Iraq's Oil and Gas Industry (2003-Present)

Musings On Iraq review Iraq and the Politics of Oil, An Insider’s Perspective

 

2003

Mar 17 On flight to Kuwait ORHA head Garner met with his oil team Garner said he was

concerned Rumsfeld picked ex-Shell CEO Philip Carroll to join group Said was bad image wise to have an ex-US oil executive involved Oil teams said if Iraq’s oil sector was destroyed by war would need someone with standing of Carroll to deal with it

 

Mar 25 Report Council on Foreign Relations est Iraq’s oil industry needed $5-$7 bil in investment for

2 yrs to return to 1977 oil production of 3.5 mil/bar/day Would need another $20 bil to increase production Other experts thought Iraq needed $40-$50 bil over 10 yrs

 

Mar 31 Israeli Infrastructure Min Paritzky said he wanted to reopen Kirkuk-Haifa pipeline by end

of 03 Was based upon promises INC’s Chalabi made before war that he would get Iraq to export oil to Israel after Saddam

(Musings On Iraq review Iraq and the Politics of Oil, An Insider’s Perspective)

 

Apr 9 VP Cheney said with a little investment Iraq could produce 2-3 mil/bar/day of oil by end of

2003

 

Apr 12 Report experts didn’t think Iraq’s oil would earn enough money to pay for country’s

reconstruction

 

Apr 23 Iraq oil started flowing for first time since US invasion Iraq shut down oil flow day war

started Mar 20

(Musings On Iraq review Iraq and the Politics of Oil, An Insider’s Perspective)

 

Apr 24 UN Res 1476 extended Oil For Food Program past US invasion

 

Apr 27 ORHA and Oil Ministry officials met and picked top positions in ministry

(Musings On Iraq review Iraq and the Politics of Oil, An Insider’s Perspective)

(Musings On Iraq Rebuilding Iraq’s Oil Sector In A War Zone 2003-2005)

 

May 2 Oil Ministry re-opened after invasion Thamir Ghabban announced as new Oil Minister

(Musings On Iraq review Iraq and the Politics of Oil, An Insider’s Perspective)

(Musings On Iraq Rebuilding Iraq’s Oil Sector In A War Zone 2003-2005)

 

May 15 CPA appropriated $2 bil for rebuilding Iraqi security forces electricity oil

 

May 16 CPA picked Phillip Carroll to be top US adviser to Oil Ministry Said he was against

privatizing industry

 

Jun 10 Report South Oil Company Rumaila and Zubayr oil fields in Basra looted Interim Oil Min

Ghabban was trying to remove Baathists from Oil Min Wanted to maintain state run system Ghabban and US said oil production would reach 3 mil/bar/day by end of 2003 Didn’t happen Most production supposed to come from Rumaila which was stripped of equipment

 

Jun 12 1^st bombing of an Iraqi oil pipeline near Kirkuk after invasion

 

Jun 23 Oil Ministry made first foreign oil sale to Turkish company since invasion

(Musings On Iraq review Iraq and the Politics of Oil, An Insider’s Perspective)

 

Jul 21 Report Iraq produced 1^st new bath of oil since invasion Before sold oil stored in Turkey from

before war Pipelines were being attacked throughout Iraq Iraq imported gas from Kuwait Jordan Turkey others

 

Aug 9 Mass robberies of oil tankers in Basra Police fled their stations Left Czech and

            British troops to try to stop looting Fired on thieves 2 killed 4 wounded

 

Aug 15 Oil pipeline to Turkey bombed in Baiji, Salahaddin shutting down exports for

            2^nd time in a week

 

Aug 27 ORHA oil team met with 3 Oil Ministry director generals Said US not in Iraq to

take its oil Named most top ministry officials Agreed needed to up production and increase refined products

(Musings On Iraq review Iraq and the Politics of Oil, An Insider’s Perspective)

 

Sep 22 Report US knew that Iraq’s oil industry needed to be rebuilt but didn’t know how much Mar

03 Dep Def Sec Wolfowitz told Congress Iraq could earn $50-$100 bil from oil 1^st 2-3 yrs after invasion Iraq would hardly make any money in 2003 and est $12 bil in 2004 Could earn $20 bil in 2005

 

Oct 25 Report Pipelines attacked Oil equipment old and outdated Looting power shortages attacks

slowed production Analysts said Iraq nowhere near returning to pre-invasion production of 2.8 mil/bar/day Interim Oil Min Ghabban told Geneva conference oil industry would be fixed by early spring 04 Said would open 4 new oil fields in 2004  Didn’t happen

 

Nov 21 UN turned over Oil for Food program to CPA

 

Nov 28 Report North pipeline to Turkey attacked almost every wk Shut down almost all oil exports to

Turkey Oil Min exported 1.14 mil/bar/day in Oct and earned $24 mil

 

2004

Apr 24 Insurgents launched boat attack upon Basra oil terminal killing 2 US sailors

 

Jun 22 UN audit Found State Organization for Marketing Oil had no records on tenders contracts

who won bids etc

 

2005

Jan 14 Shell signed deal to study Kirkuk oil field Did it for free to try to get into Iraq oil business

 

Jul 7 Report 2003 after invasion Iraq exported around $10 bil worth of oil Christian aid said $5 bil of

that was unaccounted for Audit of Jaafari govt said it might have misappropriated oil revenues Didn’t put oil revenues into right bank accounts

 

Jul 19 Iraq-Iran signed deal for Iraq to export 150,000 bar/day of oil to Iranian refinery

in Abadan and send refined products back to Iraq

 

Nov 29 KRG held ceremony for DNO to start drilling for oil at field in Zakho

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Nov 30 Aide to PM Jaafari wanted to know whether KRG singing oil deal with DNO

            constitutional

 

Dec 1 Report KRG signed deal with Norway’s DNO in 2004 to drill for oil Was 1^st post-invasion

contract KRG PM Barzani said Baghdad would never control Kurdistan’s resources

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Dec 7 Nov DNO said it would start drilling for oil in KRG Dec found oil Signed deal in 04 1 of 1^st

foreign companies to sign oil deal with KRG

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Dec 30 Oil Min Uloom put on leave after opposing govt plan to increase prices on gas and

            cooking oil Replaced by Dep PM Chalabi

 

Dec 31 Report Fuel crisis growing in Iraq Huge lines at Baghdad gas stations Baiji refinery shut down

after insurgent threats Pipeline to Dora refinery blown up by insurgents

 

2006

Jan 2 Iraq’s Dec 2005 export average of 1.1 million barrels a day of oil was lowest since

            2003 invasion

 

Jan 10 Dec 05 oil production avg 1.9 mil/bar/day Was down from Jan 03 when produced 2.3

mil/bar/day Analysts didn’t think industry would make any real increase for 2-3 yrs April 03-Jan 06 290 attacks on energy sector

 

Feb 8 Senate Foreign Relations Committee told oil below pre-war levels in Iraq

 

Feb 27 Amb Khalizad announced new draft oil law as a major accomplishment Was never passed

 

Apr 19 KRG parliament proposed creating Natural Resource Ministry to run region’s oil industry

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Apr 30 Audit found effort to protect oil infrastructure largely failed Questioned 2 foreign security

companies contracted to train guards

 

Jun 6 Report Oil industry under attack Pipelines and refineries hit Oil smuggling 1^st attacks believed to

be done by insurgents Now gangs involved Tankers often work with gangs 30% of imported gas thought to be stolen Businesses and individuals sell fuel they get at subsidized prices on black market for profit Iraq imported large amount of fuel then sold it domestically at subsidized prices Oil Min said smuggling cost $2.5-$4 bil in 2005

 

Aug 12 Report audit of Iraq’s finances by Ernest & Young found Iraq couldn’t accurately report

how much oil exported

 

Aug 28 Dep PM Salah said Iraqi parties agreed on oil revenue sharing with money being

distributed to provinces based upon population and needs Still no agreement over signing oil contracts or making major decisions Oil law never passed

 

Sep 28 Special Inspector General for Iraq Reconstruction report Iraq lost $16 bil in potential oil

sales Jan 04-Mar 06 due to insurgent attacks Even without those attacks Iraqi oil would be plagued by criminals oil smuggling and poor infrastructure

 

Nov 13 Report KRG said constitution gave it right to sign independent oil contracts and develop

fields Oil Min Sharhistani said all contracts had to be reviewed by Oil Min Nov 05 DNO began drilling in KRG Discovered oil Spring 06 May KRG created Natural Resource Min Jul KRG passed investment law Oct passed own oil law Signed 4 more contracts with oil companies

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Dec 15 Report Around 100,000 bar/day in oil smuggled in Iraq Political parties vying for control of oil

industry Putting followers into oil companies

 

2007

Jan 14 Report $1.5 bil smuggled out of Baiji refinery Insurgents were thought to be taking most of

that Dep PM Salah said oil industry facing crisis due to crime Said govt encouraged corruption

 

Jan 19 Iraqi cabinet committee finished draft of Hydrocarbon Law Was never passed

 

Feb 1 Experts said Oil Ministry had been purged and suffered from political infighting

 

Feb 26 Cabinet approved draft oil bill Unions Sunnis and Sadr all attacked bill Never passed

 

Feb 27 Draft oil bill passed by cabinet Never approved by parliament

 

May 1 Kurdish MPs said they opposed draft oil law because most oil reserves would be

under control of National Oil Company

 

May 12 Report US GAO found 100,000-300,000 bar of oil missing each day Worth est $5-

$15 mil Smugglers likely culprit

 

Jul 3 Cabinet passed new draft oil and gas bill Cabinet approved another oil and gas bill in February

Neither made it through parliament

 

Jul 30 US govt report 2006 Oil Min only spent 3% of its budget Oil production increased in 2007 but

below 2006 level GAO said 10-30% of oil revenue went to corruption

 

Aug 6 KRG passed its own oil law Condemned by Baghdad

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 7 Report Fadhila controlled Basra Oil Police oil infrastructure and export terminals

 

Aug 14 100 soldiers kidnapped Oil Ministry officials from govt compound in Baghdad

including Dep Oil Minister

 

Aug 30 Report Oil Ministry couldn’t keep track of oil production or stop gangs militias insurgents

from smuggling oil

 

Sep 13 Talks over Feb 07 oil bill collapsed Kurds wanted regional control which Oil

Ministry opposed Sunnis withdrew from talks after Kurds signed new oil deal 

 

Oct 4 Fmr Integrity Comm head Judge Radhi testified to House Comm Said $500 mil stolen from Oil

Min by insurgents and militias and used to fund violence Couldn’t investigate Oil Min because of threats of violence

 

Nov 6 Gulf Keystone signed kickback deal with KDP politburo member to get contract to

develop Shaikhan oil field in KRG

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Nov 24 Oil Min Shahristani said oil deals signed by KRG were illegal and companies

would be blacklisted Said made deals with neighboring countries not to export oil from KRG Aug 07 KRG passed its own oil law and signed 15 deals with 20 companies

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Nov 28 Report Oil Min said Peshmerga stopped it from working on Khurmala Dome oil field

in Kirkuk Source said KRG was given control of field Nov Natural Resource Min Hawrami said he signed service contract for field Hawrami said KRG was entitled to Khurmala Dome

 

2008

Jan 13 Sadrists Iraqiya, National Dialogue List signed agreement to maintain national control of

Iraq’s oil and oppose independent KRG oil contracts Nothing came of agreement

 

Jan 22 Oil Min blacklisted companies that signed oil deals with KRG

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 8 Oil Min Shahristani asked international oil companies to invest in Iraq for first time

(Musings On Iraq Oil Minister Under Attack On Eve Of Awarding New Contracts)

 

Mar 5 Cabinet approved Oil Ministry to sign technical support agreements with foreign oil

companies for first time

 

Mar 10 Speaker Mashadani said KRG had right to sign oil contracts Said courts would have final

say on matter

 

Mar 24 Oil Min asked foreign companies to submit plans to develop Iraq’s oil and natural gas fields

for first time since 03

 

Apr 9 Oil Minister Shahristani claimed Charge of Knights cleared militias and gangs out of Basra

waterway New oil police in Basra created to replace Fadhila controlled one

 

Apr 13 Maliki ordered crack down on gas stations and oil distribution centers

controlled by Sadrists

 

Apr 16 PM Maliki offered major concessions to Kurds Agreed to change oil law Legalize

independent KRG oil deals Pay for 190,000 Peshmerga Never happened

 

Apr 21 Oil Minister Shahristani objected to KRG’s independent oil deals

(Musings On Iraq Criticism of Iraq’s Oil Policy)
(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Apr 30 Govt spokesman said out of 77 trucks carrying oil to Sadr City 55 hijacked by Mahdi Army

 

May 13 Speaker of KRG parliament said KRG oil deals were legal and in accordance with

constitution

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 21 Report ISI turned to crime for financing Stealing money from oil industry in Ninewa

and Kirkuk main source of funds Stole oil from pipelines and fuel trucks gets protection money from gas stations and trucks Runs crime gangs Also steals cars and kidnaps for ransom

(Musings On Iraq Analyzing The Finances Of Al Qaeda In Iraq Interview With RAND’s Patrick Johnson)

 

May 25 PM Maliki attempted to assert control over Basra after Charge of Knights by firing Fadhila

officials who ran South Oil Company Basra Airport Oil Tankers Company Basra Refinery

 

Jun 6 KRG said it could export 150,000 bar/day in oil but no neighboring countries

            would allow it

Jun 6 Report US threatened to seize Iraq’s $50 bil in oil revenues held at NY Fed Reserve Bank if

Baghdad didn’t sign Status of Forces Agreement

 

Jun 7 5 years after invasion Oil Min Shahristani announced Iraq reached pre-war level of oil \      production

 

Jun 17 Report Start of June standoff between Peshmerga and oil workers Khurmala Dome oil field

KRG claimed field belonged to it Baghdad gave Peshmerga 24 hrs to leave and did

 

Jun 25 KRG signed oil deals with 2 Canadian firms to work in disputed areas of Kirkuk

 

Jun 28 Baghdad-Irbil formed committee to work out oil law Nothing came of it

 

Jun 30 Iraq offered 8 oil fields and 2 gas fields for foreign investment Wanted to sign deals in one

month Pre-approved 41 companies to bid on fields Before said would have no bid contracts Wouldn’t happen until 2009

 

Jul 1 KRG released report that its oil deals were far superior and Baghdad’s oil plan would be

disastrous for the country

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jul 8 Head of Kurdish bloc in parliament Othman said KRG oil deals were illegal 1st Kurdish

official to criticize deals Said Iraq needed oil law Never passed

 

Jul 30 Report PM Maliki replaced head of South Oil Company and fired heads of gas tanker and

refinery companies in Basra Replaced them with loyalists to control resources before 2009 election

 

Aug 17 Report Oil Min gave up plan for quick deals with oil companies after talks failed Wouldn’t

be until summer 09 when contracts made

(Musings On Iraq Criticism of Iraq’s Oil Policy)

Aug 20 Report Oil Min signed technical support contract with Chinese National Petroleum

Company for Ahdab field in Wasit Re-worked 1997 contract 1^st foreign oil deal since 03

(Musings On Iraq Was The Iraq War About Oil?)

 

Sep 3 Oil Min ended talks with major energy companies started in June Was hoping for quick 6 no

bid contracts but couldn’t come to any agreement

(Musings On Iraq Iraq Moves Ahead With 2^nd Part Of Its Oil Plan)

 

Sep 7 Iraq approved deal with Shell to capture natural gas in Basra from oil fields Deal was

            delayed for years

(Musings On Iraq Iraq Signs Natural Gas Deal As Half Of Oil Plan Is Dropped)

(Musings On Iraq Battle Over Control of Iraq’s Natural Resources Heats Up)

(Musings On Iraq Shell Natural Gas Deal Held Up By Iraqi Politics)

 

Sep 8 Iraq cabinet approved natural gas contract with Shell in Basra

(Musings On Iraq Iraq Signs Natural Gas Deal As Half Of Oil Plan Is Dropped)

 

Sep 22 Report Iraq signed 2^nd deal with foreign energy company since 2003 Shell agreed to explore

natural gas in Basra Gas would mostly be used for export Never happened

 

Sep 25 South Korea’s National Oil Corp signed deal to work on 8 sites in KRG

 

Sep 27 Oil Min Shahristani again said that KRG oil deals were illegal

(Musings On Iraq Criticism of Iraq’s Oil Policy)
(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 4 Dana Gas and Crescent Petroleum announced they would start producing natural gas in KRG

 

Oct 6 Iraq said it would hold two rounds of auctions for its major fields covering 115 bil/bar of oil

in 2009 Happened after attempt to sign quick oil contracts failed

 

Oct 14 US Army Corps of Engineers and South Oil Company found oil pipelines in Basra could fail

due to lack of maintenance Could cost $5 bil to fix US said Iraqis didn’t want to deal with issue

(Musings On Iraq Iraq’s Deteriorating Oil Infrastructure)

Oct 14 Report US spent $2.7 bil on oil facilities 2003-08 and production still below US goal of 3

mil/bar/day

Oct 14 Report US officials and oil analysts said danger of Iraq’s old infrastructure breaking down

Underwater pipelines used for exports in Basra falling apart Some thought would take years to fix because Iraq govt didn’t work Needed to completely rebuild Basra port to increase exports including widen channel dredge new pipes storage facilities Oil Ministry said it had plans to do all those tasks Many doubted it would ever happen Iraqi officials believed they could boost exports without major improvements because went through wars and sanctions with few changes Some thought Oil Ministry wanted oil contracts rather than improve infrastructure because signing deals easier

Oct 14 Report Oil Minister met with 35 foreign oil companies about contracts for 6 oil fields and 2

natural gas fields Wanted 20 yr service contracts Supposed to be done Jun 09 Contracts would be based upon companies paying fees Effort failed

(Musings On Iraq Iraq Moves Ahead With 2^nd Part Of Its Oil Plan)

 

Oct 27 Report 24 small oil companies got contracts to explore with KRG 07 2 companies found oil

Couldn’t export due to dispute with Baghdad reason why only small companies involved

 

Oct 30 Report Iraq didn’t have full metering of oil production Incomplete records of assets and

contracts Didn’t keep track of bartered oil deals worth $426 mil and State Oil Marketing Company bank account with $779 mil Said Iraq couldn’t account for its oil revenue adequately

(Musings On Iraq How Much Oil And Refined Petroleum Products Does Iraq Actually Produce? No One Knows)

 

Nov 11 Iraq and China finalized $3 bil deal to allow Chinese company to develop Ahdab oil field in

Wasit Re-did old Saddam era deal

 

Nov 20 PM Maliki accused Kurds of violating constitution Said KRG Signed illegal oil contracts

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Nov 24 After PM Maliki attacked KRG for independent oil deals Oil Min Shahristani met with KRG

PM Barzani Agreed to Kurdish exports from Taq Taq and Tawke fields and partial development of Khurmalla dome field to try to get oil law passed Neither happened

Nov 24 Report Genel Energy and DNO that operated Taq Taq and Tawke oil fields in KRG said they

would be able to export soon

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Nov 24 Oil Min Sharhistani went to KRG Worked out deal for region to export oil Also agreed to

allow KRG to develop part of Khurmala Dome field in Kirkuk

 

Nov 28 KRG Natural Resource Min Hawrami said KRG would start exports at 100,000 bar/day with

goal of 250,000 bar/day by end of 09 Oil Ministry said hadn’t agreed to that

 

Nov 30 5 committees created to try to work with KRG to pass oil law Baghdad said it would allow

KRG to exports its oil via Turkey if deal made Didn’t happen

 

Dec 2 Oil Min Shahristani demanded KRG void its oil contracts in return for deal to allow it to

export oil

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

(Musings On Iraq Baghdad-Kurdish Oil Export Deal Collapses)

(Musings On Iraq Baghdad-Kurdistan Rivalry Continues)

 

Dec 3 Baghdad-Irbil oil talks broke down KRG refused to cancel its oil contracts and demanded

share of oil revenues Oil Min Shahristani refused

(Musings On Iraq Baghdad-Kurdish Oil Export Deal Collapses)

 

Dec 22 Oil Min Shahristani said only central govt had authority to sign deals to develop Iraq’s oil

Was criticism of KRG

(Musings On Iraq Baghdad-Kurdistan Rivalry Continues)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Dec 23 Iraq signed $80 mil contracts to survey and improve Basra ports Wanted to increase oil

production to 6 mil/bar/day and oil exports to 5 mil/bar/day by 2018 By 2018 Iraq would only avg 3.4 mil/bar/day in exports

 

Dec 31 Prices for Iraqi oil went from $145 per barrel in July 08 to $38 per barrel setting off

economic crisis in Iraq

Dec 31 Auditors hired by Oil Ministry found only 33% of oil installations had meters Meant Iraq

had no idea about numbers of its most important industry

(Musings On Iraq How Much Oil And Refined Petroleum Products Does Iraq Actually Produce? No One Knows)

 

2009

Jan 3 Oil Min Shahristani said KRG exaggerating how much oil it was producing and claimed

most of it was smuggled

(Musings On Iraq Baghdad-Kurdistan Rivalry Continues)

Jan 3 Iraq opened up 2^nd round of auctions for 11 oil and gas fields

 

Jan 13 Spec Insp Gen Iraq Recon report Found projects over budget little oversight potential of

projects unfulfilled Jan 05 Iraq ordered KBR to stop project to improve loading arms at Basra Oil Terminal Didn't want project and didn’t maintain improvements KBR made at facility

(Musings On Iraq Iraqis Unwilling Or Incapable Of Maintaining U.S. Reconstruction Projects)

 

Jan 24 Report Integrity Comm found Basra oil workers stole up to 500K bar/day in oil in early

            08

 

Feb 11 Report Dir Gen of Iraqi Pipeline Co said 80% of pipelines had been degraded by insurgent

attacks and criminals

 

Mar 13 Pres Barzani said as long as Oil Min had a bad policy KRG could follow its own

 

May 8 KRG said they would start exporting oil from Taq Taq and Tawke fields after Oil Min

okayed connecting them to Turkish pipeline Oil Min said it wouldn’t pay oil companies however

(Musings On Iraq Breakthrough On Oil Deal Between Baghdad and Kurdistan? Not Quite)

(Musings On Iraq Companies Exporting Oil From Kurdistan Without Getting Paid)

(Musings On Iraq Kurdish Oil Exports To Start Again)

(Musings On Iraq Iraq’s Kurds Claim They Can Produce 1 Million Barrels Of Oil A Day)

(Musings On Iraq Kurdish Oil Exports Still On Hold)

(Musings On Iraq Oil Companies Exporting From Kurdistan May Not Be Paid For Years)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 15 Oil Ministry said it wouldn’t pay oil companies exporting oil from KRG

(Musings On Iraq Oil Companies Exporting From Kurdistan May Not Be Paid For Years)

 

May 17 Oil Minister criticized KRG oil deals Said KRG gave excessive profits to companies

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 21 DNO said it could start exporting oil from KRG Connected Tawke field to Turkish pipeline

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 22 China National Petroleum Company started work at Wasit oil field 1^st foreign company to

get deal since 03

 

Jun 1 KRG began exporting oil for 1^st time with OK of Baghdad

(Musings On Iraq Talk of Renewed Kurdish Oil Exports)

(Musings On Iraq Companies Exporting Oil From Kurdistan Without Getting Paid)

(Musings On Iraq Kurdish Oil Exports To Start Again)

(Musings On Iraq Kurdish Oil Exports Still On Hold)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jun 10 Oil Ministry said it would not pay oil companies working in KRG

(Musings On Iraq Oil Companies Exporting From Kurdistan May Not Be Paid For Years)

 

Jun 11 Report DNO not paid for oil exports from KRG yet Said if didn’t get paid would threaten

future investments Oil Min said it wouldn’t pay oil companies in KRG because said KRG contracts and exports illegal

(Musings On Iraq Oil Companies Exporting From Kurdistan May Not Be Paid For Years)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jun 19 Weatherford signed $224.4 mil deal with Maysan Oil Company to develop Bazargan field

Involved kickbacks over production

 

Jun 29 Iraq auctioned eight oil and gas fields to international energy companies Only Rumaila

received a winning bid Auction was considered a failure at first hurting standing of Oil Minister Shahristani who parliament was trying to remove

(Musings On Iraq 1^st Oil Bidding Round Flops In Iraq)

(Musings On Iraq Iraq’s Continued Attempts To Develop its Oil Industry)

(Musings On Iraq Was The Iraq War About Oil?)

 

Jul 1 Report After 1^st auction of Iraq’s oil and gas fields only got 1 winning bid Asian oil company

official said contracts offered were bad Said companies only interested because of amount of oil in Iraq

Jul 1 Report Energy Intelligence group said Iraq’s 1^st auction of oil and gas fields was a disaster Iraq

didn’t understand business realities when offered contracts

 

Jul 5 China National Petroleum Corp signed deal for Ahdab oil field in Wasit 1^st foreign oil

company to sign deal with Iraq since 2003

 

Jul 14 Iraq offered 15 bil cubic meters of natural gas a year by 2015 for Nabucco gas pipeline from

Turkey to Austria Never happened

 

Jul 15 PM Maliki said Iraq ready to export 15,000 cubic meters of natural gas to Europe Govt

spokesman Dabbagh said Iraq wasn’t ready to export gas anytime soon Never happened

 

Jul 17 Report DNO started independent oil exports for KRG in June with no payment plan set up

Addax Petroleum and Genel Energy also didn’t have pay deal

(Musings On Iraq Companies Exporting Oil From Kurdistan Without Getting Paid)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jul 18 KRG began producing oil at Khurmala Dome Kirkuk Went to new refinery in Irbil

 

Jul 29 Report Cabinet passed law setting up National Oil Company Couldn’t be created until other

oil laws passed Parliament didn’t pass law until 2018

 

Aug 2 PM Maliki went to Kurdistan Met Pres Barzani Ended war of words between two over

KRG’s oil policy

 

Aug 16 Report UN said Iraq oil didn’t need to be controlled anymore Legacy of UN sanctions 08

Audit of Iraqi accounting of oil industry found major problems Lack control of accounts receipts good accounting End of 08 only 1/3 of oil industry metered Finance Min lacked modern techniques and technology Monthly oil revenues were filled with errors North Oil Company burned 1.4 mil/bar of condensates that it couldn’t store Damaged oil fields by reinjecting oil into them Couldn’t account for 698,000 bar of oil Believed stolen Oil Min had 6 mil/bar less oil than South Oil Company said it produced State Oil Marketing Org kept $3 bil in oil revenue that was supposed to be put in bank Fined $24.4 mil for delinquent oil loading Hadn’t collected $9.1 mil form Jordan for oil sales Hadn’t collected $26.2 mil form Shell for shipping

(Musings On Iraq How Much Oil And Refined Petroleum Products Does Iraq Actually Produce? No One Knows)

 

Aug 26 Report Oil production and exports hit post-03 high in July Iraq exported 2.08 mil/bar/day

 

Sep 5 Report Iraq-Shell deal to exploit natural gas in Basra delayed until after 2010 elections Deal

signed in Sep 08

(Musings On Iraq Shell Natural Gas Deal Held Up By Iraqi Politics)

 

Sep 8 Report Executive from Talisman Energy said oil companies exporting oil from KRG wouldn’t

be paid until after 2010 elections Might take years to work out payments DNO Genel Energy Addax exporting oil without being paid

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Sep 9 Iraq-Russia signed deal to build 2 natural gas pipelines Never happened

 

Sep 18 Report Norway investigated insider trading involving KRG Natural Resource Min Hawrami

and DNO that had oil contract in KRG Oct 08 DNO sold 43 mil shares for $29.7 mil to Genel Energy with Hawrami acting as middleman

(Musings On Iraq Oil Scandal Hits Kurdistan)

 

Sep 21 KRG suspended work of DNO for 6 wks Claimed it hard KRG’s reputation Came after KRG

Natural Resource Min Hawrami implicated in insider trading deal involving DNO

(Musings On Iraq Oil Scandal Hits Kurdistan)

(Musings On Iraq Kurds Will Suspend All Oil Exports)

(Musings On Iraq Norwegian Company Has Final Word In Kurdish Oil Scandal)

 

Oct 1 Report Oil Min told China’s Sinopec would be excluded from next oil field auction Told

SKorea’s SK Energy couldn’t buy oil from Iraq anymore Was because both did work in KRG

(Musings On Iraq Iraq Ready To Blacklist Major Chinese Oil Company and Maybe South Korean One As Well)

 

Oct 6 DNO said KRG allowed it to restart work KRG suspended it after Natural Resource Min

Hawrami implicated in insider trading scandal involving DNO

(Musings On Iraq Norwegian Company Has Final Word In Kurdish Oil Scandal)

 

Oct 9 KRG Natural Resource Min Hawrami said it would stop exports for Baghdad in latest

breakdown in oil deals

(Musings On Iraq Kurds Will Suspend All Oil Exports)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 12 Consortium of Italy’s ENI US’s Occidental Petroleum Korea Gas Corporation agreed to work

on Zubayr oil field in Basra

(Musings On Iraq Iraq’s Continued Attempts To Develop its Oil Industry)

(Musings On Iraq Was The Iraq War About Oil?)

 

Oct 14 Report Oil Min Shahristani said oil companies had to hire Iraqis for 85% of jobs Said Iraq

didn’t have qualified personnel so corporations had to create schools to train them Oil industry suffered from corruption No oil law Lack of infrastructure Concerns over contracts UN audit found North Oil Company couldn’t account for 698,000 bar of oil which were probably stolen Oil Min inspector general found rampant oil theft Only 17 of Iraq’s 80 oil fields producing Oil Min said it needed $50 bil to reach 6 mil/bar/day in production by 2017

Oct 14 Report Iraq reduced taxes on oil companies Made them more likely to agree to Iraq’s oil deal

terms Before companies were to pay 35% tax on profits and money they received to cover their costs Now only taxed on fee for increased production BP and CNPC were only companies to win contracts in 1^st bids for oil fields

 

Oct 20 Report Japanese consortium of Nippon Oil Inpex JGC Corporation signed contract for

Nasiriya oil field 2^nd since 03

(Musings On Iraq Iraq’s Continued Attempts To Develop its Oil Industry)

(Musings On Iraq Was The Iraq War About Oil?)

 

Nov 2 Oil Min signed deal with Eni Occidental Petroleum and KOGAS for Zubayr oil field Eni said

it would invest $10 bil Oil Min Shahristani said he expected $35 bil Didn’t happen

(Musings On Iraq Iraq Moves Ahead With Oil Deals)

 

Nov 4 BP and CNPC singed 20 yr deal to develop Rumaila oil field in Basra

(Musings On Iraq Iraq Moves Ahead With Oil Deals)

 

Nov 5 Oil Min signed deal with Exxon and Shell to develop West Qurna 1 field in Basra Won

auction in Jun 09

(Musings On Iraq Iraq Moves Ahead With Oil Deals)

Nov 5 Report Major oil companies agreed to low compensation terms with Iraq because of huge

reserves in country Iraq would later have problems paying those terms and would be major reason why western companies would leave country

 

Nov 11 KRG Pres Barzani gave speech to European parliament Said Oil Min failed so KRG didn’t

have to follow it Said KRG would not share its oil revenues with Baghdad Claimed KRG could produce 100,000 bar/day of oil now and that could rise to 1 mil/bar/day by end of 2011 KRG never reached those levels

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Nov 17 CEO of Total said Iraq claims that it could reach 10-12 mil/bar/day in oil production after it

signed deals with intl companies “crazy” Said potential for 7-8 mil/bar/day Iraq never reached either estimate 

 

Dec 1 Report Oil companies accepted Oil Min terms after auctions for fields even though didn’t

offer much profit Hoped that they would get better terms later on Many Western majors would later leave Iraq over this issue

 

Dec 7 Ghabban adv to PM Maliki and fmr Oil Min said 6 mil/bar/day in oil production by 2015-16

was realistic Didn’t believe Iraq could reach 10-12 mil/bar/day by 2017 which was claimed in 09 after signed deal with major oil companies Iraq didn’t reach either mark

 

Dec 11 Oil Min started second auction for international energy companies to invest in oil fields 3

bids accepted

(Musings On Iraq First Day Of New Bidding Round On Iraqi Oil Fields)

(Musings On Iraq 2^nd Round of Bidding On Iraq’s Oil Fields Ends As A Success)

 

Dec 12 Iraq ended 2^nd auction for international energy companies to invest in oil fields 4 more

bids accepted for total of 7 Oil Min Shahristani claimed Iraq could reach 12 mil/bar/day in capacity in 6 yrs Would only reach a quarter of that mark

(Musings On Iraq Will New Oil Deals Provide Jobs For Iraqis?)

(Musings On Iraq 2^nd Round of Bidding On Iraq’s Oil Fields Ends As A Success)

(Musings On Iraq Analysts Say Impossible For Iraq To Reach Oil Production Goals)

 

Dec 18 Iranian soldiers occupied Well No 4 in Fauqi oil field in Maysan PM Maliki said nothing

Interior Min said was not important Foreign Min said Iran and Iraq would talk about border soon

(Musings On Iraq Disputed Oil Field Leads To Flare Up Between Iraq And Iran)

(Musings On Iraq More Questions Than Answers On Iran-Iraq Oil Field Dispute)

 

Dec 20 Iran said it withdrew its troops from Well No 4 in Fauqi oil field in Maysan it occupied 2

days later but Iraqis said they were still on Iraqi territory

(Musings On Iraq More Questions Than Answers On Iran-Iraq Oil Field Dispute)

(Musings On Iraq Disputed Oil Field Leads To Flare Up Between Iraq And Iran)

 

Dec 23 Protests in Karbala and Anbar against Iranian troops occupying Well No 4 in Fauqi oil

field in Maysan

(Musings On Iraq More Questions Than Answers On Iran-Iraq Oil Field Dispute)

Dec 23 Report 2008 Integrity Comm only made 97 convictions for corruption 135 cases were

stopped by senior officials with Oil Ministry stopping the most

 

2010

Jan 3 PM Maliki said Baghdad and Irbil should talk about oil contracts Maliki tried to win over

Kurds before 2010 election to get 2^nd term

(Musings On Iraq Talk Of Renewed Kurdish Oil Exports)

(Musings On Iraq Maliki Reaches Out To Kurds Before March 2010 Vote)

(Musings On Iraq Kurdish Oil Exports To Start Again)

 

Jan 13 Oil Min inspector general accused ISF of oil smuggling Found army units involved

Pipelines in Salahaddin and Ninewa being tapped into

 

Jan 18 KRG said it was willing to talk with Baghdad about oil Said it would publish deals it

signed with foreign companies in 2009 something Baghdad had demanded KRG wanted to restart its independent oil exports Kurds demanded that Baghdad pay the oil companies in KRG In return KRG would share profits from exports Maliki was trying to win over Kurds to get 2^nd term

(Musings On Iraq Talk Of Renewed Kurdish Oil Exports)

(Musings On Iraq Maliki Reaches Out To Kurds Before March 2010 Vote)

 

Jan 19 Report KRG said it would put profits from their oil exports into Baghdad bank In return KRG

wanted Baghdad to pay oil companies working in region

 

Feb 1 Report Oil companies in KRG held meeting Jan 2010 Biggest question was how would they be

paid Several companies invested billions and not got paid KRG made deal with Baghdad for it to export oil in return for Baghdad paying oil companies

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 3 Report Iraq imported 60% of its refined oil needs Head of parliament’s oil comm said Iraq saw

huge increase in demand while having old refineries lacked investment and insurgent attacks Said some refineries only at 50% capacity and govt didn’t’ invest in new tech Oil Min Shahristani said he wanted Iraq to become self-sufficient in oil products and eventually export them Didn’t happen

 

Feb 12 Oil Min Shahristani said Iraq would produce 12 mil/bar/day in 6 yrs Said would provide huge

amount of jobs Labor Min said building infrastructure for oil could provide 1.3 mil jobs Came after signed 11 contracts with foreign oil companies Wanted to build pipeline to Mediterranean Companies were supposed to hire 85% Iraqis and train them None of this happened

 

Feb 15 Report Oil Min said it would pay operating costs to oil companies in KRG but not profits Still

questioned legality of KRG energy deals Committee created of Baghdad and KRG officials to go over expenses of oil companies in KRG

 

Feb 28 Maliki claimed new contracts with major oil companies would boost revenue and pay for

Iraq’s reconstruction and debts

(Musings On Iraq Analysts Say Impossible For Iraq To Reach Oil Production Goals)

 

Mar 2 Report Oil analyst said Iraq faced challenges reaching its 12 mil/bar/day production goal Said

were bottlenecks everywhere which would be hard to overcome

 

Mar 4 Report World Bank est Iraq needed $1 bil in investment to maintain its current oil

production of around 2.4 mil/bar/day because ports pipelines etc are old and decrepit Said to upgrade to 5 mil/bar/day would cost around $30 bil over 8 yrs

(Musings On Iraq Analysts Say Impossible For Iraq To Reach Oil Production Goals)

 

Mar 22 Preliminary deal between Baghdad Shell and Mitsubishi to collect and exploit natural gas

from Basra oil fields expired 1^st of many problems with deal Iraq didn’t have money to pay companies or infrastructure to deliver gas to power plants

(Musings On Iraq Shell Natural Gas Deal In Basra Delayed Again)

(Musings On Iraq Shell-Mitsubishi Natural Gas Deal May Be Delayed Indefinitely)

 

Mar 29 Panel of experts and oil executives said impossible for Iraq to reach 10-12 mil/bar/day in

production in 10 years as Oil Ministry claimed Iraq didn’t reach that mark

(Musings On Iraq More Analysts Say That Iraq’s Oil Goals Are Too Ambitious)

 

Apr 12 KRG said it had reached agreement with Oil Ministry over oil exports Baghdad

            would split revenues with it Maliki was trying to win over Kurds to get a 2^nd term

(Musings On Iraq Maliki Reaches Out To Kurds Before March 2010 Vote)

(Musings On Iraq Kurdish Oil Exports To Start Again)

 

May 2 Iran Iraq announced deal to develop 5 oil fields that straddled two countries

 

May 6 Oil Min said dispute between Baghdad and Irbil over oil resolved Was not Move by Maliki

during govt formation process to win over Kurds

(Musings On Iraq Kurdish Oil Exports To Start Again)

(Musings On Iraq Kurdish Oil Exports Placed On Hold Until New Iraqi Government Seated)

(Musings On Iraq Kurdish Oil Exports Still On Hold)

 

May 11 Dep Oil Minister said no final agreement between Baghdad and KRG over Kurdish oil

exports because Finance Min didn’t approve payments to oil companies in KRG

(Musings On Iraq Kurdish Oil Exports Placed On Hold Until New Iraqi Government Seated)

 

May 16 China’s CNOOC and Turkey’s TPAO signed deal to develop Maysan oil field

(Musings On Iraq 12^th Oil Deal Signed By Iraq)

 

May 17 KRG said it would not export oil again until after new Iraqi govt formed

(Musings On Iraq Kurdish Oil Exports Placed On Hold Until New Iraqi Government Seated)

 

May 18 Cabinet approved deal to allow KRG to export oil again

(Musings On Iraq Kurdish Oil Exports Placed On Hold Until New Iraqi Government Seated)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 20 KRG said it would start oil exports the next day and Baghdad okayed it Demanded

            Baghdad pay oil companies in KRG

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 27 report 2008 oil was 56% of GDP Employed 1% of workers

 

Jun 1 Report Economists discussed high unemployment Oil 70% of GDP only 2% of workforce

 

Jun 7 Oil Min said oil production would reach 12 mil/bar/day by 2017 Didn’t happen

 

Jun 10 Finance Min Jabr said he got letter from cabinet to pay oil companies operating in KRG Part

of move by PM Maliki to win over Kurds so he could get 2^nd term

 

Jun 19 Report Dir North Oil Company said pipes old and in disrepair Said 500km of Iraq-Turkey

pipeline needed to be fixed urgently Oil Ministry said 1 bil cubic ft of natural gas burned off during oil production because of lack of means to capture and use it Iraq loses $50 every second as a result

 

Jun 21 Report Oil refineries not big money makers Sometimes lost money Made it hard to get

private investors Iraq had refinery capacity of 800,000 bar/day but only used 50-60% of that Meant Iraq had to import many refined products 2007 law opened refineries to investment but got little

Jun 21 Report Talked with experts about Iraq’s economy 1 said econ wouldn’t grow because too

dependent upon public money that came from oil Fmr Oil Min Uloom said if oil prices rose could invest in agriculture and industry but probably wouldn’t spend enough 1 didn’t believe oil money could pay for development

 

Jun 29 Report Foreign official said Um Qasr port worst in Mideast Ships lined up and waited No

machinery No service No system at work at port Oil companies struggled to get equipment to Iraq due to port Foreign companies complained about lack of capacity bad roads lack of infrastructure Govt had $6 bil plan for new port at Faw Never finished

(Musings On Iraq How Basra’s Port Holds Up Iraq’s Development)

Jun 29 Iraq approved $17 bil deal with Shell and Mitsubishi to exploit natural gas in Basra

(Musings On Iraq Shell-Mitsubishi Natural Gas Deal Inches Ahead)

 

Jul 8 Report 1000s of oil tankers went from KRG to Iran each day Smuggling started in 90s Profits

went to PUK KDP oil companies and politicians and officials in Baghdad Kurds also sent oil to unlicensed refineries in KRG Ninewa Kirkuk KRG denied smuggling for years Talked with media to pressure Baghdad to let it export oil

(Musings On Iraq Kurdistan Admits To Smuggling Oil To Iran)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jul 11 Al Arabiya TV filmed dozens of fuel tanker trucks driving from KRG into Turkey KRG

denied this was happening

(Musings On Iraq Kurds Try To Deny Their Oil Smuggling With Iran)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Jul 11 Report After NY Times wrote about KRG smuggling oil to Iran KRG said it would crackdown

on practice Didn’t do anything

(Musings On Iraq Kurdistan Admits To Smuggling Oil To Iran)

 

Jul 12 UN report Iraq didn’t meter most of its oil production and exports Installing meters had been

delayed Was supposed to be completed by end of 2011

(Musings On Iraq How Much Oil And Refined Petroleum Products Does Iraq Actually Produce? No One Knows)

 

Jul 13 Report Oil Min Shahristani wanted talks with KRG over smuggling oil to Iran but KRG

didn’t want to KRG official said Baghdad had no power over issue KRG Natural Resource Min Hawrami blamed Iraqi refineries for KRG smuggling along with fuel subsidies KRG smuggling oil to Iran since 90s

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jul 18 Oil Min held 2 day conference with 16 oil companies that won contracts to operate Iraqi oil

fields Companies complained about lack of infrastructure security red tape Companies could not get personnel into Iraq because of visa delays Couldn’t set up offices because licenses and permits took so long Um Qasr port didn’t have capacity to handle traffic companies needed to bring in equipment Weren’t sure Baghdad would address any of those issues

(Musings On Iraq Oil Companies Voice Their Concerns About Doing Business In Iraq)

 

Jul 20 KRG said it respected Iraqi constitution and would end all illegal oil exports Also said KRG

would cooperate with Baghdad over oil exports Came after NY Times article and Al Arabiya report on KRG smuggling oil to Iran which had been going on since 90s KRG always denied it happened

(Musings On Iraq Kurds Continue With Their Oil Smuggling To Iran)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jul 22 Reuters went to KRG-Iran border crossing and saw oil tankers driving into Iran with refined

oil products after KRG said it would stop Worked for company that had contract with KRG Natural Resource Min KRG said trade legal because wasn’t shipping oil

(Musings On Iraq Kurds Continue With Their Oil Smuggling To Iran)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jul 23 KRG spokesman refuted Reuters story that KRG smuggling oil to Iran Claimed KRG had

committee that stopped all smuggling KRG was still smuggling and had done so since 90s

(Musings On Iraq Kurds Continue With Their Oil Smuggling To Iran)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 2 Iraq signed memo of understanding to import natural gas from Iran for 7 yrs to fuel power

plants

Aug 2 Report Iraq talked about exporting natural gas but had no infrastructure to do so Needed

pipelines reservoirs gathering stations

Aug 2 Report Iraq had to invest in infrastructure and transportation before it could exploit natural

gas Executive said Iraq offered confusing terms in bidding for 3 gas fields Currently produced 1.65 bil/cubic/ft of gas/day

 

Aug 13 NPR went to KRG-Iran border Still found oil tanker trucks lining up to cross into Iran KRG

said it ended oil smuggling

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 19 Natural Resource Min Hawrami said KRG would be producing 1 mil/bar/day in oil by

2014 Said KRG would join Nabucco natural gas pipeline and export gas to Europe Neither happened Said no oil had been smuggled to Iran KRG had been smuggling oil to Iran since 1990s

(Musings On Iraq Iraq’s Kurds Claim They Can Produce 1 Million Barrels Of Oil A Day)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Aug 19 Report 2007 est $1-$2 bil/yr stolen from Baiji Refinery Up to 70% of output stolen 2010

down to around 5% Director of refinery got death threats Had to move to Jordan and run plant by phone Corrupt officials tried to get director arrested Director said political parties interfered with refinery

 

Aug 21 KRG made series of demands of Maliki govt Wanted revenue sharing law Oil law Wanted

KRG laws to trump federal laws in disagreements over KRG oil contracts In return Kurds said they would support 2^nd term for PM Maliki

 

Aug 27 KRG signed deal with German firm to export natural gas via Nabucco gas line to Europe

KRG had no infrastructure to export Never happened

(Musings On Iraq Kurds Anger Baghdad Over Proposed Natural Gas Pipeline)

(Musings On Iraq Oil Ministry Threatens Kurdistan Over Natural Gas Deal)

 

Aug 29 Reports KRG signed contract with German company to provide natural gas to Nabucco

pipeline to Europe KRG didn’t have infrastructure and didn’t happen Baghdad condemned contract Said gas exports illegal

(Musings On Iraq Kurds Anger Baghdad Over Proposed Natural Gas Pipeline)

(Musings On Iraq Oil Ministry Threatens Kurdistan Over Natural Gas Deal)

(Musings On Iraq Baghdad Bans Kurdish Natural Gas Exports To Turkey)

 

Sep 2 Oil Min threatened to cut 50% of fuel deliveries to KRG in retaliation for it signing natural

gas deal with German company

(Musings On Iraq Oil Ministry Threatens Kurdistan Over Natural Gas Deal)

 

Sep 18 Iraq signed deal with Syria to build 2 pipelines through Syria to Mediterranean Never

happened

 

Sep 20 Iraq and Turkey signed deal to stop KRG from exporting natural gas to Europe Aug KRG

signed contract with German company to build pipeline to Europe’s Nabucco pipeline Never happened

(Musings On Iraq Baghdad Bans Kurdish Natural Gas Exports To Turkey)

 

Sep 26 Report Oil Ministry asked oil companies if they wanted to help pay for upgrading

infrastructure Iraq needed several billion $ Wanted to build pipelines to Syria Turkey and in Basra

 

Sep 27 report Oil Min delayed Shell-Mitsubishi deal to develop natural gas in Basra Deal signed

Jun Ministry revised deal causing delay Forming new govt after 2010 election would mean another delay

Sep 27 Wasit govt ordered raid on Al-Ahdab oil field Charged officials with corruption

 

Sep 30 Report Nabucco group said Iraq would be a main supplier of natural gas exports to Europe

Said more reliable than Turkmenistan or Azerbaijan KRG also signed deal to export natural gas with German company Neither happened

 

Oct 1 KRG Natural Resource Min said KRG had enough natural gas for domestic use and export to

Europe via Nabucco pipeline Baghdad said it would provide natural gas for Nabucco Neither happened

 

Oct 2 KRG Natural Resource Min Hawrami said Kurds were ready to send 60 bil cubic

            meters of natural gas to Turkey Didn’t happen

 

Oct 5 Dana Gas and Crescent Petroleum said producing 200 mil cubic ft/day of natural gas and

delivering 180 mil cubic ft/day to 2 power plants

 

Oct 13 Report Security political instability poor infrastructure limited Iraq’s ability to increase oil

production Oil executives said production would increase but not to 12 mil/bar/day by 2017 that Oil Min set One consultant said that Iraq’s planned investment in drilling exceeded capabilities Executives said Iraq lacked money and political leadership to manage a large production increase

 

Oct 18 Report South pipeline built 1975 Was supposed to only last 20 yrs without major upgrades

Inspected 1991 Found 76% of pipe corroded Iraq reduced capacity by 75% to keep using it Couldn’t be shut down because 75% of exports used it 2 assessments in 07 Said new export pipes needed to be added Found underwater section of pipe leaked and sea water collected in it increasing corrosion

 

Oct 19 Report Iraq natural gas auctions not garnered a lot of interest Put up 3 fields for bids Hardly

any gas infrastructure No pipelines to export Govt had no plans for how to use gas

 

Oct 21 US Marathon Oil signed deal for four oil blocks with KRG

 

Oct 22 Report Anbar govt rejected auction of Akkas gas field Said Oil Min needed to listen to

Anbar’s demands Said it would not allow company to work there until demands met Anbar wanted natural gas used locally first Oil Min rejected Anbar’s interference

 

Oct 28 Reuters survey of oil experts predicted Iraq would reach 2.5 mil/bar/day in production by

2011 Predicted 4.6 mil/bar/day by 2015 Security and lack of infrastructure hindered production Oil Min Shahristani predicted 4 mil/bar/day by 2013 Oil Min said it would reach 12 mil/bar/day by 2017 after signed oil contracts in 09

 

Nov 4 Intl Energy Agency said would take 20 yrs to reach Iraq’s goal of 12 mil/bar/day not 7 yrs

as it claimed Said Iraq needed $160 bil in investment to reach 12 mil/bar/day Could reach 6.5 mil/bar/day by 2030s if infrastructure improved Said Iraq needed roads bridges airports water supply not just oil infrastructure Said scale of project and political uncertainties meant increasing capacity would be slow Oil Min had $50 bil modernization and expansion plan for infrastructure

 

Nov 10 London energy consultancy said would be 10 yrs before Iraq delivered natural gas to

Europe via Nabucco pipeline plan Executing from trading company said KRG would sign deal within a year to export natural gas Neither happened

 

Nov 29 Report Iraq wanted to re-open oil pipeline to Saudi Arabia Was closed in 1990 after

invasion of Kuwait Didn’t happen

Nov 29 Adv to PM Maliki said Iraq could reach capacity of 8 mil/bar/day in oil by 2017 Was

revision down from original claim of 12 mil/bar/day by 2017 Analysts didn’t think either was realistic Iraq lacked infrastructure and security Analysts believed Iraq could reach 2.8 mil/bar/day by 2011 and 4.6 mil/bar/day by 2015 Govt spokesman Dabbagh said production would increase with KRG output even though Baghdad said its oil deals were illegal

 

Dec 15 Report In return for supporting 2^nd term for PM Maliki Kurds wanted oil concessions

Revenue sharing law in budget Oil law in 2011 Demanded KRG laws trump federal laws over energy

Dec 15 Report 2011 budget included KRG exporting 150,000 bar/day of oil in return for 17% of

budget and audit of KRG revenues which KRG agreed to but never allowed to happen

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Dec 20 Report KRG said it was ready to follow budget agreement to export oil for Baghdad but had

to work out differences 1^st Wanted to ensure monthly payments and Baghdad to recognize KRG oil contracts

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Dec 25 Report Oil Min Luaibi said Baghdad would recognize KRG oil deals and pay companies

operating there but KRG exports and revenues had to go to Baghdad

 

2011

Jan 5 Report KRG claimed it had 45 bil in oil reserves US said only 2 bil were proven

 

Jan 13 Report Iraq’s oil pipelines old and needed repair and expansion Capacity was low Needed to

build storage terminals Ports had to be upgraded Iraq dealing with yrs of neglect of infrastructure Energy analyst said foreign companies had hard time finding skilled workers equipment material in Iraq Iraq didn’t have enough money to fix problems 2010 Oil Min came up with master plan Said it wanted to produce 12 mil/bar/day of oil by 2017 Would add 4 mil/bar/day export capacity by 2013 Would expand export capacity to Turkey to 1.6 mil/bar/day Wanted to build 3^rd pipeline to Syria and Mediterranean 2010 Iraq signed deals with companies to build new pipelines and 4 floating terminals in Basra Iraq short on water to maintain pressure in oil wells Led to declining production Exxon and others worked on water project Floating terminals and pipeline contracts were given due to corruption Water project never done

 

Jan 18 PM Maliki and KRG PM Salah said they reached agreements on renewed Kurdish oil exports

and 2011 budget Oil Min would pay oil companies in KRG for their costs Issue of oil profits not resolved

(Musings On Iraq Has Baghdad And Kurdistan Finally Come To An Agreement Over Oil Exports And The 2011 Budget?)

(Musings On Iraq Baghdad And Kurdistan No Closer To Resolving Oil Dispute)

(Musings On Iraq Iraq’s Central And Regional Governments Reach Third Oil Deal, But Will It Last?)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jan 22 Report Several KRG editors and journalists had travel bans placed on them after they wrote

about Natural Resource Min lacking transparency over contracts and revenues

 

Jan 29 Report Many questioned whether Iraq could reach 12 mil/bar/day in oil production goal it

set itself Some thought it was a political announcement that Iraq would be bigger play in OPEC Org for Econ Cooperation and Development didn’t believe Iraq could reach 12 mil/bar Said could take 20 yrs just to reach 6 mil/bar Iraq needed $150 bil in investment in oil industry Also political uncertainty 

 

Feb 4 Report KRG still smuggling oil to Iran 2 border crossings had tankers lined up to enter Iran

KRG denied story KRG said all oil sales to Iran were legal Undermined US sanctions on Tehran

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 5 Report End of 2010 4 largest oil fields in Iraq which were auctioned in 09 reached initial

production targets Oil Min said it could reach 8 mil/bar/day in production by 2017 Down from 12 mil/bar/day Several studies said not possible Consensus was Iraq would reach 2.6-2.8 mil/bar/day in production by start of 2012 Intl Energy Agency said Iraq could reach 7 mil/bar/day by 2035 Said reaching Oil Min’s goals would need $150 mil in investment in 5 yrs Iraq needed new pipelines several thousand wells drilling rigs water pumping and injection system mud cement chemicals power stations industrial zones workshops warehouses work camps residential areas roads for oil industry

Feb 5 Report PM Maliki said he would respect KRG’s oil deals Oct 09 KRG stopped exporting oil

for Baghdad in dispute over paying oil companies in KRG Before Baghdad said KRG deals illegal Attempt by Maliki to win KRG support for his new govt

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 14 Report Legal barriers held up finalizing $12 bil natural gas deal with Shell and Mitsubishi

Oil laws said only govt could export gas Shell wanted to export gas Deal approved Jun 2010

 

Feb 26 Insurgents attacked Baiji refinery largest in Iraq Stormed complex and bombed pipeline to

facility Shut down parts of refinery

 

Mar 2 Report Oil Min in talks with Shell for 3 yrs over natural gas deal worth $12 bil Most gas flared

because no infrastructure to capture and use it Around 700 mil cubic ft/day of gas could be captured if developed Iraq had to decide who would build gas facilities at each field in Basra Would oil companies developing fields do it or other companies? Deal finished in Nov

 

Mar 4 KRG Natural Resource Min said KRG oil exports reached 100,000 bar/day in Mar Wanted to

reach 1 mil/bar/day by 2015 Didn’t happen

 

Mar 6 Report Iraq lacked basics for economic growth Suffered from oil dependency Wasn’t

competitive outside oil and gas Ruling parties controlled resources Oil/gas dependency limited investment in rest of economy Led to little incentive to develop other parts of econ Iraq should use oil revenue to increase infrastructure schools hospitals housing 40% of Iraq under 14 yrs old High unemployment and limited amount of women working Meant big production increase unlikely

 

Mar 22 Oil Min Luaibi said Iraq would reach 6.5 mill/bar/day oil production by 2014 Didn’t

happen

 

Mar 28 IMF doubted Iraq could reach 12 mil/bar/day of oil production by 2017 Said infrastructure

limited production Said Iraq needed huge investment in ports pipelines desalination plants storage facilities

 

Apr 7 Report Oil companies running into problems working in Iraq with political disputes red tape

logistical problems lack of infrastructure

 

Apr 11 KRG PM Salah said Baghdad should pay oil companies operating in KRG Said KRG had

filed bills Oil Min refused to recognized KRG contracts KRG wanted independent contracts but Baghdad to pay its bills

(Musings On Iraq Baghdad And Kurdistan No Closer To Resolving Oil Dispute)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Apr 24 Report Oil companies boosted production but Iraq didn’t have capacity to export more Led

some companies to cut back on output Iraq had contracts to build 16 new storage facilities 3 new pipelines 4 new floating terminals in Basra New pipeline and terminals contracts given after bribes

 

Apr 25 4^th round of oil and gas field auctions held

 

May 8 Report Dep PM Shahristani said Iraq had no plans on cutting its oil production goal of 12

mil/bar/day In Apr Shahristani said prediction should be revised to 8.5 mil/bar/day Iraq didn’t meet either goal

 

May 17 Report BP and CNPC owed over $1 bil for oil production and finally getting partial payment

 

May 22 Report South Gas Company wanted to move ahead with natural gas plan in Basra whether

Shell joined project or not Basra oil fields produce 1.1 bil cubic ft of natural gas/day Most burned off Iraq needed gas to fuel power plants

 

May 23 Gulf Keystone said it was ready to export oil from KRG

May 23 Report Iraq signed deal to import natural gas from Iran to fuel power plants in Diyala

 

May 24 Dep PM Sharistani complained KRG oil deals not transparent Didn’t have competitive

bidding Didn’t submit oil company bills to Baghdad to be compensated Said KRG acting autonomously and not thinking about Iraq as a whole

May 24 Report Major bottlenecks to increase oil output Needed high volumes of water to increase

pressure in oil fields Lack of facilities at major ports Old infrastructure Many companies hit a production mark but couldn’t increase it because infrastructure couldn’t handle more

 

Jun 1 Oil Min signed deal with South Korea’s KOGAS to develop Akkas gas field in

            Anbar Would withdraw due to lack of security

 

Jun 4 Dep PM Shahristani said Iraq would reach 3 mil/bar/day in oil production by

            end of 2011 It didn’t

 

Jun 5 Rockets fired at Zubayr oil field in Basra Set oil reserves on fire

Jun 5 Iraq signed deals for two natural gas fields in Mansuriya in Diyala and Siba in Basra

 

Jun 7 Report Oil Min Luaibi asked consultants to lower production goals and extend timeline

Before Oil Min said Iraq would reach 12 mil/bar/day in production by 2017 Luaibi now said Iraq could reach 8 mil/bar/day by 2024-25

 

Jun 9 Report BP CEO said Iraq’s oil production would likely be half of what it was claiming Said

lack of infrastructure would hinder development Said Iraq would likely reach 5-6 mil/bar/day in production It didn’t

 

Jun 23 Report Scientists believed southern pipeline completely disintegrated and only concrete

tube Oil Min didn’t test pipeline out of fear it would burst Signed contract with Australian company to build new pipeline by end of 2012 Almost all oil deals with intl energy companies had to be renegotiated because production goals weren’t possible due to poor infrastructure Oil Min Luaibi changed prediction from 7-8 mil/bar/day in production by 2017 to 2025 

Jun 23 Report Baghdad threatened to cut KRG’s budget over control of Khurmala Dome oil field in

Kirkuk KRG claims control of field 2008 KRG drove Oil Min workers away from field KRG Natural Resource Min Hawrami claimed field not in disputed area but KRG

Jun 23 Report Eni and Saipem oil companies investigated in Rome for allegedly giving bribes to

win oil contracts in Iraq

 

Jul 24 Report Iran Syria Iraq signed agreement to build natural gas pipeline between 3 countries Meant

to supply Iranian gas to Syria Never happened

 

Aug 17 Iraqi parliament oil committee submitted draft of new oil law Never passed

 

Aug 25 Report US Hunt Oil signed deal with KRG in disputed area in Ninewa in 07 Was largest oil

company to sign deal with KRG at that time KRG thought important because was US company Bush admin told company deal questionable and could increase tension between Irbil and Baghdad Hunt manager said oil more important than legal troubles Hunt website called KRG independent country Kurds used Hunt oil in talks with Maliki govt to get approval for oil exports

 

Aug 28 Iraq’s cabinet submitted draft of new oil law Never passed

 

Oct 11 Dep PM Shahristani said Iraq banned companies working in KRG from working in rest of

Iraq Said KRG oil deals were illegal

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 12 South Oil Company said it wanted to build 5^th floating mooring point in Basra Would be

done by early 2014 Would allow exports to rise to 5-6 mil/bar/day by 2014 Didn’t reach that mark

 

Oct 13 Oil Min and KOGAS signed deal for Akkas natural gas field in Anbar Was auctioned in

Oct 2010 Anbar govt complained about deal KOGAS’ partner KazMunai eventually dropped out

(Musings On Iraq Iraq Finally Inks Natural Gas Deal With South Korean Company)

 

Oct 18 Exxon signed oil and gas deal with KRG marking 1^st major energy company to enter region

(Musings On Iraq New Twists In Exxon-Kurd Oil Deal)

(Musings On Iraq How the New Chevron Deal Affects Oil Dispute Between Iraq’s Central Government And Kurdistan)

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 19 Report Iraq made deal with oil companies to build water injection plant in Basra to boost oil

production Exxon mobile would lead project Cost around $3 bil Water project never done

 

Oct 22 Report Oil Min Luaibi said oil exports at 2.2 mil/bar/day despite increase in production

because of lack of capacity in export infrastructure 100,000 bar/day put in storage because couldn’t be exported Iraq was building 4 new terminals in Basra to expand exports Oil adv to PM Maliki said production would reach 3 mil/bar/day by end of Oct 2011

 

Nov 13 Dep PM Shahristani criticized Exxon for signing oil deal with KRG Said Baghdad warned it

against contract Said all KRG oil deals were illegal

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Nov 15 Iraq approved $17 bil deal with Shell and Mitsubishi to develop natural gas in Basra Took 3

yrs to complete Iraq burned around $5 bil/yr in natural gas

 

Nov 16 Report Shell stopped talks with KRG over oil deals because wanted to keep its contracts in

Basra

 

Nov 22 State run South Gas Company said it didn’t have money to invest in Shell-Mitsubishi

natural gas deal in Basra as originally planned

 

Nov 24 Oil Min signed Basra natural gas deal with Shell and Mitsubishi Started talks in 2008

 

Nov 27 Report Iraq wanted to export 2.6 mil/bar/day in 2012 Production supposed to hit 3

mil/bar/day Shell said impossible because of poor infrastructure Oil Min still said it could reach 12 mil/bar/day in production Didn’t happen

 

Dec 5 Report Oil Min looking into lowering production targets and extending deadlines in contracts

with oil companies Plan was to reach 12 mil/bar/day in oil capacity by 2017 Oil Min Luaibi said 8-8.5 mil/bar/day might be more realistic Iraq didn’t meet either target

 

Dec 17 Dep PM Shahristani accused KRG of smuggling 75,000 bar/day of oil KRG said it was

exporting 175,000 bar/day for Baghdad but was only exporting 100,000 bar/day

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Dec 22 Report Iraq owed Exxon $50 mil for 2 yrs of work at West Qurna 1 oil field 09 Exxon won

contract for field Was to be paid $1.90 per barrel after reaching production target Would barely cover costs Exxon and other oil companies agreed to terms because wanted to get into Iraq’s market which had been sanctioned since 1990 Shell said bureaucracy was holding up payments to oil companies Shell said was holding off work at Majnoon field until it was paid

 

2012

Jan 27 Basra Gas Company that was in joint venture with Shell and Mitsubishi said planned to

produce 1.4 mil cubic meters of natural gas/day in 2012 Didn’t happen

 

Jan 31 Report 09 Oil Min began singing contracts with foreign oil companies Iraq needed their tech

and expertise Production increased as a result Signed 11 foreign contracts Promised 13 mil/bar/day in oil production in 7 yrs Would make Iraq largest oil producer in world Didn’t happen Political disputes undermine goals During sanctions oil infrastructure deteriorated relied upon improvised solutions Still did Red tape major problems 2011 western companies couldn’t get visas for months Visas had to be approved by PM Maiki’s office and couldn’t handle traffic Maliki’s style was to centralize power which meant delays increased Oil Min slow to work out and ok plans and sign contracts Customs held up equipment at ports Law said parliament needed to approve oil contracts but only went through Oil Min Made it harder to pass oil law because would have to recognize existing contracts and terms Energy decisions made by individuals and increased rivalries KRG followed independent policy Opposed by Baghdad 07 KRG signed 1^st deal with foreign company Oct 2011 Exxon signed deal with KRG Upset Baghdad which wanted to centralize power over oil KRG Natural Resource Min said wanted to increase exports to 1 mil/bar/day in 5 yrs Couldn’t do that without deal with Baghdad

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 2 Report Statoil wanted to sell stake in West Qurna 2 field to Lukoil Thought Iraq too risky

Statoil and Lukoil won auction for West Qurna 2

 

Feb 9 Head of Oil Min’s contracts div said Exxon should stop work in KRG it still wanted to work

at West Qurna 1 field in Basra

Feb 9 Report Exxon signed 6 oil and gas deals with KRG 3 of those were in disputed areas Exxon

raised production at West Qurna 1 field in Basra Oil companies have been frustrated with conditions in Iraq including bottlenecks poor coordination delayed payments red tape Water injection plant in Basra to maintain pressure in oil wells planned since 2010 South Oil Company was going to take over project from Exxon Exxon said it wanted to be paid in cash for project Iraq has been paying with oil

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 10 Report Security analyst said Iran smuggled 10% of Basra’s oil production

Feb 10 Report Total interested in working in KRG Said KRG contracts better than Baghdad’s Tough

terms demanded by Baghdad turned off some companies 2009 Total won contract for Halfaya oil field in Maysan Only got $1-$2 per bar produced Total said too low Total said it would struggle to recover its costs

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 12 Report Russia forgave $12.9 bil in debt In return Russia got assurances its claims to Iraqi oil

fields would be maintained Agreed to invest $4 bil into oil

Feb 12 Oil Min opened 1^st of 4 mooring points in Basra Had capacity of 850,000 bar/day Hoped to

boost south oil exports to 2.1 mil/bar/day by June 2012

 

Feb 13 Report Australian police said that subsidiary of Leighton Intl might have paid $1.2 bil in

bribes to get contract

 

Feb 14 Report Maliki govt said Exxon excluded from 4^th bidding round because signed deals with

KRG

 

Feb 15 Report Oil industry suffered from old infrastructure red tape lack of security Draft oil law

made in 2006 and never passed Infrastructure dated from 1980s Created bottlenecks in exports Iraq lacked pipelines storage facilities investment Iraq offered Tech Service Agreements but proved problematic Required company to pay large amounts up front and then receive money once reached certain production levels Would work better in country with adequate infrastructure to allow production increases unlike Iraq Statoil wanted to end work at West Qurna field because of contract problems

 

Feb 17 Report $20 mil/day worth of oil smuggled into Iran from KRG

(Musings On Iraq Kurdish Smuggling To Iran)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 21 Iraq and consortium led by Russia’s Gazprom gave $329.7 mil deal to UK’s Petrofac to

develop Badra field Later revealed Petrofac paid bribes to get contracts

 

Mar 6 Dep head of South Oil Company fled Iraq after accused of taking bribes from Leighton to get

contracts Feb Leighton told Australian authorities about possible corrupt practices in Iraq 2010 Leighton won $733 mil contract to install 3 mooring points in Basra to increase oil exports 2011 got $79 mil contract from South Oil Company to add 4^th mooring point Got $158 mil contract for work on pipelines and platforms Leighton did pay bribes

 

Mar 7 Insurgents bombed Kirkuk oil pipeline cutting northern exports

Mar 7 Norway’s Statoil confirmed it would sell its stake in West Qurna 2 oil field to Russia's Lukoil

Statoil owned 18.75% of joint venture Lukoil owned 56.25%

Mar 7 Report MP on oil comm said Oil Min’s secrecy helped smuggling Oil comm asked for greater

transparency from Oil Min 2011 report by Intl Advisory and Monitoring Board said huge amounts of oil smuggling Said Oil Min hadn’t installed meters on all its export outlets Didn't keep track of how much oil went to refineries Said lack of meters allowed smuggling Gangs tapped into oil pipelines with police protection

 

Mar 11 KRG said it wanted to produce 1 mil/bar/day of oil by 2014 and 2 mil/bar/day by 2019

Didn’t happen Meant to draw in investors

(Musings On Iraq Iraq’s Kurds Push For More Oil Production, While Bickering With Baghdad Over Exports)

 

Mar 13 Report KRG Natural Resource Min didn’t have good records on imports of fuel or export

of oil KRG imported large amounts of counterfeit and expired medicine Health Min not fighting corruption in health care system Little transparency in contracts signed Many contracts signed by Pres Barzani’s office or cabinet without showing ministries

Mar 13 1^st oil tanker loaded at new floating oil terminal in Basra Would help greatly increase

exports

Mar 13 Oil Ministry told KRG not meeting its 175,000 bar/day oil export quota KRG was to get

monthly payments from Baghdad in return Exports been decreasing for months

(Musings On Iraq Iraq’s Kurds Push For More Oil Production, While Bickering With Baghdad Over Exports)

(Musings On Iraq Kurds May Be Fighting Losing Battle With Iraq’s Central Government Over Oil Exports)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Mar 15 Report oil companies in Kurdistan cut back production because owed money by KRG

Baghdad stopped monthly budget payments to KRG over oil dispute

(Musings On Iraq Iraq’s Kurds Push For More Oil Production, While Bickering With Baghdad Over Exports)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Mar 16 Oil Minister Luaibi claimed Exxon sent letter saying it was suspending its contract in KRG

Exxon continued work in Kurdistan

(Musings On Iraq Exxon Mobile Trying To Have It Both Ways In Iraq, Developing Oil Fields in The South And North)

(Musings On Iraq Exxon Deal With Iraq’s Kurds Gains Powerful New Ally, Ninewa’s Governor, But Will It Backfire On Him?)

(Musings On Iraq How the New Chevron Deal Affects Oil Dispute Between Iraq’s Central Government And Kurdistan)

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

 

Mar 17 KRG said Exxon was still going through with its oil contract after Oil Minister claimed it

was suspending work in Kurdistan

(Musings On Iraq Exxon Mobile Trying To Have It Both Ways In Iraq, Developing Oil Fields in The South And North)

(Musings On Iraq Exxon Deal With Iraq’s Kurds Gains Powerful New Ally, Ninewa’s Governor, But Will It Backfire On Him?)

(Musings On Iraq How the New Chevron Deal Affects Oil Dispute Between Iraq’s Central Government And Kurdistan)

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

 

Mar 26 KRG said it would stop oil exports if it didn’t get paid for what it had already shipped

Claimed owed $1.5 bil by Baghdad Said hadn’t gotten monthly payment since May 2011 KRG was not meeting its oil export quota

(Musings On Iraq Kurds May Be Fighting Losing Battle With Iraq’s Central Government Over Oil Exports)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Mar 26 KRG demanded that Baghdad get its permission to work on Kirkuk oil field Oil Min was

talking with BP to develop field

(Musings On Iraq Talks Over Development Kirkuk Field Highlight Differences Between Iraq’s Government and Kurds Over Oil In Disputed Territories)

 

Mar 28 Baghdad said it would pay KRG $558 mil for Kurdish oil exports from budget Came after

KRG threatened to stop oil exports for central govt until it got monthly budget payments

(Musings On Iraq Kurds May Be Fighting Losing Battle With Iraq’s Central Government Over Oil Exports)

 

Mar 31 Oil Ministry paid oil companies in Kurdistan $650 mil for exports Concession to KRG after

it threatened to stop all exports for Baghdad

(Musings On Iraq Kurds May Be Fighting Losing Battle With Iraq’s Central Government Over Oil Exports)

 

Apr 1 KRG halted oil exports for Baghdad over budget dispute

(Musings On Iraq Iraq’s Central And Regional Governments Reach Third Oil Deal, But Will It Last?)

(Musings On Iraq Kurds May Be Fighting Losing Battle With Iraq’s Central Government Over Oil Exports)

(Musings On Iraq Iraq’s Government Increases Pressure Upon Kurdistan For Its Oil Policy By Threatening To Cut Its Share Of The Budget)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Apr 2 Dep PM Shahristani accused KRG of smuggling oil to Iran and Turkey Said KRG had earned

$3.5 bil from smuggling in 2011 Said KRG not meeting its oil export quota under 2012 budget Said KRG owed Baghdad $5.6 bil

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Apr 2 Oil Min Luaibi claimed Exxon was halting work in KRG so that it could continue

            working with Baghdad KRG Natural Resource Min Hawrami denied that

(Musings On Iraq Exxon Mobile Trying To Have It Both Ways In Iraq, Developing Oil Fields in The South And North)

(Musings On Iraq Exxon Deal With Iraq’s Kurds Gains Powerful New Ally, Ninewa’s Governor, But Will It Backfire On Him?)

(Musings On Iraq How the New Chevron Deal Affects Oil Dispute Between Iraq’s Central Government And Kurdistan)

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

Apr 2 Report KRG stopped oil exports for Baghdad 2011 made budget deal for KRG to export oil

for Baghdad in return for monthly budget payments KRG said hadn’t gotten money since May 2011 KRG was exporting 50,000 bar/day for Baghdad below its quota March 2012 Finance Min Issawi said Baghdad would be paying KRG $560 mil but had to be audited first Dep PM Shahristnai accused Kurds of smuggling oil to Iran and Turkey

(Musings On Iraq Kurds May Be Fighting Losing Battle With Iraq’s Central Government Over Oil Exports)

(Musings On Iraq Iraq’s Government Increases Pressure Upon Kurdistan For Its Oil Policy By Threatening To Cut Its Share Of The Budget)

 

Apr 3 Kurds accused Shiite parties in Baghdad of smuggling oil to Israel via Jordan

            after Dep PM Shahristani accused KRG of smuggling oil to Iran

(Musings On Iraq Kurds May Be Fighting Losing Battle With Iraq’s Central Government Over Oil Exports)

 

Apr 4 Dep PM Shahristani told Kirkuk governor had to stop oil smuggling to KRG

Apr 4 Report KRG Natural Resource Min Hawrami admitted that KRG smuggling oil to Iran Said

KRG wanted to build its own oil pipeline to Turkey

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Apr 5 Report Shell was considered signing oil deal with KRG but backed out after decided to focus

on Basra Major oil companies more interested in KRG due to problems with Baghdad including red tape infrastructure bottlenecks

(Musings On Iraq Will Shell Take The Leap Into Iraq’s Kurdistan?)

 

Apr 7 Dep PM Shahristani complained about KRG oil contracts saying they were unrealistic

(Musings On Iraq Kurds May Be Fighting Losing Battle With Iraq’s Central Government Over Oil Exports)

 

Apr 13 Report Feb 2012 Exxon withdrew from Common Seawater Supply Facility that was to help

with oil production

 

Apr 17 PM Maliki accused Kurds of smuggling oil to Iran

 

Apr 18 Dep PM Shahristani said Exxon would not start working in KRG until Baghdad

            approved contract Exxon went ahead anyway

(Musings On Iraq Exxon Deal With Iraq’s Kurds Gains Powerful New Ally, Ninewa’s Governor, But Will It Backfire On Him?)

(Musings On Iraq How the New Chevron Deal Affects Oil Dispute Between Iraq’s Central Government And Kurdistan)

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

Apr 18 Report Dep PM Shahristani revised prediction for future Iraq oil production from 12

mil/bar/day by 2017 to 8.5 mil/bar/day Didn’t meet either mark

 

Apr 19 Oil Min said it would exclude Exxon from May oil and gas auction in retaliation for signing

oil deals with KRG

(Musings On Iraq Exxon Deal With Iraq’s Kurds Gains Powerful New Ally, Ninewa’s Governor, But Will It Backfire On Him?)

(Musings On Iraq How the New Chevron Deal Affects Oil Dispute Between Iraq’s Central Government And Kurdistan)

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

 

Apr 20 Oil Ministry backed down Said Exxon could continue work at West Qurna oil field despite

            signing oil deal with Kurds

(Musings On Iraq How the New Chevron Deal Affects Oil Dispute Between Iraq’s Central Government And Kurdistan)

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

 

Apr 23 Oil Min said Iraq would reach 6 mil/bar/day in exports by end of 2013 Didn’t happen

 

Apr 24 Pres Barzani said that Exxon would follow through with its contracts to work

            with KRG despite threats from Baghdad

(Musings On Iraq How the New Chevron Deal Affects Oil Dispute Between Iraq’s Central Government And Kurdistan)

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

 

Apr 30 KRG said Baghdad should pay foreign oil companies working in Kurdistan Wanted

independent oil contracts but for Baghdad to pay its bills

 

May 4 KRG called for Baghdad to pay oil companies operating in Kurdistan Wanted independent oil

contracts but for Baghdad to pay its bills

May 4 KRG said in talks with Turkey to build an oil and gas pipeline between two

(Musings On Iraq Iraq’s Kurds’ Gambit On Pipelines To Turkey May Not Pan Out)

(Musings On Iraq Iraq’s Government Tries To Punish Kurdistan For Independent Energy Policy)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 12 KRG Natural Resource Min said if Baghdad didn’t deliver region’s share of

            budget it would truck oil for exports independently

 

May 18 KRG began preparations to build independent oil pipeline to Turkey

(Musings On Iraq Iraq’s Kurds’ Gambit On Pipelines To Turkey May Not Pan Out)

(Musings On Iraq Iraq’s Government Tries To Punish Kurdistan For Independent Energy Policy)

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 19 France’s Total announced talks with KRG about oil deals there over objections

            of Baghdad

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 20 KRG said it was building independent oil pipeline to Turkey Said it would reach 2

            mil/bar/day in production by 2014 Didn’t make that mark

(Musings On Iraq Iraq’s Kurds’ Gambit On Pipelines To Turkey May Not Pan Out)

(Musings On Iraq Iraq’s Government Tries To Punish Kurdistan For Independent Energy Policy)

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 21 KRG announced energy deals with Turkey Baghdad warned KRG it could not

sign independent oil deals with Turkey Dep PM Shahristani ordered Oil Ministry to stop petrol deliveries to KRG Would later deny he gave order

(Musings On Iraq Iraq’s Government Tries To Punish Kurdistan For Independent Energy Policy)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 22 Dep PM Shahristani ended order to stop fuel supplies to KRG after met with Pres Talabani

Was threat to KRG after signed oil deal with Turkey Iraq told Turkey to halt pipeline deal with KRG

(Musings On Iraq Iraq’s Government Tries To Punish Kurdistan For Independent Energy Policy)

 

May 23 Head of Central Bank of Iraq called for econ reforms Said state expanding too much

Retarded development of private sector 95% of govt revenue from oil Only provides 1% of jobs Unofficial unemployment 30% If wanted to deal with jobless had to move away from oil dependence

 

May 24 KRG PM Barzani said that if Baghdad cut off fuel deliveries KRG would

            export oil independently

(Musings On Iraq Iraq’s Government Tries To Punish Kurdistan For Independent Energy Policy)

 

May 25 Baghdad said that all Kurdish oil deals with Turkey had to be approved by the central govt

 

May 29 Dep PM Shahristani denied that he ordered stop of fuel deliveries to KRG even though he

did in dispute over oil

(Musings On Iraq Iraq’s Government Tries To Punish Kurdistan For Independent Energy Policy)

 

May 30 Iraq Oil Ministry held 4^th auction for 12 oil and gas fields Only 1 winning bid

(Musings On Iraq Disappointing Fourth Oil And Gas Auction For Iraq)

 

May 31 2^nd day of 4^th auction round for Iraq oil and gas fields Only 2 winning bids

(Musings On Iraq Disappointing Fourth Oil And Gas Auction For Iraq)

May 31 Iraq announced 5^th auction round for Iraqi oil and gas fields would be held

            after disappointing 4^th auction

 

Jun 5 KRG Natural Resource Min Hawrami said KRG could reach 2 mil/bar/day in production by

2019 Didn’t

 

Jun 6 PM Nechirvan Barzani talked with Turkish PM Erdogan about KRG exporting

            oil to Turkey

(Musings On Iraq Iraq’s Government Tries To Punish Kurdistan For Independent Energy Policy)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jun 13 Adviser to KRG’s Natural Resource Min said KRG would reach 1 mil/bar/day oil

production capacity by 2015 Natural Resource Min originally said would reach that goal by 2014 It didn’t meet either date

 

Jun 14 Gov Nujafi reversed course and said that he now supported Kurdish oil deal with

            Exxon

(Musings On Iraq Exxon Deal With Iraq’s Kurds Gains Powerful New Ally, Ninewa’s Governor, But Will It Backfire On Him?)

 

Jun 19 PM Maliki said Exxon deal with KRG could lead to break up of Iraq Baghdad asked US

for help to stop deal Maliki’s media adv said govt would stop any KRG-Exxon oil deal that involved disputed areas

(Musings On Iraq Exxon Deal With Iraq’s Kurds Gains Powerful New Ally, Ninewa’s Governor, But Will It Backfire On Him?)

(Musings On Iraq How the New Chevron Deal Affects Oil Dispute Between Iraq’s Central Government And Kurdistan)

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

 

Jun 20 Dep PM Shahristani said Exxon promised to stop working in KRG until Baghdad made deal

with Kurds Didn’t happen Shahristani warned France not to have any of its companies sign with KRG

(Musings On Iraq How the New Chevron Deal Affects Oil Dispute Between Iraq’s Central Government And Kurdistan)

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

 

Jun 21 Maliki called for Gov Nujafi to be dismissed saying he violated constitution by

            holding talks with Kurds over oil deals in disputed areas

 

Jun 24 Report Dep PM Shahristani visited foreign diplomats warning them not to have their oil

companies sign deals with KRG Said any company that worked in KRG would be blacklisted

 

Jun 28 Iraq signed deal to import 25 mil sq meters of natural gas per day from Iran to fuel power

plants for 5 yrs

 

Jul 3 KRG Natural Resource Min Hawrami said Kurds would sell natural gas to Turkey in 2 yrs

Didn’t happen

 

Jul 4 Report Oil Min said KRG not meeting its quota of oil exports under budget KRG said it was

using oil for local refineries Said fuel shipments from Baghdad had been cut Oil Min denied that

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Jul 4 Leighton Holdings fired sr manager for bribery case to get $733 mil in contracts with Oil Min

to build oil export facilities in Basra

 

Jul 6 VP Shahristani’s office said KRG could not sign any oil or gas deals without Baghdad’s

            permission

 

Jul 9 KRG announced it was trucking oil to Turkey Said it got refined products in return Dep PM

Shahristani said it was illegal

(Musings On Iraq Iraq’s Government Tries To Punish Kurdistan For Independent Energy Policy)

 

Jul 24 Iraq blacklisted Chevron from future energy deals over investing in KRG oil

(Musings On Iraq How the New Chevron Deal Affects Oil Dispute Between Iraq’s Central Government And Kurdistan)

 

Jul 31 France’s Total signed contracts for two oil blocks in KRG to work with Marathon Oil Ignored warnings from Baghdad Already had contract with Baghdad for Halfaya oil field Total said KRG gave better terms than Baghdad

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 1 Russia’s Gazprom signed deal for 2 oil blocks in KRG Russia’s Bashneft and UK’s Premier

Oil signed deal with Oil Ministry for 1 block

Aug 1 KRG said it would restart oil exports for Baghdad to try to get a new revenue

            deal with the central govt

(Musings On Iraq Iraq’s Central And Regional Governments Reach Third Oil Deal, But Will It Last?)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Aug 1 Baghdad blacklisted France’s Total for singing 2 oil deals with KRG

 

Aug 2 Report KRG said it would export oil for one month for Baghdad If didn’t pay its outstanding

debts KRG would stop Oil companies in KRG said didn’t want to export because hadn’t been paid for 2009 and 2011 exports

(Musings On Iraq Iraq’s Central And Regional Governments Reach Third Oil Deal, But Will It Last?)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 3 Kurdish Coalition demanded that Baghdad pay oil companies working in KRG Said would be

concession for KRG restarting oil exports for Baghdad

 

Aug 5 Report Oil contracts KRG offered drew in more companies Offered more profits Natural

Resource Min Hawrami said KRG oil production could reach 1 mil/bar/day by 2014 2 mil/bar/day by 2017 Didn’t happen KRG signed 1^st oil deal with Genel Energy in 2002 Deal with DNO in 2003 Now 4 of the top 10 oil companies Exxon Chevron Total Gazprom worked in KRG Aug companies complained not paid

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 7 KRG re-started oil exports for Baghdad to try to get a new revenue sharing deal with central

govt KRG stopped exports in April

(Musings On Iraq Iraq’s Central And Regional Governments Reach Third Oil Deal, But Will It Last?)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 10 Genel Energy CEO said KRG won oil dispute with Baghdad Said major oil companies now

in KRG Many had contracts with Oil Min Baghdad couldn’t retaliate because companies too big

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 13 Report Spokesman for Dep PM Shahristani said Total had to choose between working in

KRG or southern Iraq Jul Total signed oil deal with KRG Already had deal with Oil Min for Halfaya field

 

Aug 16 Report Exxon got drilling permits in KRG Dep PM Shahristani claimed Exxon had stopped

work in KRG Exxon said it told Maliki govt it was working in KRG

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

 

Aug 20 US warned that oil companies signing deals with Kurds without Baghdad’s

            approval were taking risks

Aug 20 Parliament’s oil committee said politicians pressuring Electricity Min to sign deals with

Turkish companies not capable of finishing projects

 

Aug 21 Report Maliki govt not agreed to pay oil companies in KRG 2010 Baghdad-KRG came to

agreement over KRG exporting oil Baghdad agreed to pay oil companies in KRG Dep PM Shahristani and Oil Min Luaibi not agreed to that Apr 2012 KRG stopped exports over budget dispute Aug KRG restarted exports

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 23 CEO of Genel Energy said major oil companies signing deals with KRG meant that deal

with Baghdad would happen soon Didn’t happen

 

Aug 25 Natural Resource Min Hawrami said KRG took responsibility for all outstanding liabilities of

oil companies operating in region Said Baghdad owed companies $1.5 bil and KRG wasn’t responsible for that debt

 

Aug 26 Report Shell supposed to produce 175,000 bar/day of oil at Majnoon field in 2012 Couldn’t

because of lack of pipeline Shell asked Baghdad for waiver on reaching target Had to reach mark to start getting paid Lack of infrastructure would hinder Iraq’s oil plans

 

Aug 27 Report Analyst said that oil companies in KRG had only made modest gains Western Zagros

shares went from $1.12 to $1.35 after signed deal with KRG Signature bonuses companies had to pay KRG were going up Genel Energy paid $175 mil signing bonus to buy into oil field

 

Aug 28 Report Apr KRG stopped oil exports for Baghdad Aug restarted then threatened to stop oil

exports again by Sep Complained Baghdad not paid oil companies in KRG KRG not meeting 175,000 bar/day quota Didn’t provide receipts for costs nor submit to audit 2012 budget included $559.4 mil for oil companies in KRG Baghdad not released money

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Sep 6 Report Chevron Total Gazrom signed oil deals with KRG Jul Dep PM Shahristnai met with

Exxon over KRG Threatened to blacklist company that also had deal to develop West Qurna I field in Basra Iraq didn’t have any leverage over oil majors

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

 

Sep 9 Report 15 trucks of Kurdish oil trucked to Turkey each day Turkey sent diesel and kerosene

in return KRG official said trade would increase Baghdad said it was illegal oil smuggling Started Jul Turkey’s Energy Minister wanted trade to increase to 200 trucks/day

 

Sep 13 Report KRG and Baghdad came to new oil export deal Dep PM Shaways said 2 sides agreed

to work out differences Apr Kurds halted exports for Baghdad over payment dispute Baghdad wanted KRG to export 200,000 bar/day by Oct

(Musings On Iraq Iraq’s Central And Regional Governments Reach Third Oil Deal, But Will It Last?)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Sep 12 Report Oil Min said it wanted to reach 6 mil/bar/day in exports by 2017 Didn’t happen Only

avg 3.3 mil/bar/day in 2017

 

Sep 18 Cabinet approved new oil export-revenue sharing deal with KRG

Sep 18 Report Shell agreed to restart oil production at Majnoon field Had to reach certain output

mark to get paid Asked Oil Min for waiver because couldn’t meet mark by end of 2012 Stopped production Jun for maintenance Shell blamed lack of infrastructure as major problem 

 

Sep 21 Report Exxon Total Chevron Gazprom faced little retaliation from Baghdad for signing

deals with KRG Baghdad still controlled pipeline to Turkey for exports Forced KRG to smuggle oil to Turkey Baghdad said Exxon wouldn’t be able to work in south Iraq if worked in KRG Exxon threatened to sue Iraqi govt

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

Sep 21 Iraq and Jordan discussed building oil and gas pipelines Never happened

Sep 21 Report Shell thought about signing oil deal with KRG Inspired by Exxon and Total working

there had 2 talks with KRG in 2007 and 2011 KRG offered better terms than Baghdad

(Musings On Iraq Will Shell Take The Leap Into Iraq’s Kurdistan?)

 

Sep 23 Report Shell dropped out of talks to sign oil deal with KRG

(Musings On Iraq Will Shell Take The Leap Into Iraq’s Kurdistan?)

 

Sep 30 KRG Natural Resource Min Hawrami said Maliki govt would start paying oil companies in

KRG

 

Oct 2 Finance Min started paying $650 mil to oil companies in KRG Part of new oil/budget deal

between Maliki govt and KRG

Oct 2 Report Iran building natural gas pipeline to Iraq to fuel power plants Supposed to open

summer 2013 Would go to Diyala and Baghdad Wanted to expand to Syria and Mediterranean That never happened

 

Oct 3 Oil Min wanted to reduce production target Was 12 mil/bar/day by 2017 Now thought of

cutting that in half to 6 mil/bar/day by 2020 Iraq doesn’t have infrastructure Had bottlenecks that makes 12 mil/bar/day impossible Iraq was producing 3.3 mil/bar/day Iraq wanted to rival Saudi Arabia as largest oil producer in world

 

Oct 4 Report KRG Natural Resource Min Hawrami said that KRG would build independent oil

pipeline to Turkey

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 5 Genel Energy said it might stop exporting oil from KRG because not paid Maliki govt made

new export deal with KRG and sent money to Irbil Genel Energy not paid for exports in 2009 and 2011

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 7 Report When Iraq held auctions for oil fields in 2009-10 wanted max possible oil production

Led to 12 mil/bar/day by 2017 Was impossible Intl Energy Agency predicted Iraq would produce 4 mil/bar/day by 2017 Iraq needed 6000 wells seismic surveys pipelines storage water injection to increase production Iraq revised down prediction to 9 mil/bar/day by 2020 Still may not be possible Signed deal for pipeline through Syria but ended with Syrian civil war

 

Oct 9 Intl Energy Agency predicted Iraq would produce 6.1 mil/bar/day of oil by 2020 Was half of

what Oil Min predicted

 

Oct 10 Report Oil Min signed $170 mil deal with CH2M to plan water injection project to keep

pressure up in oil wells in south Dep PM Shahristani said Iraq could produce 6 mil/bar/day by 2015 and 10 mil/bar/day by 2020 Didn’t happen CH2M replaced Exxon who was originally in charge of project Water project never done

 

Oct 14 Dana Gas and Crescent Petroleum said produced 340 mil/cubic/ft/natural gas/day and

15,000 bar/day of liquid gas Used for local power plants

 

Oct 18 Exxon said in talks to sell share of West Qurna 1 field Wanted to focus on KRG Oil Min

payments to Exxon barley covered costs Nov 2011 signed deal with KRG

 

Oct 22 Iraq’s ambassador to US asked Obama admin to intervene with Exxon and stop its contract

with KRG US said it couldn’t do much

Oct 22 KRG used 2 trading company to truck around 8,000 bar/day of oil to Turkey KRG wanted

to increase exports to 12,000 bar/day by end of Oct Supported by Turkish govt Iraq said deals illegal

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 23 Oil Min signed $127.5 mil deal with KOGAS to build 2 natural and liquid gas pipelines

from Kirkuk to Baiji

 

Oct 24 Austria’s OMV withdrew from 2 blocks in KRG Explored for oil and gas for 5 yrs Didn’t

find any

 

Oct 31 Report Eni wasn’t as excited about Iraq’s oil as before CEO complained about bureaucracy

lack of infrastructure politics End invested $4-$5 bill Originally planned on $18 bill

 

Nov 2 Report Gulf Keystone restarted oil production in KRG after 6 months due to request by

KRG

 

Nov 7 Iraq kicked Turkey’s TPAO out of oil deal with won in May Was retaliation for Turkey

taking in VP Hashemi who had warrant out for him

Nov 7 Report Exxon sent letter to Oil Min that it wanted to shell its share of West Qurna 1 field

Part of withdrawal of major oil companies from Iraq

 

Nov 8 Barham Salah said that new draft oil law was agreed upon and would go to parliament by

end of 2011 Never passed

 

Nov 9 Report VP Shahristani told Gazprom it had to cancel its deal with KRG otherwise couldn’t

work on Basra oil field Aug Gazprom singed for 2 blocks in KRG

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Nov 12 Oil Min Luaibi said Iraq could produce 9 mil/bar/day in oil by 2018 Had potential for 12

mil/bar/day Said would require up to $150 bil in investment and foreign oil companies would pay for it Said could reach 3.4 mil/bar/day production by start of 2013 and 3.5 mil/bar/day by end of 2013 Didn’t happen

 

Nov 13 Intl Energy Agency said Iraq needed to inject 1.5 bar of water for every 1 bar of oil

produced Iraq faced water crisis Flow down Tigris and Euphrates cut by neighboring countries Common Seawater Supply Facility supposed to solve problem Never done

 

Nov 15 Report Vast Exploration and Niko Resources withdrew from Sulaymaniya Signed deal

with KRG in 2009 Found oil not commercially viable

 

Dec 2 Baghdad sent $ 1 bil to KRG as part of new deal where KRG would export oil for Baghdad

 

Dec 7 Genel Energy said it would fund KRG oil pipeline to Turkey Said wanted to export natural

gas to Turkey as well

 

Dec 10 Oil Min Luaibi said KRG exporting less than 100,000 bar/day for Baghdad which was

below its 200,000 bar/day quota Said KRG was smuggling oil to Turkey and Iran KRG said it cut exports because Baghdad wasn’t delivering money Baghdad only made 1 payment Sources said Baghdad also cut refined oil products sent to KRG

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Dec 11 Report US didn’t want Turkey to sign oil deal with KRG Afraid of KRG independence

Turkish company talking with KRG about oil natural gas exports plus pipeline 03 Turkey against KRG independence 07 PM Erdogan changed Kurdish policy Started relations with KRG Turkey wanted to become energy hub of MIdEast and Europe

 

Dec 12 Report Bureaucracy holding up oil companies expanding in KRG Delays in getting

equipment and visas Companies got inconsistent payments that didn’t cover costs because of KRG-Baghdad oil dispute KRG not creating skilled oil workers for future KRG had shortage of contractors and suppliers Natural Resource Min didn’t have capacity to deal with needs of companies

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Dec 15 Report Turkey’s Dep Energy Min said he expected KRG and Turkey to export oil and gas

to intl market in Dec KRG did export oil to Turkey in 2013 but not gas

 

Dec 21 Dep PM Shahristani said KRG not meeting its export quota so Baghdad wouldn’t pay oil

companies in KRG Was supposed to export 200,000 bar/day KRG was only exporting around 5,000 bar/day

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Dec 22 KRG halted oil exports for Baghdad claiming oil companies not paid Said Baghdad paid

companies $650 mil out of $858 mil owed Baghdad wasn’t paying KRG because wasn’t meeting export quota

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Dec 24 Report Iraq and Jordan agreed to build pipeline to Red Sea Didn’t happen

 

Dec 25 Iran-Iraq deal signed Iran would supply natural gas to Iraq power stations and build

pipeline that would extend to Syria Syrian part never done due to war

 

2013

Jan 8 KRG Natural Resource Min Hawrami told press KRG was trucking oil to Turkey Came after

KRG-Baghdad oil export deal failed

 

Jan 11 Maliki govt said it would seize KRG oil exports and sue companies involved Baghdad said

it was only one that had authority to export oil

 

Jan 23 Report Iraq tried to improve contracts to become more competitive Iraq often had long

delays in loading oil tankers 1 buyer said Iraq didn’t make enough concessions Basra Light oil was more expensive than Saudi oil

 

Jan 25 Report Exxon expanded its work in KRG by adding share of new oil field in Sulaymaniya

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jan 27 Report Oil Min Luaibi told Exxon it had to choose between working in southern Iraq or KRG

Said KRG oil deals were illegal Exxon’s CEO met with PM Maliki and Pres Barzani

 

Jan 29 Report KRG Natural Resource Min Hawrami warned BP about taking deal on Kirkuk oil field

BP wanted to rehabilitate field Hawrami said any deal had to be approved by Kirkuk and KRG

Jan 29 Report DNO stock prices dropped Nov 2012 KRG cut oil exports Dec 2012 KRG stopped oil

exports for Baghdad Said Baghdad owed oil companies in KRG over $200 mil VP Shahristani said Baghdad wouldn’t pay DNO was 1^st company to drill for oil in Iraq after 2003

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Jan 29 Report Iraq’s goal of 12 mil/bar/day in oil production impossible due to lack of

infrastructure and logistics

 

Jan 30 Report Exxon wanted out of its contract for West Qurna 1 field in Basra Wanted to focus on

KRG 2011 signed deals for 6 blocks in KRG PM Maliki asked Exxon to drop KRG deals and focus on Basra Exxon first major oil company to sign with KRG Afterward Total Gazprom Chevron signed deals with KRG 3 of Exxon’s blocks in disputed areas

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 2 Natural Resource Min Hawrami said KRG would build its own pipeline to Turkey without

Baghdad’s consent

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 13 Report Oil Min Luaibi said Iraq needed $4 bil in investment in oil Wanted to reach 7

mil/bar/day in oil capacity by 2022 Didn’t happen

 

Feb 20 Iraq signed deal to build natural gas pipeline from Iran across Iraq to Syria Didn’t happen

 

Feb 26 US govt report Oil exports larger % of Iraq’s exports than Kuwait Iran Saudi Arabia Qatar

Iraq’s other products uncompetitive with imports Iraq had large trade deficit in every field except oil 2004-2010 value of Iraq’s non-oil exports declined 73% Oil increased corruption Made govt independent of population and unresponsive to their demands Agriculture employed 23% of work force but less than 3% of GDP Oil and gas employed 1% of workers but 59% of GDP

 

Feb 27 Report KRG PM Barzani criticized PM Maliki’s threats against energy companies in region

Said Baghdad should be working with companies not threatening them Baghdad said KRG didn’t have right to sign independent oil deals or export oil KRG said is right under constitution Jan Oil Min Luaibi said Exxon had to choose between working with Baghdad or KRG Adv to Dep PM said if KRG signed its own deals and exported oil what would stop Basra from doing the same Said undermined central planning Also meant Baghdad would not get revenues because each province and region would keep profits Said that was unconstitutional Adv demanded KRG have all its contracts approved by Oil Min first Dispute over oil held up 2013 budget Dec 2012 KRG stopped exporting oil for Baghdad Then started trucking oil to Turkey so could keep money KRG Natural Resource Min Hawrami said wanted to reach 500,000 bar/day in exports by end of 2013 and 1 mil/bar/day by 2014 Didn’t happen

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 28 Report Kurdish Coalition accused Maliki govt of not paying oil companies in KRG State of

Law MP said Baghdad paid KRG $1 bil for companies’ costs Said KRG hadn’t exported half the oil it promised for Baghdad

 

Mar 9 KRG said it would export oil independently and not give revenue to Baghdad because

budget was passed and didn’t include paying oil companies working in KRG Said wouldn’t export 250,000 bar/day quota for Baghdad as a result

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Mar 19 UN report said oil revenues halting diversification of Iraq’s economy Said strengthening

dinar making exports less competitive and imports more affordable Limited job creation Oil industry set for expansion making situation worse

 

Apr 9 Turkey said it was ready to build a pipeline for Kurdish oil exports

 

Apr 15 Basra Gas Company was supposed to start operation Was joint venture between Shell and

Mitsubishi to collect natural gas produced at Basra oil fields

 

Apr 16 500 protested at West Qurna 2 oil field demanding jobs and benefits from

            Lukoil that ran site

 

Apr 17 KRG said it was ready to export oil to Turkey directly when it finished its pipeline

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Apr 25 Report KRG’s economy was oil dependent

 

May 5 KRG said unless Baghdad paid them money owed from budget they would start exporting

            oil independently

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 13 KRG signed new energy deal with Turkey Ankara would get stakes in KRG oil and gas fields

 

May 21 KRG said it wanted to build a second independent oil pipeline to Turkey

 

May 22 Report KRG was exporting around 40,000 bar/day of oil through Turkey Supposed to reach

60,000 bar/day by end of Jun Iraq sent letters warning buyers not to purchase oil Govt said it would sue companies exporting oil from KRG

 

May 23 Report Oil companies wanted to revise down production targets with Oil Min Couldn’t meet

goals in contracts due to lack of infrastructure red tape etc Iraq originally said it would reach 16 mil/bar/day in production by 2020 Revised down to 9 mil/bar/day Didn’t reach that mark

 

May 25 Report Baghdad said it would take legal action against KRG for oil exports to Turkey Dep

PM Shahristani said illegal for KRG to export oil without turning over revenue to Baghdad Jan KRG began exports to Turkey Iraq sent letters to companies telling them not to buy KRG oil Turkey in talks to build 2^nd pipeline to KRG

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jun 6 Report KRG Natural Resource Min Hawrami issued report saying KRG would produce 1

mil/bar/day in oil by 2015 2 mil/bar by 2019 Didn’t happen

 

Jun 13 Report PM Maliki’s oil advisor fmr Oil Min Ghabban said Iraq wanted to increase oil

production to 4.5 mil/bar/day by end of 2014 Iraq’s Integrated National Energy Strategy called for developing infrastructure diversifying economy creating jobs improving living standards Didn’t meet any of its goals

 

Jun 17 Exxon signed 3^rd contract with KRG to explore for oil in Sulaymaniya

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

 

Jun 19 Report France’s Total expanded investment in KRG Bought 80% stake in Bar Bahar field

in Dohuk Already had 35% stake in Harir and Safen fields in Irbil

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jun 20 Chevron signed new exploration deal with KRG for work in Irbil Gazprom met with Pres

Barzani to discuss oil deals in KRG despite warnings from Oil Min

(Musings On Iraq The State Of The Kurdish Regional Government In Iraq, An Interview With National Defense Univ’s Dr Denise Natali)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Jun 20 Report BP Lukoil Eni and Iraq agreed to reduce production target for Rumaila oil field

Shell and Exxon also wanted reductions Meant Iraq would not reach its production target of 6.5 mil/bar/day by 2014

 

Jun 28 Report KRG moving ahead with independent oil pipeline to Turkey Said would allow KRG

to be paid directly Claimed it would share profits with Baghdad Didn’t happen

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Jun 28 Report Oil Min said it would earn $500 bil from natural gas by 2023 Govt planned on

investing $40 bil into project Around 1000 cubic ft of gas burned a day costing around $7.3 bil/yr Project only partially completed

 

Jul 1 Report Chevon would invest in 3^rd oil block in KRG Total bought into 3^rd bloc in KRG

(Musings On Iraq How the New Chevron Deal Affects Oil Dispute Between Iraq’s Central Government And Kurdistan)

 

Jul 2 PM Maliki met with CEO of Gazprom Asked it stop work in KRG It didn’t

 

Jul 15 Eni agreed to lower production target for Zubayr field in Basra Originally was 1.2

mil/bar/day Agreed to 850,000 bar/day by 2035 Was due to lack of infrastructure

 

Jul 21 Oil Min sent letter to Shell criticizing it for falling behind in development of Majnoon field

Came during drop in oil exports Claimed delays cost 44 mil/bar in production Was due to lack of infrastructure and red tape

 

Aug 7 Report KRG still smuggling oil to Iran Up to 30,000 bar/day being trucked to Iran Source said

            KRG officials supported oil trade to appease Iran for KRG exporting oil to Turkey

(Musings On Iraq News Emerges of Iraq’s Kurdistan Trucking Oil To Iran Again)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 17 Parliament’s oil committee said Oil Min wouldn’t reach goal of 4 mil/bar/day in oil

production by 2013 because of deteriorating infrastructure Was right

 

Aug 12 Report Iraq released summary of Integrated National Energy Strategy Assumed oil prices

would stay above $100/bar Predicted Iraq would export natural gas by 2015 Talked about diversifying economy via industry but made no effort at it Called for increasing govt services and govt jobs which wasn’t diversification 2007-12 59% of new jobs came from govt Only 3% came from farming/industry

 

Aug 27 Report KRG opened new road to Iran for oil smuggling Oil sent to export terminal in Persian

Gulf Up to 30,000 bar/day trucked into Iran US warned KRG about smuggling

(Musings On Iraq News Emerges of Iraq’s Kurdistan Trucking Oil To Iran Again)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Sep 18 Report BP Shell Exxon negotiated with Oil Min to reduce production quotas Talks started

2012 Lukoil and Eni already cut their targets Lack of infrastructure main cause

 

Sep 24 Maliki govt asked KRG to connect its independent pipeline to Turkey with govt one so

Baghdad could control exports KRG pipeline supposed to be finished soon KRG refused

Sep 24 Report Dep PM Shahristani said govt would cut KRG’s budget payments if started

independent oil exports Shahristani said Iraq would build 5 mooring points in Basra Each had capacity of 900,000 bar/day in oil for exports

 

Sep 26 Report KRG owed Dana Gas $380-$390 mil for fuel delivered

 

Oct 3 Exxon announced it was starting drilling in KRG Has 6 blocs 3 are in disputed areas Chevron

started drilling in its 2 blocs Jul

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Oct 3 Report Iraq passed Iran in oil production due to sanctions on Tehran Asia bought most Iraqi

oil Problems with infrastructure like pipelines and storage Wanted to reach 12 mil/bar/day in production by 2017 which was impossible given infrastructure Oil companies wanted to lower production targets

 

Oct 4 KRG Natural Resource Min Hawrami said Dana Gas breached its agreement and owed

damages as a result Report KRG owed Dana $380-$390 mil for past work Did repairs on natural gas facility at Khor Mor in Jul but didn’t restart production because no contract for sales

 

Oct 8 Report 2012 Iraq surpassed Iran as 2^nd largest OPEC producer Production 3 mil/bar/day

Exports 2.4 mil/bar/day Had low production costs and easily accessible oil Lacked oil law infrastructure Suffered bottlenecks at every step from production to exports Attacks on pipelines Infrastructure could barely handle current production 2004 started work to renovate Basra export terminals 2012 added 2 mooring platforms to increase exports Exports still below predictions Pipelines in Basra corroding Can’t take full capacity Delay in building storage facilities in Basra Pipeline to Turkey also corroded and often attacked by insurgents Iraq needed massive water injection to maintain production Wasn’t exploiting natural gas from oil fields

 

Oct 17 Report KRG hoped independent oil pipeline to Turkey would earn more money that what

it got from budget Maliki govt afraid pipeline would lead to KRG independence Natural Resource Min Hawrami said revenue from pipeline would be shared It wasn’t KRG would have to produce 400,000-500,000 bar/day of oil to make up for budget payments Estimates were KRG only had capacity of 350,000 bar/day 140,000 bar/day of that was used internally

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 22 Dana Gas Crescent Petroleum Pearl Petroleum filed arbitration against KRG in UK Wanted

to clarify contracts for Khor Mor and Chamchamal fields Also wanted to know how much Natural Resource Min owed them Companies said they tried to negotiate with ministry first

 

Oct 23 Report Ninewa started talks with oil companies Sep 2013 Ninewa govt gave governor right to

sign oil deals Gov Nujafi met with Exxon Nujafi said Ninewa should work with KRG to develop oil fields in disputed areas of province Angered Baghdad

 

Oct 26 Iran signed agreement to provide natural gas for 3 power plants in Basra Pipeline supposed

to be finished Mar 2014 Would be 2^nd Iranian pipeline to Iraq

 

Oct 27 Report Sep 2012 Baghdad and KRG signed deal for KRG to export 250,000 bar/day in oil

to get budget payments KRG said Baghdad didn’t pay oil companies in region and stopped exports 2014 budget again set export quota for KRG

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 31 Report Dep PM Shahristani against KRG independent oil pipeline to Turkey Said only

            central govt could export oil

Oct 31 Report KRG said it was going to build 2nd oil pipeline to Turkey in 2 yrs Said was needed

            with increased production KRG wanted to export 3 mil/bar/day Didn’t happen

 

Nov 1 Report Turkey said it wouldn’t allow KRG to independently export oil without Baghdad’s

            approval Turkey did allow KRG exports

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Nov 1 Report Energy experts said impossible for KRG to build 2nd oil pipeline to Turkey in 18

            months as claimed Turkey said it wanted 2nd pipeline

 

Nov 4 Parliament’s oil committee said if KRG continued to export oil it would have its share of

budget cut Came after KRG independent oil pipeline to Turkey finished

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Nov 4 Dana Gas had to restructure its debt in 2012 Depreciated its assets in KRG Company owed

money by KRG Natural Resource Min Hawrami talked with some companies about Dana selling its stake in Chamchamal gas field Dana said that was breach of contract Took KRG to arbitration court in UK over money owed it since 07

 

Nov 23 KRG Natural Resource Min Hawrami said that KRG would export oil to Turkey whether

Maliki govt agreed or not

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Nov 28 PetroChina bought 25% share of West Qurna 1 oil field from Exxon Company said it

wanted to focus on KRG instead of del with Oil Min

Nov 28 Report State Dept said it was against KRG independent oil exports to Turkey without

approval of Baghdad Said KRG and Baghdad needed to come to deal over oil

 

Nov 29 Report Turkey and KRG signed deals for oil exports and a new oil and a new natural gas

pipeline KRG said it would export 1 mil/bar/day of oil by 2015 Gas exports would start in 2017 Neither happened

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Dec 16 KRG parliament attacked Dep PM Shahristani Said he didn’t have right to administer oil

policy Said KRG had right to develop and export its own oil Said were creating facts on the ground to build independent pipeline to Turkey

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Dec 27 Report Finance Min audit of KRG oil exports found $10 bil missing Said was probably

from smuggled oil

 

2014

Jan 8 KRG Natural Resource Min said KRG would export 2 mil/bar/day by end of month Said

KRG would export 10-12 mil/bar/day by end of 2014 Didn’t happen

Jan 8 Natural Resource Min said KRG would start exporting oil and buyers could go to Kurdistan

Oil Marketing Organization to make purchases which didn’t exist

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jan 10 Reports Oil Min said it had exclusive rights to export oil and natural gas Said companies

buying oil from KRG would face legal consequences Condemned KRG saying it would start exporting oil to Turkey without Baghdad’s approval

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 23 Report CEO of Eni told Maliki govt it had to streamline red tape or it would leave  BP

stopped approving contracts it signed for Rumaila field Govt stopped issuing visas for BP workers BP said around 100 contractors were released early Feb due to problem

 

Feb 25 Report Angola’s Sonangol decided to withdraw from 2 fields in Ninewa it won in 2009

auction Said lack of security reason Sonangol had 75% stake in both fields

 

Feb 26 Report PUK official said Nechrivan Barzani made secret deal with Turkey over KRG oil

exports Claimed agreed to allow exports if deal with PM Maliki not made

 

Feb 27 Report 3 rounds of talks between KRG and Baghdad over oil exports and budget 2014 draft

budget said KRG to export 400,000 bar/day of oil for Baghdad Maliki govt wanted control over KRG’s independent pipeline KRG had 700,000 govt workers Govt main employer Not been paid for 50 days due to dispute with Baghdad Led to protests in KRG Businessman gave loan to KRG to cover salaries KRG PM Barzani asked Turkey for loans Economist blamed poor planning by KRG for problems KRG didn’t save much money to deal with crises

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 28 Report PM Maliki said he would pay Feb salaries of KRG govt workers if KRG sent its oil

revenues to Baghdad Maliki cut off budget payments in retaliation for KRG’s independent oil policy Caused financial crisis in KRG Feb were protests in Sulaymaniya by govt workers over not being paid Businessman loaned Central Bank of KRG 100 bil dinars to help with crisis

 

Mar 20 KRG said it would export 100,000 bar/day of oil for Baghdad as goodwill gesture Part of

on going dispute over oil exports and budget Came after Baghdad sent some money to Irbil

 

Apr 18 Report 1976 Iraq-Turkey treaty said that Turkey could not sell Iraqi oil without Baghdad’s

approve Put Turkey’s sale of KRG oil into question Iraq has threatened Turkey and oil companies if they buy KRG oil

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Apr 20 Dep PM Shahristani said Iraq aiming for 9 mil/bar/day in production by 2020 Said Iraq

going to develop natural gas Didn’t reach target Gas only partially developed 

 

Apr 23 Dep PM Shahristani said KRG didn’t have right to manage its oil revenues only Baghdad

did Said KRG had not shared any of its oil revenues with Baghdad

 

Apr 25 KRG offered North Oil Company to use its pipeline to Turkey for oil exports

 

Apr 28 Iran signed oil and natural gas deal with KRG

 

May 20 KRG oil started being loaded on tanker in Turkey for first time

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 22 Oil Ministry warned potential buyers not to buy 1^st shipment of independent KRG

oil

 

May 27 Report KRG said its independent oil sales would pay for its govt workers Had to since

Baghdad cut off monthly budget payments to protest KRG’s exports Oil sales not enough to make up for money from Baghdad

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jun 2 Turkey said KRG had right to sell its oil internationally KRG oil pipped through Turkey to

ports for fee

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jun 3 Report After KRG exported 1^st shipment of oil independently oil companies agreed to

provide loans to cover its budget deficit Would lead to growing debt for KRG

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jun 5 Turkey said 2^nd tanker of oil exports by Kurds through independent pipeline was

being loaded KRG said 1^st tanker of independent oil exports had been sold but was actually told to leave Morocco’s waters

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jun 10 Report state owned Turkish Energy Company was in talks with Exxon about its contracts

in KRG Exxon wanted to be assured that Turkey would allow independent KRG oil exports despite objections of Baghdad US rep to Iraq McGurk was working on deal where KRG would export through Oil Min while Baghdad would pay KRG for its exports PM Maliki refused paying KRG Kurds didn’t want to work with Baghdad

 

Jun 11 Rosneft said it would buy 1^st oil tanker full of KRG oil KRG said it would keep all export

revenue Originally said it would share it with Baghdad due to dispute over budget

 

Jun 13 North Oil Company shut down oil to Baiji refinery because of fighting

 

Jun 20 Tanker sold Kurdish oil to Israel exported through KRG’s independent pipeline to

            Turkey

Jun 20 KRG Finance Min from Gorran found KRG Natural Resource Min deposited oil revenue in

Turkish Bank for 1^st time in 2014 Would only make 1 other deposit during yr Turkish bank account supposed to control oil revenue Claimed most oil money put in German bank and then sent to Kurdistan Intl Bank

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jun 26 Report KRG Natural Resource Min Hawrami claimed KRG oil exports would reach 1

mil/bar/day in 2015 Would require deal with Baghdad Said KRG would share revenue None of that happened

 

Jun 28 Report Supreme Court said oil dispute between Baghdad and Irbil had to be resolved

politically Didn’t rule on emergency injunction against independent KRG oil exports Said couldn’t ban exports until they were found illegal Oil Min sued KRG for its oil exports and contracts Went nowhere because KRG didn’t show up in court Asked for arbitration against Turkey that was helping KRG’s exports Threatened legal action against oil companies that work in KRG 2022 Supreme Court finally ruled KRG oil law and contracts unconstitutional

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jul 9 Report IS smuggling oil to KRG Made up to $1 mil/day Stole oil from pipelines storage tanks

oil fields Took over trade by pushing out competitors Peshmerga initially allowed trade then tried to stop it

 

Jul 10 Iran temporarily closed border to KRG tankers smuggling oil Iran bought up to 25% of KRG

oil production

 

Jul 11 Report After Mosul fell KRG took over Kirkuk Bai Hassan and other oil fields in Kirkuk

Told North Oil Company workers they would be paid if worked for KRG

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jul 13 Report Revenues from KRG’s independent oil sales via tankers held in Turkish bank which

KRG couldn’t access

 

Jul 16 KRG said Dana Gas owed it $4.8 mil Dana said KRG owed it Oct 2013 Dana threatened to

get Turkey to seize KRG oil exports unless it was paid Dana went to arbitration in Dec 2013

 

Jul 17 Report KRG started pumping oil from Kirkuk to its facilities Oil Min Luabi objected

Natural Resource Min and KAR group built new pipeline that connects Kirkuk fields to KRG pipelines Oil Min ordered dismantling of valves to new pipelines Peshmerga seized facilities to stop that

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 1 Report KRG paid $75,000/day to keep 3 tankers with its oil out to sea Baghdad threatened

buyers with legal action Led ships to stay at sea US’s Lyndell Basell said it wouldn’t buy anymore KRG oil Was largest buyer in US 1 tanker went to Texas US court said to seize the boat Sat in intl waters in Gulf of Mexico 1 tanker in South China Sea offloaded some of its oil to another ship to get around legal problems Meant sold for low price KRG spent est $5 mil on 3 tankers so far

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 23 KRG Finance Min said it sold 1^st batch of oil exports via 2 tankers for $180 mil

 

Sep 13 Report US trying to cut off IS oil smuggling Turkey hasn’t helped IS could be making $1-

$2 mil/day from oil Oil fields in Iraq producing 25,000-40,000 bar/day

 

Sep 17 Report Water shortages could threaten oil production Water shortages to maintain output

already hurting West Qurna 1 and Zubayr fields Seawater project to boost output stalled Was supposed to be finished in 2013 Exxon was in charge of project Removed in 2012 over disagreements with govt South Oil Company put in charge

 

Sep 21 Report IS smuggled up to 80,000 bar/day in oil Controlled 4 oil fields in Iraq Turkey and

KRG said it was cracking down on smuggling Doubted would be enforced KRG didn’t want gas prices to rise if smuggling ended

 

Oct 16 KRG started producing oil from Kirkuk fields it occupied after Mosul fell Oil sent to

refineries in KRG and then smuggled to Iran and Turkey KRG Natural Resource Min Hawrami said KRG wanted to reach 500,000 bar/day in exports by end of 2041 Could only do that with Kirkuk oil

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 23 Report IS earned up to $1 mil/day from smuggling oil Went through KRG to Turkey KRG

and Turkey denied it bought IS oil 2 peshmerga arrested for buying IS oil

 

Oct 28 Report KRG upgraded oil pipeline to Turkey Was exporting 290,000 bar/day Natural

Resource Min said wanted to reach 1 mil/bar/day by 2015 KRG was connecting two Kirkuk fields it seized after fall of Mosul to its pipeline

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Nov 13 Fin Min Zebari said Baghdad reached budget deal with KRG Baghdad would delivery

monthly payments to KRG again KRG would export 150,000 bar/day of oil in return

 

Nov 25 KRG received 1^st payment from Baghdad for $280 mil as part of new oil-budget deal KRG

needed money to pay its govt workers KRG was to export 150,000 bar/day of oil in return

 

2015

Jan 28 Report Shell signed $11 bil deal to develop petrochemical plant in Basra Attempt to diversify

econ Supposed to be finished in 5-6 yrs Would make Iraq largest petrochemical producer in Mideast Didn’t happen

Jan 28 Report Tanker with 1 mil/bar of KRG oil left US waters Tried to sell to US but failed Came

after Baghdad and Irbil signed new oil deal Was anchored in Gulf of Mexico since Jul 2014

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jan 29 Report Baghdad and KRG argued over budget and oil PM Abadi said KRG didn’t follow

budget to export 250,000 bar/day of oil for Baghdad KRG said didn’t receive monthly budget payments from Baghdad Nov-Dec 2014 KRG cut oil exports for Baghdad KRG spokesman admitted KRG didn’t meet budget quota but said would make up for it by end of 2015 Nov 2014 KRG agreed to export 150,000 bar/day for Oil Min in return for $500 mil/mo in budget payments from Baghdad Exported oil in Nov-Dec 2014 Dec PM Abadi and KRG PM Barzani made follow up deal for 2015 budget that had KRG exporting 250,000 bar/day of oil for Baghdad Dec 2014 KRG Natural Resource Min Hawrami said KRG had right to export oil independently Oil companies in KRG Genel Energy DNO Gulf Keystone owed $250 mil for oil exports KRG also owed money to creditors

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 3 Report Pentagon said oil smuggling no longer main source of IS revenue due to Coalition air

strikes Before summer 2014 was believed IS produced more than 80,000 bar/day of oil earning $1-$3 mil/day Oct 2014 Intl Energy Agency said IS only produced 20,000 bar/day Falling oil prices also affected IS

 

Feb 6 Gulf Keystone said it would stop trucked oil export for KRG until it got paid Last payment was

in Dec 2014

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 10 Report KRG hadn’t paid oil companies since Nov 2014 DNO official said it wouldn’t

investment in KRG until it was paid again Oil Companies were going to sell to local markets rather than export DNO Genel Energy Gulf Keystone owed around $750 mil KRG in financial crisis Couldn’t pay govt workers Natural Resource Min Hawrami still talked about increasing production to 1 mil/bar/day by end of 2015 Could only achieve that by including Kirkuk fields and upgrading KRG ones Gulf Keystone owed $575 mil for bonds Genel Energy owed $500 mil for its bonds

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 16 Report Iraq-Baghdad budget deadlocked KRG PM Barzani went to Baghdad Budget said if

either side failed to follow through than deal annulled Baghdad did not send budget payments to KRG in Jan and Feb because budget not published yet KRG was to export 250,000 bar/day in oil for Baghdad and sell another 300,000 bar/day from fields it occupied in Kirkuk KRG only exported 150,000 bar/day for Baghdad and almost all of that from Kirkuk KRG focused upon its own independent oil exports KRG said would make up quota with later exports Never did PM Barzani said Baghdad would only send $300 bil in Jan Demanded $1 bil Called Iraq bankrupt KRG stopped making public any info about its oil industry

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 23 KRG Natural Resource Min Hawrami gave press conference Said Jan KRG agreed to export

550,000 bar/day of oil for Baghdad Would be 250,000 bar/day from KRG and 300,000 bar/day from Kirkuk fields In 2014 KRG agreed to export 150,000 bar/day for Baghdad in return for $500 mil/mo Only got paid twice Hawrami denied KRG not meeting quota Met with PM Abadi Said Baghdad was side having problems with its exports Then said KRG was only exporting 350,000 bar/day but would increase to 650,00 bar/day later in yr to meet quota Never did

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 25 Report Gulf Keystone threatened to sell its holdings in KRG because it hadn’t been paid

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 27 Report Tanker with KRG oil that was turned away from US docked in Israel Sold oil there

 

Mar 4 Report KRG got 1^st payment form 2015 KRG budget Said it would pay for govt workers KRG

supposed to export 550,000 bar/day of oil in return KRG only sold 145,000 bar/day in Jan Increased in Feb but didn’t meet quota KRG needed $708 mil/mo just for govt salaries Also in debt for borrowing after PM Maliki cut off budget payments in 2014 KRG Finance Min said KRG had 1.4 mil govt workers 682,000 working 718,000 retired 1 in 3 citizens relied upon KRG Natural Resource Min said it would increase exports to meet export quota by end of 2015 Didn’t

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Mar 19 Report KRG supposed to export 550,000 bar/day of oil for monthly budget payments from

Baghdad Baghdad said KRG only exporting 135,000 bar/day KRG said it was exporting 400,000 bar/day KRG Natural Resource Min said KRG should not have to follow daily export quota but it should get monthly payments

(Musings On Iraq Iraq Reaches Another New High In Oil Exports As Budget Deal With Kurds Breaks Down)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Mar 26 Report KRG received 2^nd budget payment from Abadi govt but lower than expected KRG

still not meeting its oil export quota Was supposed to export 375,000 bar/day during 1^st qtr 2015 Only exported 153,000 bar/day Jan 306,000 bar/day Feb KRG not getting enough money from Baghdad to meet its costs Oil companies in KRG owed $750 mil

(Musings On Iraq Iraq Reaches Another New High In Oil Exports As Budget Deal With Kurds Breaks Down)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Apr 11 Report IS lost many of the oil fields it controlled in Iraq Oil prices also dropped Nov 2014

UN est IS making up to $1.6 mil/day from oil Was selling oil in Turkey IS looking into other financing like smuggling cigarettes Selling artifacts

 

May 12 Report Rumaila oil field had budget cut by $1 bil Oil production not grown as fast as

predicted Was talk of Iraq producing 13 mil/bar/day 2015 Iraq was producing 3.7 mil/bar/day Oil Minister said early predictions unrealistic Said if Iraq reached 6-7 mil/bar/day by 2020 would be good Didn’t meet that mark Infrastructure years behind schedule

 

May 24 KRG claimed it met its oil export quota set in 2015 budget and should get monthly

payments from Baghdad Pres Barzani said if didn’t KRG would export oil independently KRG was not meeting its quota

(Musings On Iraq Strains and Stresses In The Kurdish-Iraq Central Government Budget Deal)

(Musings On Iraq Iraq Reaches Another New High In Oil Exports As Budget Deal With Kurds Breaks Down)

 

Jun 1 Pres Barzani said KRG would start independent oil exports if Baghdad didn’t

            deliver KRG’s share of budget KRG was not meeting its oil export quota under budget

(Musings On Iraq Strains and Stresses In The Kurdish-Iraq Central Government Budget Deal)

(Musings On Iraq Iraq Reaches Another New High In Oil Exports As Budget Deal With Kurds Breaks Down)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jun 5 Report Norway’s DNO owed $500 mil-$1 bil by KRG for non-payments for oil production

and exports

(Musings On Iraq Strains and Stresses In The Kurdish-Iraq Central Government Budget Deal)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Jun 5 Oil Min Mahdi said oil prices would reach $75 per barrel by end of year Iraq

            crude dropped to $29 per barrel in Dec

 

Jun 9 Iraq revised projected oil production to 5.5-6 mil/bar/day by 2020 Before predicted 8.4-9

mil/bar/day Didn’t reach either mark

 

Jun 10 DNO said couldn’t sustain investment or oil production in KRG unless it was paid KRG

behind payments due to budget dispute with Baghdad over oil

(Musings On Iraq Strains and Stresses In The Kurdish-Iraq Central Government Budget Deal)

(Musings On Iraq Iraq Reaches Another New High In Oil Exports As Budget Deal With Kurds Breaks Down)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jun 21 KRG stopped exporting oil for Baghdad due to budget dispute KRG was not meeting its oil

export quota

(Musings On Iraq Strains and Stresses In The Kurdish-Iraq Central Government Budget Deal)

(Musings On Iraq Iraq Reaches Another New High In Oil Exports As Budget Deal With Kurds Breaks Down)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jun 24 Report KRG est of reaching 1 mil/bar/day in oil exports not realized KRG independent

pipeline to Turkey opened year ago KRG not making enough to pay oil companies Also had large bills for govt workers and war vs IS Oil companies turned to selling oil to KRG domestic market but didn’t make enough Companies stopped plans for new investment Cut staff

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jul 9 Report KRG trying to control oil sales in Kirkuk Took oil production from North Oil Company

and shipped it to Turkey via KRG pipeline KRG reduced its exports for Baghdad at same time Oil Min Abdul Mahdi said KRG wouldn’t get its monthly budget payments until KRG fulfilled its oil export quota

(Musings On Iraq Iraq Reaches Another New High In Oil Exports As Budget Deal With Kurds Breaks Down)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jul 13 Genel Energy said it would stop exploration work in KRG because not paid Said it was owed

$378 mil

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jul 19 KRG said it would not sell any oil for Baghdad through its oil pipeline to Turkey Had an oil

export quota in budget

(Musings On Iraq Iraq Reaches Another New High In Oil Exports As Budget Deal With Kurds Breaks Down)

 

Jul 24 IS was making far more money from oil than originally estimated Came after US raid in Syria

that found IS papers on finances US originally est IS making $8-$10 mil/month from oil sales New docs showed IS made $40 mil in one month Coalition air strikes tried to destroy business

 

Aug 3 KRG Natural Resource Min said it would pay expenses of oil companies operating in region

Said it would start paying past bills start of 2016

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 18 KRG parliament finance comm said over $800 mil in oil revenue missing since Jul Said

Natural Resource Min didn’t put money in Finance Min bank account as it should have

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 23 Report 2014 KRG tried to export oil internationally via tankers Tanker to US stopped by

lawsuit filed by Oil Min Stopped KRG effort KRG now selling via oil traders who sold to Israel Italy France and more KRG increased sales after export deal with Baghdad collapsed Since May KRG sold 40 mil/bar

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 26 Report KRG pipeline off line 2 days in Aug Posed financial threat to KRG Outages cost

KRG avg $246 mil Natural Resource Min signed deals with oil traders to get $850 mil/mo advance payments on exports KRG fallen behind schedule in those deals Contracts also said KRG would sell oil for $50/bar Prices are now below $50 Oil prices dropped since 2014 Meant KRG would have to export more oil to fulfill contracts but didn’t KRG pipeline hit by smugglers and bombings Natural Resource Min blamed PKK KRG thought deals with oil traders would be better than working with Baghdad Didn’t work out Lost monthly budget payments from Baghdad as a result KRG owed $1.6 bil to traders but wouldn’t have to start paying it until 2016 Gorran accused Natural Resource Min of mismanagement

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 27 Gulf Keystone said KRG owed it $283 mil for oil sales and other costs KRG said it would

start regular payments to oil companies in Sep 

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Sep 15 Common Seawater Supply Facility Project to pump sea water into oil wells to maintain

pressure for oil production 7 yrs behind schedule Supposed to boost production by 4.1 mil/bar/day Not expected to be finished until 2020 2015 Oil Min owed companies $8 bil for project Had paid $9 bil so far Project planned in 2009 Exxon signed contract for project 2010 Suspended 2011 when Exxon signed oil deal with KRG South Oil Company given project in 2012 Maliki govt asked foreign firm to do project in 2014

 

Oct 6 Report KRG Natural Resource Min Hawrami coming under pressure for mismanagement

and corruption 2 KRG MPs accused him of sending fuel to company that didn’t exist Opposition attacking Harwami to attack Pres Barzani KRG owed oil companies $1.5 bil for oil exports Oil companies took KRG to London Intl Arbitration court over not being paid KRG borrowed billions to help with financial crisis caused by war with IS and budget/oil dispute with Baghdad Sep Finance Min took control of Turkish bank account where Natural Resource Min put oil revenues in Only had $14 mil in it Min claimed it put money in German bank and then to KRG bank

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 15 Immediately after Baiji refinery liberated Hashd began looting facility and selling off

equipment to Iraqi and Iranian businesses

 

Oct 20 Genel Energy said it was cutting investment in KRG until it was paid regularly

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 23 Report US thought IS oil revenues down 66% due to air strikes US est IS earned $500 mil/yr

Meant early est IS making $1.4 mil/day were off

Oct 23 KRG paid Gene Energy $25.5 mil for oil exports KRG paid 6% of $409 it owned to oil

companies as of Sep 2015 Genel Energy said it was cutting its investment in KRG until got paid more 

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 29 Report KRG dropped out of budget deal in Jun thought it could make more money from its

independent oil exports Didn’t work out KRG was not meeting its export quota in budget because focusing upon independent sales Natural Resource Min increased revenues but built up debts to oil traders Fluctuations in production also meant money was up and down Oil traders gave KRG $850 mil/mo in advances for 525,000 bar/day in exports KRG only produced half that Had to use oil fields it seized in disputed areas after Mosul fell Meant future of oil production caught up in legal and political problems KRG took advances from oil traders when oil prices were declining Eventually produced 550,000 bar/day but by then wasn’t enough to pay back oil traders KRG also sold oil at discount because of legal issues with Baghdad KRG spent most of its oil revenue to pay debt By end of 2014 KRG owed $1.1 bil to oil traders 2015 KRG owed up to $1.8 bil Oct KRG was making $160 mil/mo Needed around $700 mil/mo just for govt salaries and pensions 2016 draft budget said Baghdad would deduct money from KRG payments if it didn’t pay for oil exports it owed Even if KRG agreed to new budget couldn’t meet export quota because owed sales to oil traders Debt meant KRG late to pay oil companies who reduced operations as a result KRG owed $3 bil to oil companies Turkish pipeline KRG used also often bombed which shut down exports for long periods

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Oct 29 Genel Energy sold 20% of 1 of its oil fields in KRG for $10 mil Oct Genel Energy said it

was cutting investment until KRG paid it regularly

Oct 29 Sulaymaniya govt passed law that Arabs couldn’t buy property there Claimed too many

Arabs had moved to province changing demographics

 

Nov 11 Iraq-Iran signed 2^nd natural gas deal Iran would deliver gas to Basra for 6 yrs to fuel power

plants

 

Nov 22 Report Dana Gas won vs KRG in British court KRG Had to pay it $100 mil Dec 2014

company won arbitration case against KRG over its contract and payments for oil sales

 

Nov 29 Report UK court ordered KRG to pay Dana Gas $1.98 bil 07 KRG gave Dana Gas and

Crescent Petroleum 25 yr deal to develop Khor Mor and Chamchamal fields Companies complained they were underpaid for natural gas from Khor Mor Oct 2013 filed suit in UK court vs KRG Came after Dana Gas won another case in UK that ordered KRG to pay $100 mil

 

Dec 8 Dana Gas Crescent Petroleum Pearl Petroleum said KRG still owed them more than $11 bil

Filed lawsuit vs KRG in 2016 over matter 2015 UK court ordered KRG to pay Dana Gas and Crescent Petroleum $1.98 bil KRG didn’t pay

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Dec 28 Report US air strikes largely shut down IS oil industry in Iraq Had up to 2000 oil workers

2014-15 IS was making as much as $40 mil/mo from oil sales Taxed transportation of oil products Oct Op Tidal wave II started targeting industry Still held Qayara field and refinery in Ninewa

 

2016

Jan 8 Report KRG building natural gas pipeline to Turkey Would connect to Bai Hassan field

 

Jan 19 Report Oil Ministry told oil companies to cut their budgets because govt couldn’t pay them due

to drop in oil prices Would drive some western companies to eventually leave Iraq

 

Feb 1 Report KRG said it would pay oil companies in KRG constantly in 2016 Started payments in

Sep 2015 after not paying them in months Led to companies cutting investment and development Banks didn’t think KRG had money to pay companies

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 5 Report shares in Genel Energy dropped 13% in Jan on news that production and revenue in

KRG could fall in 2016 KRG was making spotty payments to oil companies They reduced investment as a result

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 17 KRG accepted PM Abadi’s proposal that export oil for Baghdad and receive monthly

budget payments in return for govt workers

(Musings On Iraq Kurdistan and Iraqi Central Governments Still Arguing Over Budget)

 

Feb 21 Rosneft signed $2.1 bil deal with KRG Provided KRG with cash to settle lawsuits which

Dana Gas and Crescent Petroleum won against region Paid companies $1 bil and restructured other $1.24 bil it owed them

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 29 Auditor report said reserves at Taq Taq oil field in KRG operated by Genel Energy were much

smaller than officially stated

 

Mar 5 KRG oil sector running into problems Mar Genel Energy downgraded reserves and production

estimates leading to sell off of stocks Operated KRG’s main oil field Taq Taq Company almost cut in half KRG’s estimated oil reserves from 683 mil/bar to 356 mil/bar Problems with water management also lowered future production at Taq Taq Production at Taq Taq was estimated to decline in future KRG pipeline to Turkey regularly bombed Production at other major field Tawke declined because DNO wouldn’t invest because KRG wasn’t paying it regularly Oil companies owed $3 bil Some companies in heavy debt KAR owed around $1.1 bil by KRG KRG believed to be $26 bil in debt twice as big as economy KRG made deals with oil traders to be pre-paid for exports Debt to oil traders likely to increase Jan KRG exported $400 mil in oil but owed oil traders $250 mil

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Mar 8 Report KRG pipeline to Turkey down for 3 wks exacerbated KRG's budget problems Needed

$730 mil to pay govt workers Owed oil companies $70 mil Jan only earned $650 mil 2nd-1/2 of 2015 KRG earned avg $628 mil/mo from oil exports Signed pre payment deals with oil traders KRG promised min amount of oil exports for oil traders to receive payments If KRG didn’t meet minimum traders only paid for what they received and KRG had to pay them for oil not delivered Drop in oil prices and pipeline outages led to cut back in payments by oil traders to KRG at least 4 mos behind paying govt workers which were already cut 15-75%

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Mar 9 Report Oil Min said it wanted to crease oil production to 9 mil/bar/day by 2020 Didn’t happen

 

Mar 14 Oil Ministry ordered North Oil Company to stop sending oil to Kurdish pipeline to Turkey

Part of on going dispute between Baghdad and KRG over oil

Mar 14 Report KRG stopped sending oil money to Baghdad and Abadi govt stopped sending

budget payments to Irbil KRG in financial crisis Signed contracts with oil traders to deliver set amount of oil each month which it didn’t meet 2014 Kurds took control of Kirkuk oil fields after ISF fled due to IS Kurds kicked out North Oil Company and had Kurdish company run fields

(Musings On Iraq Collapse Of Iraq’s Kurdish Oil Economy)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Mar 17 Gulf Keystone said KRG owed it $178 mil for exports and costs Reported over $100 mil in

losses in 2015 KRG unable to pay due to budget problems after Baghdad cut payments and bad contracts

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Mar 30 Report Unaoil paid bribes to Iraqi officials to get its clients contracts Hosted Oil Ministry

official and said ministry should charge inflated prices on products so they could steal the money Oil official agreed Every drum of oil bought by Weatherford Unaoil involved kickbacks to senior officials Officials told Unaoil about upcoming deals so that clients could win them Unaoil made payoffs to Eni and BP Paid $1 mil bribe for Petrofac and SBM to win contract at Gharraf oil field

(Musings On Iraq interview with Special Inspector General for Iraq Reconstruction Stuart Bowen on corruption in Iraq)

(Musings On Iraq interview with anti-graft US official Vincent Foulk)

 

Mar 31 Dana Gas won lawsuit against KRG for nonpayment Court ordered KRG to pay company

$121 mil for oil production 2015 Dana Gas won 2 cases against KRG for $1.96 bil in unpaid invoices KRG unable to pay due to budget and oil disputes with Baghdad and bad contracts

 

Apr 1 PM Abadi’s nominee for Oil Minister in new technocratic cabinet withdrew

            name saying no consensus on changes to govt

(Musings On Iraq A Review Of Iraq Premier Abadi’s Reform Program Interview With Reidar Visser)

(Musings On Iraq Complaints About Iraq PM Abadi Undermine His Cabinet Reshuffle)

(Musings On Iraq Candidates For Iraq Cabinet Reshuffle Withdrawing)

 

Apr 20 Report 21 workers including fmr director general of North Oil Company arrested Used

front company to steal money Front company sold equipment to North Oil for millions when only cost thousands Got $6 mil contract in 2014

(Musings On Iraq interview with Special Inspector Gen for Iraq Reconstruction Bowen on corruption in Iraq)

(Musings On Iraq interview with fmr anti-graft official Vincent Foulk on corruption in Iraq)

 

Apr 27 Report Oil companies in KRG running into problems Gulf Keystone running out of money

to pay its debts due to low oil prices and irregular payments by KRG

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 13 Report Oil companies told Oil Ministry development projects would be delayed if

Baghdad insisted on spending cuts Oil Ministry asked companies to cut their budgets for 2^nd yr due to low oil prices BP Shell Lukoil all complained about request

 

May 26 Report KRG oil sales went down in Apr Meant could only make partial payments to oil

companies Feb KRG started regular payments to companies to restore confidence after period where couldn’t pay them Hadn’t paid govt workers KRG debt growing Problems started when KRG got into budget and oil dispute with Baghdad

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 31 Genel Energy found reserves at Taq Taq field in KRG only half what it estimated Company

lost $1 bil as shares dropped

 

Aug 5 Oil traders cut advances to KRG from $127 mil in Jun to $35 mil in Jul Cut payments to oil

companies from $30.3 mil in Jun to $18.1 mil in Jul KRG made $461 mil in Jul Needed $460 mil just to pay govt salaries 

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 11 Report Jul-Aug Iraq reached deals with BP Shell Lukoil to restart investments in oil fields

to boost oil production 2015 Iraq asked oil companies to cut investment due to economic crisis caused by IS Couldn’t pay companies for work

 

Aug 18 North Oil Company resumed sending oil to Turkey via KRG pipeline Stopped 5 months ago

New Oil Minister confirmed with backing of Kurds Part of US-Baghdad-KRG deal

 

Aug 22 Report Korea National Oil Corp pulled out of oil field in KRG Invested $204 mil from 08-16

Returns were too low

 

Sep 1 KRG delivered oil to State Marketing Organization for Baghdad to sell In return North Oil

Company could export oil through KRG pipeline to Turkey

 

Sep 8 PUK leader Hero Ibrahim wrote PM Abadi asking him to end new KRG-Baghdad oil deal

where Baghdad would use KRG’s Turkish pipeline and KRG would export oil for Baghdad Benefited KDP more than PUK

Sep 8 MP from KRG natural resource comm said 30,000 bar/oil smuggled by PUK out of Kirkuk to

Iran

 

Sep 22 Report Gulf Keystone not paid by KRG for Jul and Aug oil sales

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Sep 26 Report 6 of 7 oil companies working in KRG owed money Gulf Keystone said non-payment

and oil prices biggest concern of working in KRG Genel Energy and Oryx Petroleum not paid Jul-Aug DNO not paid for Jun oil sales Gas Plus Kalakhan only company paid in Jul but not paid in Aug Was big drop in oil prices and KRG revenue which led to non-payments Feb Natural Resource Min said it would make regular payments to companies plus 5% for past debts Didn’t happen As ran into problems ministry reported less on oil

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 3 US envoy to Iraq McGurk helped negotiate Baghdad-KRG oil deal Allowed for cooperation in

war vs IS KRG was to export 150,000 bar/day for Baghdad and revenues split

 

Oct 7 Report Oil traders stopped giving advances to KRG for its oil exports KRG exports up

because of new deal with Baghdad Jun-Sep traders advanced KRG $272 mil Aug KRG paid oil traders $188 mil more than 30% of its oil revenue KRG started getting advances from traders in 2014 KRG cut govt payrolls 1/3 Fell behind paying oil companies

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 26 Early 2015 IS was producing 50,000 bar/day in oil Earned $40-$50 mil/mo Industry now

devastated by Coalition air strikes and lost territory Jun 2016 US destroyed IS’s oil ministry HQ in Mosul Aug Peshmerga killed IS oil minister in raid with US Oil professionals quitting working for IS Oct 2015 US started Op Tidal Wave II to conduct air strikes on oil industry Went after production areas and middlemen that bought and sold IS oil IS had to lower prices as a result to attract new middlemen IS tried to spread out network to avoid attacks Buried pipelines and storage tanks underground

Oct 26 KRG paid Gulf Keystone $15 mil for Aug exports Natural Resource Min tried to pay

invoices from oil companies for May Jun Jul Aug Gulf Keystone had to restructure financing to stay in business due to lack of KRG payments

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Nov 28 Report Shell was thinking of withdrawing from oil deals in Iraq Low oil prices meant profits

were down Shell paid in oil and told to cut production Said it was still interested in natural gas

 

Dec 4 Parliament accepted Baghdad-KRG deal KRG would export 550,000 bar/day of oil in return

for paying KRG salaries

 

Dec 5 KRG Natural Resource Min Hawrami said KRG wouldn’t follow OPEC production quotas set

for Iraq

 

Dec 6 6^th Annual Kurdistan-Iraq Oil and Gas Conference in UK DNO head said had been high profile

misses and disappointments for KRG Said realities of KRG oil industry didn’t meet expectations Said working in KRG more difficult than thought Said too many risks with security and economic crises Said KRG had to make regular payments to energy companies Natural Resource Min Hawrami angered that DNO was publicly criticizing KRG

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Dec 6 Report Exxon was going to leave 3 of its 6 blocks in KRG Since 2014 oil companies have

left 19 blocks in KRG

 

Dec 20 Report 5 yrs after Exxon signed oil deal with KRG didn’t find what it hoped for 3 oil and

gas projects didn’t have large reserves Adviser hired by Exxon promised Kirkuk size oil field Exxon left 3 contracts Still 3 contracts in fields that only had modest prospects

 

2017

Jan 9 Report Exxon made big gamble investing in KRG US was opposed State Dept told Exxon it

should wait until oil law passed Baghdad threatened to end deal with Exxon Company unhappy with small profits it was making in Basra End of 2011 Baghdad owed it $1 bil

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jan 23 Report Head of South Gas Company said wanted to triple exports of liquified petroleum gas

(LGP) and double export of gas condensates LGP exports supposed to go from 30,000 tons to 100,000 tons in 2017 Gas condensates from 200,000 cubic meters to 400,000 cubic meters Iraq started exporting gas liquids in 2016 Most gas is still flared

 

Jan 31 Report Parliament restarted investigation into oil corruption Australian paper reported

billions in bribes made by Unaoil Group High level officials in Oil Min VP Shahristani and Oil Min Luaibi implicated

 

Feb 1 Report Production at Taq Taq oil field down 75% in 2 yrs Sign of problems with KRG oil

industry Taq Taq used to be #1 producer in KRG Now down to #3 Companies cut back investment in KRG because not paid Feb 2016 Natural Resource Min said companies would get monthly payments Didn’t happen Jan 2017 Genel Energy said it was owed $57 mil for 2016 production

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 5 Report MP said 100,000-300,000 bar/day of oil stolen from Basra by fixing meters VP Maliki

formed commission on smuggling in Basra Never reported anything

 

Feb 14 Report Dana Gas won case against KRG in London court over right to be paid for liquid gas

production Court ordered KRG to pay $12 mil for production from 2015-16 KRG refused pay saying project behind schedule Jul 2015 Dana Gas won contractual case against KRG for $1.96 bil in unpaid invoices

 

Feb 28 Genel Energy reduced its est reserves at KRG’s Taq Taq field from 172 mil/bar down to 59

mil/bar

Feb 28 Report IS used to control 3 oil fields in northern Iraq Had 600 small refineries that produced

millions of dollars worth of oil products for group Brought in hundreds of experts from around world and even offered competitive salaries to them according to captured IS records Took oil equipment from Syria and moved it to Iraq Used many former Oil Min workers 2^nd half of 2015 US picked up attacks on IS oil industry

 

Mar 2 Report PUK forces entered North Oil Company offices in Kirkuk Head of PUK office in

Kirkuk said was sign to PM Abadi that Kirkuk’s oil was for Kirkuk Gave Baghdad ultimatum to stop exporting oil from province

 

Apr 7 Report Rosneft agreed to pay KRG $1 bil in advance to buy KRG oil from 2017-19 KRG

desperate for cash due to oil and budget dispute with Baghdad Would increase KRG’s debts

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jun 9 Report Iraq wanted to triple refining capacity by 2021 from 500,000 bar/day to 1.5 Previous

attempts failed 2012 Iraq said it would be processing 760,000 bar/day by start of 2013 Didn’t happen

 

Jun 24 Report Oil Min filing lawsuits against KRG independent oil exports

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jun 29 Canadian court issued warrant to seize tanker with KRG oil after lawsuit by Iraq

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jul 3 Canadian court issued order to seize oil tanker with KRG oil off its coast Was due to lawsuit

filed by Iraq against KRG for independent exports being illegal

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 11 IS still smuggling oil and refined products Had 1600 makeshift refineries in north Iraq

2014 IS seized large oil fields in Iraq and Syria US Op Tidal Wave II targeted IS oil industry Was largely successful 2014 IS exporting oil from Ajeel field Aug Coalition airstrikes hit pumping station at field Limited use Mar 2015 Hashd took Ajeel field IS set fire to 9 wells as retreated Oct 2016 Peshmerga and ISF took Qayara oil field in Ninewa IS set fire to 20 oil wells Burned for 8 months Aug 2016-Jul 2017 IS attacked Bai Hassan field in Kirkuk and Ajeel to deny it to govt Airstrikes forced IS to use small refineries and sell to locals

 

Aug 23 Oil Min approved Shell selling its share of Majnoon oil field Shell couldn’t work out details

over investment budget and production Part of major oil companies withdrawing from Iraq

 

Aug 24 DNO and Genel Energy reached agreement with KRG over outstanding debt and oil export

payments DNO got larger stake in Tawke field Genel Energy would receive more revenues

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 31 Report KRG settled debt to oil companies over natural gas Would pay $1 bil to Pearl

Petroleum Company would drop claims for $26.5 bil in damages Said it would triple gas production in 2 yrs UK court of Intl Arbitration granted Pearl $2.239 bil in damages in 2015 and 2017

 

Sep 12 Shell said it would focus on Basra Gas Company after decision to withdraw from Majnoon

oil field May Oil Ministry penalized Shell for not reaching production target Shell said that impacted business and decided to withdraw

 

Sep 18 KRG signed deal with Rosneft for natural gas pipeline to Turkey worth $1 bil Would

eventually be connected to Europe Didn’t happen

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Sep 25 Rosneft promised $1 bil to develop KRG’s natural gas 3^rd deal between Rosneft-KRG

 

Sep 26 PM Abadi said if KRG released info on oil revenue placed oil under Baghdad control KRG

could get share of budget grants loans

 

Sep 30 Iraq-Iran formed committee to discuss building pipeline to deliver Kirkuk oil to Iranian

refinery never happened

 

Oct 14 KRG Natural Resource Min said KRG wanted 17% of budget Baghdad to pay all govt

workers Peshmerga police Asayesh and their pensions Get 17% of oil products

 

Oct 18 Report KRG lost half its oil production Kurds took Bai Hassan and Avana oil fields in

Kirkuk in 2014 after Mosul fell Produced 280,000 bar/day of oil Was 45% of KRG production

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Oct 18 Rosneft signed deal for 5 oil blocks in KRG

 

Oct 19 Oil Min repeated warning that oil companies could not sign oil deals with KRG

 

Oct 22 Report Up to 2013 KRG growth mostly fueled by money from Iraqi budget When Baghdad cut off budget payments in oil dispute KRG fell into debt to local banks Turkey oil companies and traders 2014 KRG took oil fields after Mosul fell Became dependent upon Kirkuk oil fields KRG lost all of those except for 1 after independence referendum Production at Taq Taq oil field declined after reserves were grossly inflated KRG was earning $300 mil/mo from oil Costs were $700 mil/mo KRG believed it would control Kirkuk oil fields for good Stopped developing its own fields as a result

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 31 Report KRG oil dependent Produced 610,000 bar/day of oil Exported 560,000 bar/day

before independence referendum Lost 280,000 bar/day of production from 2 fields in Kirkuk Left with 327,000 bar/day in production 280,000 bar/day in exports mostly from 2 fields Reduced investment in oil Had payment problems Low oil prices Problems with environment all limited KRG oil development KRG $20 bill in debt Signed deal with two oil trading companies Owed $1 bill to 1 trader Russia invested $4 bill in oil and gas 85% of KRG budget comes from oil When KRG had money squandered it rather than invested in economy Non-oil economy poorly developed and lacked infrastructure

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Nov 3 Report Rosneft signed deals with KRG Kurds thought it meant Russian support for KRG

independence Russia wanted to expand influence in Mideast Rosneft gained de facto control of KRG’s oil and gas infrastructure and finances Rosneft paid $1.5 bil for 3-5 yrs of future oil exports After KRG lost Kirkuk oil fields production decreased 430,000 bar/day Meant couldn’t payback Rosneft KRG had $21 bil debt Rosneft also signed deal for 5 oil and gas blocks with KRG which were then lost by central govt Rosneft got 60% ownership of KRG-Turkey oil pipeline and said it would invest $1.8 bil to increase its capacity Rosneft wanted tro build natural gas pipeline from KRG to Turkey

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Nov 14 Rosneft paid KRG $1.3 bil advance on oil exports Would put KRG into debt that it couldn’t

payback

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Dec 20 Report KRG exported oil on credit Glencore advanced KRG $800 mil for oil exports to Turkey Rosneft advanced KRG $1.3 bil and $2.7 bil Litasco advanced KRG $800 mil KRG reportedly owed Vitol just under $1 bil Owed Trafigure $500 mil Owed Turkey $2 bil plus another $1.4 bil in transit fees for using Turkish pipeline Jan KRG borrowed $500 mil without informing parliament or ruling parties Report that $50 mil of loan went into a private account and Dep PM Talabani got 10% signing bonus Govt workers unpaid or partially paid for months due to KRG financial crisis

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

2018

Jan 18 Report Iraq signed memo of understanding with BP to work on Kirkuk oil fields Oil Min wanted to boost production

 

Jan 22 Iraq signed deal with US company to develop natural gas in Basra Oil Min Luaibi said he

wanted to stop flaring natural gas at oil fields by 2021 Didn’t happen

 

Jan 30 KRG signed 10 yr deal with Pearl Petroleum to increase natural gas production at Khor Mor

field in Sulaymaniya

 

Feb 15 Oil Min Luabi said wanted to raise oil production to 7 mil/bar/day by 2022 Didn’t happen

 

Mar 23 Shell sold stake in West Qurna 1 field in Basra to Japanese company Start of major oil companies withdrawing from Iraq

 

Apr 2 Report Salahaddin councilman accused Hashd of smuggling oil from Tuz Kharmato to Iran Hashd denied story

 

Apr 10 Iraqi court said it would hear case against KRG’s independent oil contracts Filed by Baghdad in August 2012 KRG never formally accepted case holding up process 2022 court would rule oil contracts illegal

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Apr 13 Baiji refinery restarted work after 4 years Extensively damaged during war vs IS Then looted by Hashd after liberated

 

Apr 14 Kurdistan Islamic Group said KRG had turned over its oil revenue to Baghdad as required by 2018 budget

 

Apr 19 Report Oct 2017 Rosneft told Oil Min that Baghdad was not helping company in south Iraq Said it would sign deal with KRG instead Rosneft took over ownership of KRG pipeline to Turkey for $1.8 bil

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Apr 25 Oil Ministry held auction for 11 oil and gas fields 6 fields won winning bids Was supposed to happen in Jun but Oil Min Luaibi changed date Some thought he did it for political reasons because he was running for parliament

(Musings On Iraq Another Successful Oil And Gas Field Auction In Iraq)

Apr 25 Report Jan 2018 KRG published audit of its oil industry Didn’t have field production as promised Said $700 mil-$2 bil had been paid to 3^rd parties with no explanation 2007 KRG parliament said 4 bodies would be created to manage oil but never operated KRG was supposed to work with company to publicize its oil revenues but didn’t Jan 2014 Natural Resource Min said it would start independent oil exports and potential buyers should go to Oil Marketing Org but didn’t exist 2014 KRG began taking advances on its oil exports from 5 oil traders and companies

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 3 Report Exxon and PetroChina reached preliminary terms on South Integrated Water Project

to inject water into southern oil fields to help production Talks lasted 3 yrs Exxon would later drop out

 

May 25 Rosneft announced agreement with KRG to develop oil and gas infrastructure including

natural gas pipeline

 

Jun 27 Shell left Majnoon oil field and West Qurna 1 Said wanted to focus on gas projects

 

Jul 12 Oil Min Luaibi said govt had come up with response to protests promising 10,000

            jobs in oil sector and investment in water electricity and health care

(Musings On Iraq Protests Continue Across Southern Iraq And Spread To Baghdad)

 

Aug 27 Report Baiji refinery being rebuilt Part of complex finished Was damaged during war with

IS then looted by Hashd

 

Sep 29 Nasiriya field began producing natural gas

 

Oct 8 KRG found smuggling oil to Iran again

Oct 8 Report Head of Zubayr security comm said oil smuggling rampant in Basra People

arrested for smuggling and then released Smuggling done by ruling parties with ministries and ISF

 

Oct 18 Out going Oil Minister Luabi transferred 9 state oil companies to new Iraq National

Oil Company that he heads PM Designate Mahdi warned that his govt would cancel any orders it felt illegal

(Musings On Iraq Iraq Starts Reviving National Oil Company)

Oct 18 Report 2017 Iraq produced 680 mil/sci/day in dry gas 1^st qtr of 2018 produced 803

mil/scf/day

 

Oct 20 Oil Ministry reversed its order to transfer 9 state oil companies to new Iraq National

Oil Company after PM Designate Mahdi warned against it

(Musings On Iraq Oil Minister Reverses Transfer Of 9 Companies To National Oil Company He Will Head)

 

Nov 15 Oil Ministry began sending oil through KRG pipeline to Turkey once again after year

hiatus

(Musings On Iraq Kirkuk Oil Fields And US Pressure Lead Iraq To Agree to Use Kurdish Pipeline Again)

 

Nov 29 Report Foreign investors said bureaucracy corruption block achieving its energy

goals Executives said takes up to 8 wks for an employee to get a visa to enter Iraq

 

Dec 24 Iraq in talks with Exxon and China National Petroleum Company over Southern

Integrated Project since 2015 Some parts of project been discussed for 10 years with little accomplished Included oil storage pumping export infrastructure in Basra to boost capacity and sea water project to inject water into wells

 

Dec 30 Report KRG released audit report of oil industry Last 6 mo of 2017 KRG earned $3.8 bil

from oil After expenses and debt payments only received $1.8 bil KRG advanced $83 bil for future oil sales

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

2019

Jan 13 PUK official said 30,000 bar/day smuggled from Kirkuk oil field to Sulaymaniya

 

Jan 23 Report Supreme Court ruled articles of Iraqi National Oil Company law unconstitutional

Cabinet would have to amend bill

 

Jan 31 Report 2 ops conducted to break up oil smuggling in Kirkuk Most smuggling connected to

political parties and Hashd Also protected by ISF Iraqi forces often forced way into smuggling rings rather than stopped them 1 op broken up smuggled oil to Sulaymaniya ISF charged $3000 per tanker truck Hashd now involved in smuggling and working with PUK

 

Feb 8 UK investigation found Petrofac paid $730 mil in bribes to win contracts in Iraq Head of

sales pleaded guilty to 11 counts of bribery

 

Feb 26 Report Oil Min Ghadban said KRG unlikely to meet its quota of 250,000 bar/day of oil

exports for Baghdad in return for monthly budget payments Said because KRG sold its future sales to companies like Rosneft for $3 bil loan

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Mar 6 Report Crescent Petroleum and Dana Gas signed 20 yr deal to develop natural gas in

KRG Supposed to boost production 63% in 2 yrs Supposed to boost production at Khor Mor field

 

Apr 3 Iraq and Lebanon signed oil deal Iraq would send oil Lebanon would pay with

medical services Lebanese govt didn’t control those services and couldn’t use Iraq’s crude for its power plants Would use Iraqi oil to buy petroleum from companies

(Musings On Iraq Iraq-Lebanon Sign Trade Deal That Doesn’t Make Any Sense)

 

Apr 15 Report 2012 Gazprom signed deal for 2 oil blocks in KRG Feb 2016 Rosneft signed $2.1 bil

deal to help KRG pay Dana Gas and Crescent Petroleum that had taken KRG to court over $2.24 bil they were owed Mar 2016 KRG offered oil assets to Turkey in return for $5 bil in debt forgiveness and cash Turkey already lent KRG $1 bil to help with financial problems Sep 2017 KRG signed $1 bil deal with Rosneft for gas pipeline to Turkey which was never built Oct 2017 KRG said it sold 60% of its share of Turkish oil pipeline to Rosneft for $1.8 bil Rosneft didn’t make any money from any of its deals with KRG

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Apr 19 Report Iraq facing difficulties cutting 1.061 mil/bar/day in oil production to meet

OPEC+ quota If cut production run by intl companies would have to pay them for loses Would cut production at state run fields first and not meet quota

 

May 18 Report Exxon withdrawing some of its staff from Basra due to US-Iran tensions

(Musings On Iraq Did The US Detect A Credible Threat From Iran Or React To Iran Preparing For US Attack?)

 

May 29 Report PM Abdul Mahdi coming under pressure for budget payments to KRG KRG

supposed to export 250,000 bar/day in oil under 2019 budget but didn’t

May 29 Report North Oil Company sued KRG to try to get back control of Khurmala Dome

oil field in Kirkuk Field provides up to 1/3 of KRG’s oil production Dome used to be under Baghdad’s control 2008 Peshmerga seized it Oil Min made informal agreement to allow KRG to maintain it

 

Jun 5 Marathon Oil withdrew from KRG Said it was focusing on US shale instead Had stake

in Atrush field

 

Aug 14 Dynasty Petroleum filed suit vs KRG and Natural Resource Min Hawrami for

unlawful interference intimidation breach of contract Had oil deal in Sulaymaniya Hawrami demanded 20-30% of deal up front with extra payments to get deal Dynasty refused Qubad Talabani and member of KRG oil council demanded Dynasty pay Hawrami PUK intel told to intimidate company to make it pay

(Musings On Iraq Corruption In Iraq An Interview With Stuart Bowen Special Inspector General for Iraq Reconstruction)

(Musings On Iraq Iraq’s Trouble Fighting Corruption Interview With Vincent Foulk Former US Anti-Graft Official)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Sep 3 Report Oil Min Ismaael said Iraq would make extra production cuts to make up for

overproducing past OPEC+ quota Iraq continued to over produce

 

Sep 30 Oil Min facing new corruption charges by parliament Wanted to know about high

percentage of water and impurities in oil Stalled Faw port project Lack of accounting with Basra and South Gas companies

(Musings On Iraq Corruption In Iraq An Interview With Stuart Bowen Special Inspector General for Iraq Reconstruction)

(Musings On Iraq Iraq’s Trouble Fighting Corruption Interview With Vincent Foulk Former US Anti-Graft Official)

 

Nov 24 Report Dynasty Oil filed lawsuit vs KRG and Natural Resource Min Hawrami in UK

Claimed Hawrami demanded a bribe to finish deal already agreed upon Dynasty refused KRG then tried to end deal Dep PM Talabani called Dynasty CEO and threatened to cancel deal PUK intel intimidated company

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Nov 27 KRG announced new deal with Baghdad over 2020 budget KRG would export

250,000 bar/day of oil for Baghdad in return for monthly payments

 

2020

Jan 21 Report BP withdrew from Kirkuk field and 4100 mil contract after couldn’t come to

agreement over expanding field Originally signed deal in 2013

 

Jan 25 Court case in UK accused 2 former Unaoil executives and sales managers paid bribes to get

contracts in Iraq’s oil industry from 2005-11 Unaoil was energy consultant agency Accused of helping company get contract to build 3 offshore floating loading system via bribes and manipulation Also helped Leighton Offshore get contract for 2 pipelines and installing floating loading system through bribes

 

Feb 5 After KRG Natural Resource Min didn’t pick PUK connected company to truck

liquified gas from Khor Mor field in Sulaymaiya armed men blocked trucking company from entering field

 

Mar 9 Report Russia dropped alliance with OPEC and increased oil production Saudi Arabia

increased its production Caused collapse in oil market Hurt Iraq the most as most oil dependent country in world Draft 2020 budget had huge deficit

 

Mar 18 Brent oil price dropped to $26 per barrel lowest since 2003 due to dispute between

Russia and Saudi Arabia along with COVID Led to economic crisis in Iraq the most oil dependent country in world

(Musings On Iraq Oil Prices Collapse And Iraq Has No Answers)

 

Apr 21 Basra Oil Company warned subcontractors about firing workers Happened after

company asked oil corporations to cut budgets by 30% due to financial crisis brought on by collapse of oil market

 

Apr 26 KRG Planning Minister said KRG would export all of its oil for Baghdad if it paid all of

KRG’s bills and the oil companies that operated there Part of feud between Irbil and Baghdad over budget and oil

 

May 21 Report Oil crisis COVID Political dispute with Baghdad led KRG’s revenues to drop to

$200 mil in Apr 2019 KRG needed avg $757 mil/month for govt salaries $211 mil/month to pay oil companies KRG has talked about reforms Crisis has led to protests by govt workers 2019 KRG avg $703 mil/mo in oil sales Apr 2020 only earned $84 mil from oil KRG owed $3.4 bil to oil traders Apr lost $384 mil/mo from Baghdad due to budget dispute Mar KRG said it would defer payments to oil companies and would pay in low current oil prices rather than higher prices when produced

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 27 DNO that ran Tawke and Peshkabir oil fields in KRG cut production due to oil crisis

 

Jun 5 Report Oil companies fired 10-15,000 workers after Oil Min asked them to cut budgets by

30% due to collapsed oil prices

 

Jun 12 KRG oil production down 10% in 2020 due to oil crisis Production went from 490,000

bar/day to 440,000 bar/day Due to objections from Baghdad along with lawsuits sold oil at deep discount from Iraqi price Paid higher export fees to Turkey When oil prices collapsed some companies in KRG couldn’t sell oil for a profit Mar Natural resource Min said it couldn’t pay invoices worth $1 bil from Nov 2019-Feb 2020 Said would pay companies in Mar Didn’t pay until May

 

Jun 19 Report Gulf Keystone that operated oil field in KRG laid off 40% of workforce due to falling

oil prices and delayed payments by KRG

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jul 12 2 fmr Unaoil managers convicted in UK of bribing Iraqi officials to get contracts

 

Jul 16 Report KRG contracted Pakistani businessman to handle deals with Rosneft and traders

that handled all the regions oil sales after 2017 Companies would pay businessman and he would disperse funds to the KRG along with make payments to oil companies producing KRG oil Businessman had $1 bil in Lebanese bank that was probably KRG’s Was frozen after banking crisis in Lebanon that caused financial crisis in KRG

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 5 Report 2014 Oryx Petroleum started working in KRG Donated $40 mil to Kurdistan

Children’s Hospital in Irbil whose trustees include brother of fmr Dep Pm Shaways Hospital never built Became private for profit hospital with links to Barzani family Audit of hospital found $54.4 mil missing

 

Oct 9 Report Fmr UK executive of Unaoil sentenced 3 yrs 4 mo in jail for admitting to paying $17

mil in bribes to Iraqi officials to get contracts to build pipelines offshore mooring buoys

 

Oct 13 Oil Min proposed joint KRG-Baghdad company to run KRG oil sector KRG rejected idea

 

Oct 18 Petronas threatened to leave Gharraf oil field after tribes threatened company

 

Nov 23 Oil Ministry said that long term oil contracts would have to be pre-paid Meant to generate

more money for govt Buyers would have to sign 4-5 yr contracts KRG used prepayment system but led to unsustainable debt KRG went more than $1.5 bil debt to oil traders By end of 2019 KRG had $3.441 bil debt Caused by drop in oil prices in 2014-15 just as it started selling future oil sales to traders

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Dec 27 Report Iran cut natural gas exports to Iraq from 50 mil cub meters to 5 mil Iraq lost around

6550mw of electricity as a result

 

2021

Jan 18 Head of PUK bloc in parliament said KRG would export 250,000 bar/day of oil for Baghdad

as part of budget in return for monthly payments It didn’t sell the oil

 

Sep 19 Oil Ministry announced new deal to capture natural gas from 2 oil fields with Baker Hughes

 

Feb 12 Exxon sold stake in Bashiqa field Was one of 6 deals signed with KRG in Nov 2011 Exxon

            now only working on two blocks

(Musings On Iraq Exxon Withdraws From Another Oil Deal With Iraq’s Kurdistan)

 

Mar 2 With price for Iraqi crude passing $60/barrel PM Kazemi claimed economic collapse was

over and White Paper which was never implemented led to important reforms

(Musings On Iraq Iraq’s PM Touts Reforms That Haven’t Happened To Claim Economic Crisis Over)

 

Apr 3 Iraq and Lebanon agreed to oil deal Iraq would send oil Lebanon would pay with medical

services Lebanese govt didn’t control those services and couldn’t use Iraq’s crude for its power plants Would use Iraqi oil to buy petroleum from companies

(Musings On Iraq Iraq-Lebanon Sign Trade Deal That Doesn’t Make Any Sense)

 

Apr 21 Report Exxon wanted to sell its stake in West Qurna 1 to 2 Chinese companies Oil Min

wanted Exxon to buy stake but uninterested Exxon originally had 60% share in West Qurna 1 after won bid in 2009 Exxon sold part of its shares in 2013 2018 Shell sold its shares Part of major oil companies withdrawing from Iraq due to red tape slow payments lack of infrastructure

 

May 22 Report Gulf Keystone paid kickbacks to KDP politburo member to get oil deal in KRG

Politician got 10% of company’s revenue for 25 yrs

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

May 22 Report KRG changed payments to oil companies without telling them beforehand Oil

executive said that would hurt future investment Extended payments from 15 days to 60 days after end of month Overdue invoices would be paid at slower rate Companies had to reduce production as a result of slow payments in 2020 Due to KRG financial crisis caused by budget dispute with Baghdad

(Musings On Iraq Iraq’s Kurdistan Can’t Pay Its Bills)

 

May 23 Pres Salah said $150 bil in oil had been smuggled out of Iraq since 2003

 

Jun 6 KRG said it would send part of its oil and non-oil revenues to Baghdad Said would pay KRG

govt workers every month when got budget money from Baghdad KRG did neither

(Musings On Iraq Baghdad Sends Money To KRG Without It Complying With 2021 Budget)

 

Jun 17 Fmr Unaoil executive ordered to pay $560,000 in damages by UK judge Admitted to paying

$17 mil bribe to win contract to build pipelines and buoys in Basra

 

Jun 28 Report 2020 KRG sold oil for $28.10 per bar vs $41.96 Brent price Paid $1.76 bil to oil

companies $1.114 bil in fees tariffs interest to pipeline operators KRG made $2.345 bil

 

Jun 29 Secretary of KRG’s cabinet said debt rose to $31 bil due to advances by oil traders and

unpaid govt salaries Oct 2021 debt was $28 bil

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jul 3 Lukoil told Baghdad it wanted to sell its stake in West Qurna 2 Part of move of major oil

companies out of Iraq frustrated by red tape payment issues lack of infrastructure

Jul 3 Report Oil Min Jabbar said BP thinking about withdrawing from Iraq

 

Aug 1 Report Lukoil ExxonMobile BP tried to divest from oil investments in Iraq Part of majors

leaving Iraq due to red tape lack of infrastructure etc

 

Aug 26 Oil Minister issued order for National Oil Company to take control of 7 state owned oil

companies

 

Sep 8 Report Dec 20202 US approved financing for Crescent Petroleum and Dana Gas to develop

Khor Mor gas field Before US had been opposed to KRG’s independent energy deals Trump admin approved to try to wean Iraq from Iranian natural gas

 

Sep 18 General Manager of state marketing organization for oil said KRG had not sent any money

to Baghdad as required under 2021 budget PM Kazemi was still sending KRG monthly budget payments in return for its political support

(Musings On Iraq Baghdad To Send Budget Payment To KRG For 2^nd Time)

(Musings On Iraq Kurdish Politician: 2021 Budget Isn’t Binding Agreement For KRG)

(Musings On Iraq Baghdad Sends Money To KRG Without It Complying With 2021 Budget)

 

Sep 26 Oil Min called for KRG to export 250,000 bar/day of oil for govt or send cash equivalent as

required by budget PM Kazemi was sending KRG monthly budget payments so no reason to comply

 

Nov 14 Iraqi govt said it would develop Akkas gas field in Anbar to attract foreign investment 2011

field was auction to South Korean company but dropped due to war vs IS

 

Dec 15 Report KRG in intl arbitration over gas contract with Genel Energy Hasn’t paid companies on

time followed schedules or repaid debts Led to decline in investment in KRG energy KRG didn’t have gas strategy Didn’t understand the business

 

2022

Jan 4 Report Iran continued to limit natural gas exports to Iraq over unpaid bills Led to electricity

shortages in Iraq Electricity Min said Iranian gas supplies went from 50 mil to 8.5 mil cubic meters/day Cost Iraq 4000mw of power

 

Jan 5 Iraqi govt agreed to buy ExxonMobile’s share in West Qurna 1 oil field Setback for Iraq’s oil

industry as Western companies divesting

(Musings On Iraq ExxonMobile Withdraws From Iraq’s Oil Industry)

Jan 5 Report Oil exploration and drilling in KRG declined in 2020 KRG didn’t earn enough money

to pay its bills to oil companies 1^st half of 2021 KRG earned $688 mil/mo from oil sales After paid debts to oil traders oil companies tariff and transit fees to Turkey and KRG pipeline operators only had $290 mil/mo left Had to pay $617 mil/mo for public sector Owed more than $4 bil to trading companies that gave KRG advances on oil sales Owed $4 bil to electricity producers May 2020 announced it would pay oil companies it owed money for 2019-20 at different schedule Companies angered Dec 2021 KRG still owed $460 mil to 5 oil companies Financial crisis partially helped by PM Kazemi resuming monthly budget payments of $138 mil since Jul Aug 2021 KRG producing 42,900 bar/day of natural gas from Shaikan field Growth at field was slower than expected 1 of major oil fields Tawke saw 15-20% drop in oil production/yr 1 of major oil companies in KRG Genel Energy ended 2 contracts due to years of delays Company sought arbitration against KRG for breaking 2 contracts

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 3 Report KRG extended natural gas pipeline towards Turkish border Was hoping to eventually

export gas to Turkey Khor Mor field in Sulaymaniya supplied gas to power plants in Sulaymaniya and Irbil Planned to add pipeline from field to Dohuk 2013 KRG signed deal with Turkey to export gas Never happened KRG didn’t produce enough gas for its own needs Was also Chamchamal gas field

 

Feb 12 KRG started charging higher tariffs on oil companies Could mean millions of dollars in new

fees for companies May 2021 KRG said it would slow pace of paying companies Jul said it would start charging for gas flaring from oil fields Companies already paid $4-$7 per/bar in tariffs KRG was desperate for money after yrs of economics problems due to oil and disputes with Baghdad

 

Feb 14 Report Totals $27 bil deal stuck in contract disputes 2020 Total agreed to invest in 4 oil and

gas projects in Basra for 25 yrs Oil Min didn’t clear deal with depts before signing it Cabinet needs to ok deal Total supposed to spend $10 bil on Ratawi field in Basra Oil Min wanted Iraqi National Oil Company to be partner in deal Total said no Total also supposed to build solar power plant Develop natural gas processing facility Build $3 bil water injection project to help southern oil production

 

Feb 15 Federal Supreme Court ruled that KRG’s oil and gas contracts were unconstitutional KRG

PM Barzani said the ruling was illegitimate

(Musings On Iraq Baghdad-Irbil Talks About KRG’s Oil Industry Likely To Go Nowhere)

(Musings On Iraq Kurdistan Continues To Defy Iraq’s Central Govt Over Oil Industry)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 23 Report Oil Min Jabbar said Iraq would increase ability to export oil and use natural gas for

electric power plants Iraq produced 27 bil cubic ft of natural gas/day Didn’t have ability to exploit it Still imported 20 mil cubic ft/day of gas from Iran

 

Mar 28 KRG PM Barzani said that KRG would eventually export natural gas to Turkey and

Europe KRG had been talking about that since 2012

 

Apr 5 Report Jan 2022 Oil Min officials talked about increasing oil exports to 3.7 mil/bar/day by

end of yr Delays in infrastructure projects meant officials now only talking about increasing exports by 200,000 bar/day

 

May 17 KRG judicial council said KRG’s 2007 oil and gas law was constitutional Response to

Federal Supreme Court ruling law was unconstitutional

(Musings On Iraq Kurdistan Continues To Defy Iraq’s Central Govt Over Oil Industry)

 

May 19 Oil Ministry told energy companies in KRG had to sign new contracts with state marketing

office Part of Baghdad’s attempt to enforce Feb Supreme Court ruling that KRG oil law and contracts unconstitutional

(Musings On Iraq Kurdistan Continues To Defy Iraq’s Central Govt Over Oil Industry)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

May 24 At Davos economic forum KRG PM Barzani said that KRG would follow constitution and

that overruled Supreme Court ruling that KRG’s energy law was unconstitutional

(Musings On Iraq Kurdistan Continues To Defy Iraq’s Central Govt Over Oil Industry)

 

May 27 Report 2021 KRG earned $9.12 bil in oil revenues After payments to foreign operators

trading companies pipeline fees transit fees to Turkey only made $3.96 bil End of 2021 KRG owed $3.82 bil to oil traders that prepay for KRG’s oil exports

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jun 2 Report Oil Min sued 7 oil companies working in KRG after Supreme Court said that their

deals were unconstitutional

(Musings On Iraq Legal Battle Continues Between Baghdad and Irbil Over Oil)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Jun 27 Major oil service companies Schlumberger Baker Hughes Halliburton said they would

comply with Oil Min request not to work in KRG anymore

(Musings On Iraq Legal Battle Continues Between Baghdad and Irbil Over Oil)

 

Jul 5 Court in Baghdad annulled KRG oil contracts with DNO Genel Energy Western Zagros HKN

Part of Baghdad’s attempt to control KRG’s oil industry

(Musings On Iraq Legal Battle Continues Between Baghdad and Irbil Over Oil)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 25 Kazemi govt threatened new lawsuits against buyers of KRG oil

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 26 Iraq’s State Organization for Marketing Oil threatened new lawsuits against buyers of KRG

oil Said it was blocking loadings of illegal cargoes from Iraq meaning KRG exports KRG said its exports were unaffected

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Aug 30 Report if KRG didn’t get new investment its oil production would shrink Output already

down from 2019 to start of 2022

Aug 30 Report Foreign companies withdrew workers from Khor Mor natural gas field in

Sulaymaniya after repeated rocket attacks by pro-Iran groups

 

Sep 15 Total sold its share in KRG field for $155 mil Total wanted to focus upon new deal with

Baghdad Setback for KRG trying to attract major oil companies

 

Sep 20 Iraq’s State Organization for Marking Oil warned oil companies not to buy oil from KRG

after court ruling that said KRG oil deals were illegal

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Sep 22 Federal Supreme Court struck down order that created Iraqi National Oil Company Was

supposed to run operations for govt owned oil industry

 

Sep 27 Report KRG repaid $628 mil in debt to oil companies KRG owed $1.6-$1.7 bil to

            oil firms

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Oct 18 Report KDP and PUK carrying out low level violence against each other Fmr PUK special

forces officer killed in car bomb reportedly because was going to join KDP Officials said houses of KDP members have been attacked in Sulaymaniya Fmr Gorran member who joined KDP had house attacked by drone

 

Oct 26 Baghdad court annulled KRG contracts with Addax Petroleum ShMaran and Gulf Keystone

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

2023

Jan 10 Report KRG cut price of its oil which was already discounted Came after Iraq Supreme

Court ruled KRG’s oil deals illegal KRG changed way companies calculated invoices to shift risks to them

 

Jan 28 Report Oil trader Trafigura Group stopped doing business with KRG Tried to

renegotiate contract but KRG PM Barzani dropped out of meeting Tafigura advanced millions to KRG starting in 2015 as region got into dispute with Baghdad over budget and oil contracts Jun 2022 KRG owed $3.5 bil to oil buyers $620 mil stuck in Lebanese banks due to country’s financial crisis

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Feb 2 Report Total told staff to withdraw from Iraq after talks over $27 bil deal fell apart Total CEO

met with PM Sudani who demanded Iraq get 40% stake in deal Total said no Total was to develop Ratawi oil field in Basra Develop natural gas from 5 oil fields in Basra Build water treatment plant for oil fields

 

Feb 14 Report Jul 2021 KRG Natural Resource Min told oil companies had to stop flaring

natural gas at oil fields in 18 months Didn’t happen Would mean oil companies would have to invest in natural gas equipment when KRG was not regularly paying them and owed them millions Was due to KRG’s failed oil policy

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Mar 2 Report Oil production in KRG fell for 3^rd yr in a row 2019 KRG production peaked at 484,000

bar/day Was down to 438,000 bar/day in 2022 Problem is KRG still not consistently paying oil companies They warned production could continue to drop if not paid consistently and on time Natural Resource Min has made unilateral changes to cut profits to oil companies to pay for its bloated public sector Needs $600 mil/mo to pay KRG govt workers KRG raised pipeline fees on companies Changed prices formula to reduce amount paid to companies KRG also largely cut off from budget payments from Baghdad because can’t agree on oil policy and budget KRG also billions in debt Oil prices fell end of 2022 which imposed more financial problems on KRG Khor Mor gas field attacked in 2022 that cut back expansion of field KDP and PUK in political dispute over control of KRG and has blocked building pipeline to Khor Mor to Turkey

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

Mar 25 Intl Arbitration Court ruled Turkey violated bilateral treaty with Iraq by exporting

KRG’s oil Turkey halted both Iraqi and KRG oil flows through pipeline Iraq wanted Turkey to pay $58 bil in damages Court only said Turkey had to pay $1.4 bil Court also said Iraq had to pay Turkey around $600 mil for unpaid fees on using pipeline

(Musings On Iraq Iraq Wins Arbitration Case Against Turkey Exporting KRG’s Oil)

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

Mar 25 Turkey closed pipeline to Iraq after lost arbitration court Refused to open it for months

afterwards

(Musings On Iraq Iraq Now Stating The Obvious, It’s Up To Turkey To Re-Open Oil Pieline)

 

Mar 29 Report Oil dependency led Iraq to ignore climate change Failed to capture natural gas created

at oil wells Releases carbon emissions that increase global warming and Iraq’s temperature and water problems Oil companies have refused to follow rules on gas emissions

 

Apr 26 PM Sudani said that with gas auctions and deal with Total Iraq would be self-sufficient in

natural gas and be an exporter in 3-5 yrs

 

May 25 Oil Min signed contracts with four oil traders that bought much of KRG’s oil exports Part of

Baghdad-Irbil oil deal

 

Jul 6 Oil Ministry said Iraq wanted to achieve self-sufficiency in natural gas by 2028

 

Aug 24 Iraq announced preliminary deal to import natural gas from Turkmenistan to fuel power plants

No infrastructure existed to deliver the gas Analysts said would take 2 yrs to build pipelines that would go through Turkey

 

Aug 26 Parliament’s oil committee said it supported Sudani govt’s goal to nearly double oil

production to 8 mil/bar/day by 2027 Also wanted to become self-sufficient in natural gas Said it expected huge foreign investment to finance plans

(Musings On Iraq Sudani Govt Wants To Make Iraq More Oil Dependent)

 

11/9/23 Report DNO told KRG oil companies will not produce for exports until late payments re

resolved KRG owes oil companies over $300 mil for 2022 and 2023 oil exports

(Musings On Iraq Iraqi Kurdistan’s Failed Independent Oil Strategy)

 

11/10/23 ExxonMobil singed transfer agreement with Oil Min to sell its last shares in West Qurna 1

filed to PetroChina Afterward ExxonMobil will be completely out of Iraq Already exited KRG  ExxonMobil latest major oil corporation to depart

(Musings On Iraq ExxonMobil Latest Major Oil Company To Leave Iraq)

 

2024

Feb 14 Shell withdrew from $11 bil contract to build Nebras Integrated Petrochemical Complex Deal

signed in 2015 Was supposed to be completed by 2021 Didn’t happen