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01.07.25 - 21:57
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Iraq Claims Top Spot Among OPEC Crude Suppliers To The US (ZeroHedge)
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Iraq Claims Top Spot Among OPEC Crude Suppliers To The US
Authored by Charles Kennedy via OilPrice.com,
Iraq exported nearly 7 million barrels of crude to the U.S. in May, surpassing all other OPEC members.
The surge in Iraqi shipments meets U.S. demand for heavier Middle Eastern crude grades amid OPEC+ output cuts.
Rising oil exports provide vital fiscal support for Iraq, where crude sales generate about 90% of government revenue.
OPEC's second-largest producer, Iraq, was the single biggest supplier of crude from the cartel to the United States in May, per data from the U.S. Energy Information Administration (EIA) cited by Iraqi media outlets Shafaq News and IraqiNews.
Iraq ranked first among the 12 OPEC producers in terms of exports to the United States in May. Shipments totaled nearly 7 million barrels of crude, 6.95 million barrels to be precise.
The second-largest OPEC supplier to the U.S. was Nigeria with 6.803 million barrels of crude oil exports, followed by Saudi Arabi...
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23.05.25 - 14:12
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Iraq Seals Major Oil Deal With Chinese Company (ZeroHedge)
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Iraq Seals Major Oil Deal With Chinese Company
By Irina Slav of OilPrice.com
Iraq's government has signed a deal with Chinese Geo-Jade Petroleum to expand production at the Tuba oil field, build a refinery and two power plants.
Per an AFP report, the deal will also involve the construction of a petrochemicals facility and a fertilizer plant. The refinery that Geo-Jade Petroleum will build will have a capacity of 200,000 barrels daily. One of the power plants will have a capacity of 650 MW and the other, a solar power facility, will have a capacity of 400 MW.
“These projects with Geo-Jade represent a big leap in the development of Iraq's oil wealth and supporting of the national economy,” Iraq's oil minister, Hayan Abdel Ghani, said, adding that the deal would create thousands of jobs.
Geo-Jade Petroleum already operates in Iraq – it is in charge of the Khana field, which is slated to begin expanded production in 2026.
Chinese companies as a whole have built a solid presence in OPC's ...
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