Iraq Business News: Oil & Gas

JUNE 21, 2025

Gulf Keystone Petroleum (LSE: GKP) provided an operational and corporate update ahead of its AGM on Friday, reaffirming its 2025 production and financial guidance despite regional uncertainties. By John Lee. Operational & Financial Strong safety track record, with Zero Lost Time Incidents for over 880 days Gross average production of c.44,900

Shutdown

Oil & Gas 360º

JUNE 27, 2025

will not complete scheduled deliveries of crude oil into the Strategic Petroleum Reserve until the end of the year due to maintenance, as much as seven months behind schedule, the Department of Energy said on Thursday. million barrels of deliveries to the SPR from January through May. billion for purchases and SPR maintenance.

Completion

Oil & Gas 360º

JULY 10, 2025

still needs the Strategic Petroleum Reserve at all. The American SPR is the world’s largest emergency oil storage, able to hold 714 million barrels, or the equivalent of 35 days of U.S. billion in an earlier iteration of the bill, with another $218 million earmarked for maintenance. oil consumption, when full. million bpd and 6.6

Oil

BOE Report

JUNE 26, 2025

will not complete scheduled deliveries of crude oil into the Strategic Petroleum Reserve until the end of the year due to maintenance, as much as seven months behind schedule, the Department of Energy said on Thursday. million barrels of deliveries to the SPR from January through [Read more]

Completion

OilPrice

MAY 15, 2025

Asias imports of refined petroleum products plunged in April to the lowest level since 2020, due to higher spring refinery maintenance at key fuel exporters in the region and softer demand for gasoline and diesel. million barrels in April, down from 195.54 Asias imports of light and middle distillates slumped to 166.37

Maintenance

Oil & Gas 360º

MAY 8, 2025

Gulf Coast refiners processing Mars crude enjoying a doubling of margins to some $16 per barrel, $7 margins in Singapore for Dubai crude, and a 36% margin jump in Asia for Arab Light crude. Marathon Petroleum posted a Q1 loss, citing weaker-than-expected margins, seasonal maintenance, and unplanned downtime as key drags on performance.

Oil

Egypt Oil & Gas

MARCH 6, 2025

million barrels per day (bbl/d), exceeding its quota within the OPEC+ group of oil producers, as Reuters reported. million bbl/d, which takes into account Kazakhstan’s tons per barrel ratio of 7.5. Kazakhstan has increased in February its crude oil and gas condensate production by 13% to a record of 2.12 from January to 1.83

BBL

Oil Gas Leads

MAY 19, 2025

We have decades of inventory below our $40 per barrel WTI cost of supply threshold this optionality is what separates the inventory haves from the have nots. Vicki Hollub, Occidental Petroleum U.S. Kaes Vant Hof Inventory only delivers resilience if its converted into barrels steadily and efficiently.

Basin

Iraq Business News: Oil & Gas

MARCH 20, 2025

Gulf Keystone Petroleum (GKP) today announced its results for the full year ended 31 December 2024. bbl) Gross operating costs per barrel decreased 21% to $4.4/bbl 20 million: Safety and maintenance upgrades at PF-2, scheduled for Q4 2025 and expected to require the shut-in of the facility for c.3 By John Lee. bbl (2023: $40.9/bbl)

BBL

Oil & Gas 360º

MAY 13, 2025

crude oil futures climbed more than $1 a barrel on Tuesday as the White House announced Saudi Arabias plans to invest $600 billion in the United States. a barrel by 1417 GMT. (Investing) –HOUSTON -U.S. Brent crude futures rose 88 cents, or about 1.35%, to $65.84 ” Reduced refining capacity – mostly in the U.S.

Crude Oil

Oil & Gas 360º

APRIL 9, 2025

West Texas Intermediate prices in the low $60-per-barrel range would likely cause U.S. WTIclosedbelow $60 a barrel Tuesday, down about 15% since Trump announced his tariff plan. Heavy Western Canadian Select traded at $10 a barrel less than WTI on Tuesday, according to a person familiar with the prices.

Oil

Oil Review Middle East

MAY 13, 2025

With non-OPEC+ producers around the world not growing their production and entering seasonal maintenance, the OPEC+ decision to add extra barrels in May and June fits well into that agenda. The US could take advantage of softening prices to fill the strategic petroleum reserve (SPR) with Middle East barrels.

Refinery

Oil & Gas 360º

MAY 12, 2025

billion to replenish and maintain the Strategic Petroleum Reserve, and cancels a congressionally mandated sale, following huge sales from the facility in 2022. billion to purchase oil to help replenish the SPR, the worlds largest emergency stockpile of crude, and $218 million for maintenance of the facility.

Petroleum