TonenGeneral Imports Japan's First Kurdish Oil Cargo
TonenGeneral imported Japan's first cargo of Kurdish crude from northern Iraq in January, a source with direct knowledge of the matter said on Tuesday. Iraq's semi-autonomous Kurdistan region began selling oil directly to world markets in 2015 to get money for its survival and to fight Islamic State. Typically, Kurdish oil, exported via Turkey's Mediterranean port of Ceyhan, has gone to Europe. TonenGeneral imported about 1 million barrels of Kurdish oil last month, classified as "export blend of Iraqi origin" in data from the Ministry of Economy, Trade and Industry's (METI). The cargo was delivered to TonenGeneral's refineries in Kawasaki and Chiba, both of them near Tokyo, according to the source and Ministry of Finance data. TonenGeneral declined to comment on the deal.
Oil Deal Between Iraqi Kurdistan & Baghdad Welcomed
The United States welcomes an agreement between Iraq's central government in Baghdad and its northern Kurdistan region over the management of oil exports, U.S. Vice President Joe Biden said on Saturday. Biden told an Atlantic Council summit in Istanbul that Washington also supported the development of an oil pipeline from Iraq's Basra to Turkey's Mediterranean port of Ceyhan. (Reporting by Humeyra Pamuk and Dasha Afanasieva; Writing by Nick Tattersall; Editing by Jonny Hogg and Alison Williams)
Fifth Tanker of Iraqi Kurdish Oil Loading in Turkey
The fifth cargo of crude oil from Iraqi Kurdistan was being loaded at Turkey's Mediterranean port of Ceyhan on Thursday and the tanker was scheduled to depart on Friday, Turkish energy officials said. The Suezmax tanker Kalamari arrived at the port late on Wednesday, according to a shipping source, and will be carrying one million barrels of crude oil, officials said. (Reporting by Orhan Coskun, Humeyra Pamuk and Julia Payne in London; Editing by Daren Butler)
Crude Falls Below $114 as Iraq Supply Fears Ease
U.S. Brent crude dipped below $114 a barrel on Monday as worries about disruptions to Iraqi crude supplies began to look overdone given that exports have so far been unaffected by a Sunni Islamist insurgency. Brent was down 90 cents at $113.91 by 1336 GMT, off an intraday high of $115.66. U.S. crude for August delivery was down 54 cents at $106.29, after touching $107.45 earlier in the session. The July contract expired on Friday. Traders and analysts said that the rally had faltered as the market was becoming desensitised to the news out of Iraq.
Iraqi Kurdistan Loads Third Oil Cargo in Turkey
A third tanker carrying piped crude oil from Iraqi Kurdistan is being loaded at Turkey's Mediterranean port of Ceyhan, a source at the Turkish energy ministry told Reuters On Friday. The source said the loading was expected to be completed by Saturday and that the tanker would be carrying 1 million barrels of Kurdish oil. (Reporting by Orhan Coskun; Writing by Ece Toksabay; Editing by Nick Tattersall)
Iraqi Kurdistan ships 2nd Crude Cargo via Turkey
A second tanker carrying piped crude oil from Iraqi Kurdistan has departed Turkey's Mediterranean port of Ceyhan, Turkish Energy Minister Taner Yildiz said on Tuesday. Yildiz said the tanker sailed towards the Mediterranean but did not provide its final destination. Industry and government sources said on Monday that the second shipment sailed from Ceyhan, increasing the stakes in a battle with Baghdad over control of oil sales from the autonomous region. Reporting by Humeyra Pamuk
Bosphorus Sea Lane To Get Busier
A leading U.S. tanker brokerage has warned that the newly-opened Khazakstan to Novorossiisk oil pipeline will need between 17 and 28 million-barrel tankers to serve it, further clogging the congested Bosphorus sea lane. New York-based Poten and Partners foresaw pipeline capacity starting at 560,000 bpd and eventually reaching 1.34 million bpd. "This level of throughput may start bumping against the upper limit of allowable tanker transits through the Bosphorus," it said. The analysis comes in the same week that the Turkish minister for maritime affairs, Ramazan Mirzaoglu, announced a state investigation into the safety threat posed by swelling Bosphorus tanker traffic. "The Turkish straits are already at their limits.
AIOC Awaits Go-Ahead on Caspian Oil Project
The BP-led Azerbaijan International Operating Company (AIOC) said on Wednesday it expected the Azeri government to give a green light in August for the next phase of its Caspian oil production project. AIOC's president David Woodward told an oil and gas conference in the Azeri capital Baku the next phase aims to boost production to 350,000 barrels per day in 2005 from current levels of 100,000-130,000 bpd. The project envisages bringing the Azeri field onstream in early 2005, adding to volumes from the Chirag field, which has been in production since 1997. The cost of the expansion plans, called Phase One, is put at $3.3-3.4 billion, Woodward said.
Offshore Project To Get Green Light
The BP-led Azerbaijan International Operating Company (AIOC) expects the Azeri government to give a green light in August for the next phase of its Caspian oil production project. AIOC's president David Woodward said the next phase aims to boost production to 350,000 bpd in 2005 from current levels of 100,000-130,000 bpd. The project envisages bringing the Azeri field onstream in early 2005, adding to volumes from the Chirag field which has been in production since 1997. The cost of the expansion plans, called Phase One, is put at $3.3-3.4 billion, Woodward said. The next phase envisages the construction of a drilling platform for 48 wells, a gas compressing facility, an underwater pipeline from the Azeri field and modernization of an onshore oil terminal.