North Oil Company (NOC)


December Oil Exports: Volume Up, Revenue Down

By John Lee.

Iraq’s Ministry of Oil has announced interim oil exports for December of 115,517,974 barrels, giving an average for the month of 3.726 million barrels per day (bpd), a increase from the 3.377 bpd exported in November.

These exports from the oilfields in central and southern Iraq amounted to 112,450,367 barrels, while exports by the North Oil Company amounted to 3,067,607 barrels.

Revenues for the month were $6.100 billion at an average price of $52.803 per barrel.

November export figures can be found here.

(Source: Ministry of Oil)

Kirkuk Oil Exports “to stay Restricted”

By John Lee.

Exports from Iraq’s northern Kirkuk oilfields to the Turkish port of Ceyhan will reportedly remain at between 80-90,000 barrels per day, with most of the crude being used to feed local refineries, according to Iraq’s oil minister.

Current production at the Kirkuk oilfields stands at around 370,000 bpd, the head of Iraq’s North Oil Company (NOC), Farid al-Jadir, told the same news conference.

More here from Reuters.

Oil Ministry Finalises Export Figures for November

By John Lee.

Iraq’s Ministry of Oil has announced final oil exports for November of 101,313,958 barrels, giving an average for the month of 3.377 million barrels per day (bpd), a decrease from the 3.478 bpd exported in October.

These exports from the oilfields in central and southern Iraq amounted to 100,895,342 barrels, while exports from Kirkuk through the port of Ceyhan amounted to 261,466 barrels, and exports from Qayara were 157,150 barrels.

Revenues for the month were $6.195 billion at an average price of $61.150 per barrel.

October export figures can be found here.

(Source: Ministry of Oil)

Oil Exports Revenues Fall in November

By John Lee.

Iraq’s Ministry of Oil has announced interim oil exports for November of 101,156,808 barrels, giving an average for the month of 3.372 million barrels per day (bpd), a decrease from the 3.478 bpd exported in October.

These exports from the oilfields in central and southern Iraq amounted to 100,895,342 barrels, while exports by the North Oil Company amounted to 261,466 barrels.

Revenues for the month were $6.180 billion at an average price of $61.090 per barrel.

October export figures can be found here.

(Source: Ministry of Oil)

INOC takes over 9 State Oil Companies

By John Lee.

Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has transferred ownership of nine state-owned oil companies from the Ministry of Oil to the newly-created Iraqi National Oil Company (INOC).

The Minister is also the President of INOC.

The companies transferred to INOC ownership are:

  • Iraqi Oil Exploration Company
  • Iraqi Drilling Company (IDC)
  • State Oil Marketing Organization (SOMO)
  • North Oil Company (NOC)
  • Midland (Middle) Oil Company
  • Basra Oil Company (BOC)
  • Dhi Qar Oil Company (DQOC)
  • Missan Oil Company (MCO)
  • Iraqi Oil Tankers Company (IOTC)

IBN Expert Blogger Ahmed Mousa Jiyad has described the new company as “dysfunctional, unconstitutional and disintegrative“.

(Source: Ministry of Oil)

BP signs Contract to Develop Kirkuk Oil

By John Lee.

The Ministry of Oil has announced that BP has signed a contract to develop the Kirkuk oil fields.

According to Reuters, the deal with the North Oil Company (NOC) will see BP will boost output capacity from the six fields in the Kirkuk region to more than 1 million barrels of oil per day (bpd), three times current capacity.

In the past, BP has provided technical assistance to help develop the Kirkuk fields.

(Sources: Ministry of Oil, Reuters)

Turkish Firm wins Contract at Garraf

Turkish oil and gas services company Ergil has been awarded a design, engineering, fabrication, and testing contract by China Petroleum Engineering & Construction Corporation ( CPECC), for PetronasGarraf oil field.

The company says it has completed designing, manufacturing and supplying of 12 units 320-bar high-pressure pig receivers and launchers, 28 units pig signallers, 12 units manual pig jib crane and 8 units pig trolley.

The field is owned by Petronas (45%), Japex (30%) and the North Oil Company (25%).

(Source: Ergil)

Baghdad “bans” Kar Group from Kirkuk Oilfields

By John Lee.

The Iraqi parliament has reportedly banned Erbil-based Kar Group from operating oil fields in Kirkuk.

According to Rudaw, it assigned the state-owned North Oil Company (NOC) to take over oil production in the province and export it through Iraq’s State Oil Marketing Organisation (SOMO).

Reuters reports that Kar Group had been operating some of the Kirkuk oilfields since Kurdish Peshmerga forces took control of the city in 2014, following the retreat of the Iraqi army in the face of so-called Islamic State (IS, ISIS, ISIL, Daesh).

It is said to have failed to reach agreement with Baghdad after Iraqi forces re-took the area.

The Kurdish Regional Government (KRG) claims that the Khurmala field, part of the Kirkuk oilfields, is located inside its boundaries.

(Sources: Rudaw, Reuters)

Luaibi asks BP to Return to Kirkuk Oilfields

By John Lee.

Iraqi Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] (pictured) has asked UK-based BP to develop the disputed Kirkuk oilfields.

The move comes just a day after Baghdad regained control of the area from Kurdish forces. Control of the field remains split between the Kurdistan Regional Government (KRG) and Baghdad’s North Oil Company (NOC).

According to the Financial Times, BP’s chief executive Bob Dudley said before lunchtime yesterday that he had not yet heard from the Iraqi oil minister, but indicated the company could be interested.

(Sources: Ministry of Oil, Financial Times)

Baghdad warns Erbil not to Shut Down Kirkuk Oil

By John Lee.

Iraq is reportedly considering using security forces to prevent Kurdistan from blocking oil output from Kirkuk.

A spokesman for the North Oil Company (NOC) told Reuters that Kurdish officials indicated that they would shut down production at the Kirkuk oilfield, ostensibly for security reasons, but as a means of putting pressure on Baghdad.

Kirkuk produces around 200,000 barrels per day, out of total Kurdish production of over 600,000 bpd.

More from Reuters here.

(Source: Reuters)