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Jun 25, 2014

With new grip on oil fields, Iraq Kurds unveil plan to ramp up exports

ARBIL (Reuters) – Iraq’s self-ruling Kurds outlined plans on Wednesday to swiftly ramp up oil exports now that their forces have seized control of Iraq’s main northern oil fields, a move that could tear up the settlement holding Iraq together since the fall of Saddam.

Kurdish Natural Resources Minister Ashti Hawrami told Reuters the Kurds had plans to increase their exports eight-fold by the end of 2015, including pumping oil from the fields taken by Kurdish fighters two weeks ago.

Jun 24, 2014

As euphoria fades, Mosul wonders what ISIL rule will bring

BASHIQA/MOSUL Iraq (Reuters) – Two weeks after Sunni insurgents overran northern Iraq’s biggest city Mosul, shrines lie smashed, non-Sunnis have fled and armed men have warned women not to walk in the streets unescorted.

Residents who welcomed the expulsion of the Shi’ite-led government’s soldiers and police from the mostly Sunni city are now asking what life will bring under the al Qaeda offshoot calling the shots, the Islamic State in Iraq and the Levant (ISIL).

Jun 22, 2014

Fuel shortages in Iraqi Kurdistan to last at least another week

ARBIL, June 22 (Reuters) – Fuel shortages in Iraq’s
autonomous Kurdistan region will last for at least another week,
government officials said on Sunday, as sweeping advances by
Sunni Muslim militants further south put a heavy strain on
supply lines.

Queues of motorists, some up to 2 km (1.2 miles) long, have
been one of the most visible signs of the militants’ battlefield
successes in Iraq for the people of Kurdistan’s regional capital
Arbil, a city filled with new office blocks and Western oil
workers barely an hour’s drive from Mosul, now in rebel hands.

Jun 16, 2014

After Kirkuk, Kurds want quarter of Iraq oil revenue

ARBIL, June 16 (Reuters) – A bolder Kurdistan, a bulwark
against ISIL forces and strengthened by the seizure of the oil
city of Kirkuk, wants a greater share of Iraq’s oil revenue.

The Kurdistan Regional Government believes its share of
total Iraqi oil sales should be as high as
25 percent, the KRG’s official spokesman said on Monday.

Jun 9, 2014

Second tanker of Kurdish oil leaves Turkey despite Baghdad protest

ANKARA/LONDON (Reuters) – A second shipment of Iraqi Kurdish crude has sailed from the Turkish port of Ceyhan, industry and government sources said, increasing the stakes in a battle with Baghdad over control of oil sales from the autonomous region.

The United Emblem suezmax tanker, carrying 1 million barrels of crude, sailed from the harbor on Turkey’s Mediterranean coast on Monday, Reuters AIS Live ship tracking showed.

Jun 4, 2014

Brent above $109 before U.S. oil stocks data, ECB decision

LONDON, June 4 (Reuters) – Brent crude rose above $109 a
barrel on Wednesday, as traders eyed U.S. oil inventory data and
looked to euro zone policies that may spur growth and boost the
region’s energy demand.

The European Central Bank will meet on Thursday to discuss
measures aimed at stimulating the economy after inflation in the
region dropped to record lows in May.

May 29, 2014

Brent oil rises back above $110, U.S. gasoline draw supports

LONDON, May 29 (Reuters) – Brent crude rose back above $110
a barrel on Thursday on signs of stronger demand from top oil
consumer the United States, with a sharp drop in its gasoline
stocks adding to recent data showing a strengthening economy.

The brighter demand outlook underpinned prices already
boosted by concerns about the loss of most supply from Libya and
a widening rift between the West and Russia, the world’s second
largest oil exporter, over Ukraine.

May 13, 2014

Brent rises towards $109 on Libya output doubt, Ukraine

LONDON, May 13 (Reuters) – Brent crude reversed early losses
and rose towards $109 a barrel on Tuesday, as traders expressed
doubt about how quickly supplies will return from Libya, while
the threat of further Western sanctions against Russia provided
additional support.

Libya said on Monday its western oilfields were ready to
reopen, having been blocked by protests since March, potentially
raising crude output from the North African country by 500,000
barrels per day (bpd).

May 13, 2014

Brent slips towards $108 as Libya eyes output boost

LONDON May 13 (Reuters) – Brent crude slipped towards $108 a
barrel on Tuesday, pressured by a possible sharp recovery in
Libyan oil production, while the threat of further Western
sanctions against Russia over Ukraine stemmed further losses.

Libya said on Monday its western oilfields and pipelines
were ready to reopen, having been blocked by protests since
March, potentially raising crude output from the North African
country by 500,000 barrels per day (bpd).

May 7, 2014

Brent above $107 on Ukraine, U.S. oil gap narrows on stock draw

LONDON, May 7 (Reuters) – Brent crude inched higher above
$107 a barrel on Wednesday, underpinned by rising tensions in
Ukraine, though its premium over U.S. prices narrowed after an
industry report showed a sharp draw in inventories in the
world’s largest oil consumer.

Brent rose 29 cents to $107.35 a barrel by 1206 GMT,
after ending the previous session 66 cents lower.