Gold – Bloomberg reported yesterday that so far this month, Iraq has purchased 36 metric tons of gold worth about $1.56 billion. That's the biggest purchase of the metal by a nation in three years.
Articles Tagged "iraq"
Oil – Demand and production increases are common themes in the outlook for oil in 2014.
Oil – A brief overview of oil price developments, supply and demand and significant market movers.
Oil – Iraq's oil production dropped sharply in October to 3.035 million b/d, a 200,000 b/d decline from September output of 3.235 million b/d although oil exports rose slightly to 2.624 million b/d, a new post-1990 record, oil ministry figures obtained Wednesday by Platts showed.
Gas – A brief overview of gas price developments, supply and demand and significant market movers.
Oil – Reuters reported that Kurdistan has made independent export deals for its oil and in doing so has pitted itself against Baghdad, which believes it should have total control over Iraq's oil and asserts that deals made with Kurdistan are illegal.
Oil – Reuters reported that ExxonMobil (NYSE:XOM) does not want to continue with its massive Iraq-based West Qurna-1 project. The company is reportedly concerned that the project will be less profitable than expected.
Gas – Bloomberg reported that in November Iraq will sign gas and oil exploration contracts with a variety of companies, including Russia's LUKOIL (LSE:LKOH) and Bashneft (OTC Pink:BNSFF), Pakistan Petroleum Ltd. (OTC Pink:PKKKY), Japan's Inpex Corp. (TSE:1605) and London's Premier Oil plc (LSE:PMO).
Oil – CNBC reported that Iraq has abandoned its plan to more than triple its oil production by 2017, but Hussain al-Shahristani, the country's deputy prime minister on energy, still believes Iraq could produce 9 million to 10 million barrels of oil per day by 2020. It currently pumps about 3.4 million barrels per day.
The Commodity Investor looks at the potential for Iraq to possibly quadruple its daily oil production.