraq-oil-and-gas-market-size-status-demand-and-global-outlook
https://bsabh.com/oil-contracts-and-policy-in-iraq/