EconSource: Iraq Oil Exports Slip So Far in April, Still Near Record

Iraq’s oil exports have slipped so far in April to 2.92 million barrels per day (bpd), according to loading data and industry sources, although shipments remain close to a record high. If sustained, Iraq’s exports this month will be just short of the record of 2.98 million bpd set in March. Another strong month from Iraq adds to signs of continued high output from major members of the Organization of the Petroleum Exporting Countries. Meanwhile, British Petroleum (BP) has been lifting more crude oil cargoes in the past couple of months as payment for its work in southern Iraq. Low oil prices and the fight against the Islamic State (ISIS or ISIL) have forced Baghdad to delay billions of dollars of cash payments it owes to international oil companies. [Reuters, 4/20/2015]

Libyan oil port Hariga shuts down due to strike by security guards
Libya’s eastern oil port of Hariga has closed due to a strike by security guards over salary payments. A tanker docked at the port has been forced to stop loading crude. The port’s security guards say they have not received their salaries for several months. Guards have repeatedly closed the port located in Tobruk near the Egyptian border over salary payments, disputes which were solved in the past within days or weeks. [Reuters, 4/21/2015]

Abu Dhabi to invest over $25 billion in offshore oilfields
Abu Dhabi plans to invest over $25 billion in the next five years on boosting its oil production capacity from offshore fields, a senior official of Abu Dhabi National Oil Company has said. The plan is part of the UAE strategy to increase crude oil output potential to 3.5 million barrels per day (bpd) by 2017-18. Current UAE production stands at around 2.8 million bpd. [Reuters, 4/21/2015]

Also of interest
Yemen conflict keeps Brent crude oil around $63 | Reuters
Saudi family agrees to terms after biggest Mideast default | Bloomberg
Eni reports record oil production in Egypt | Amwal Al Ghad
Qatar to invest around $350 billion in fifteen years | The Peninsula