• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 8 hours How Far Have We Really Gotten With Alternative Energy
  • 10 hours If hydrogen is the answer, you're asking the wrong question
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 6 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 23 hours Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 5 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
AI, Bitcoin And Clean Energy Boom Are Straining U.S. Power Supply

AI, Bitcoin And Clean Energy Boom Are Straining U.S. Power Supply

Industry insiders have started acknowledging…

Saudi Arabia’s Non-Oil Revenue Hits 50% Of GDP

Saudi Arabia’s Non-Oil Revenue Hits 50% Of GDP

Saudi Arabia’s Ministry of Economy…

Islamic State Bombs Kirkuk Oil Pipeline

Islamic State militants have bombed an oil pipeline in Kirkuk, northern Iraq, the top security official of the Kurdistan government told local news outlet Rudaw. The terrorists launched two bombs at the pipeline yesterday, Idris Rafaat said, and the fire has yet to be extinguished.

It was not immediately clear which pipeline the Islamic State militants had blown up and what the effect on shipments from northern Iraqi fields will be.

Last year, after the Mosul offensive, the central Iraqi government said it had defeated Islamic State. However, terrorist cells remain, and the fight with these continues. Kurdistan is one of the places where there are cells, and according to Rafaat, the central government cannot do a lot about it.

"Due to the Peshmerga not existing in the region, a security vacuum has been created and the Iraqi Federal Police cannot control it as they are strangers in the area,” he said, as quoted by Rudaw. The official referred to the takeover of Kirkuk by the central Iraqi government last year, after an ill-fated independence referendum in Kurdistan angered Baghdad. It then promptly retook control of the oil fields around the northern Iraqi city.

Meanwhile, protests in southern Iraq continue as people challenge the government on issues ranging from clean drinking water to jobs. Oil fields have been natural targets for protests, but the government security forces have been swift to disperse them, including by using force.

Despite the unstable situation, Iraq is pumping oil at record rates, Oil Minister Jabbar Al-Luaibi said on Sunday, as quoted by Bloomberg. At 4.36 million bpd, the production rate is within the quota set for the country by OPEC, but it has the capacity to increase this to 4.75 million bpd, Al-Luaibi said, excluding oil from Kurdistan. Exports, he added, averaged 3.59 million bpd.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News