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Shafaq News
a day ago
- Business
- Shafaq News
Iraq ranks second among Arab seaborne oil exporters in May
Shafaq News/ Iraq ranked second among the largest Arab oil exporters by sea in May 2025, according to data from the Washington-based Energy Research Unit. The figures showed that seaborne crude oil exports from the top five Arab exporters rose in three countries on a monthly basis, while Iraq and Libya recorded declines. Saudi Arabia led the list in May, increasing its seaborne exports by approximately 266,000 barrels per day (bpd) from the previous month. Iraq followed in second place with an average of 3.27 million bpd, down by 32,000 bpd compared to April's 3.3 million bpd. Government reports indicated that Iraq aimed to keep exports below 3.2 million bpd in May and June to align with its OPEC+ production quota. On a year-on-year basis, Iraqi exports fell by 294,000 bpd compared with May 2024, when they reached 3.56 million bpd. The United Arab Emirates ranked third with exports rising to 3.02 million bpd, followed by Kuwait with 1.37 million bpd. Libya came fifth, with exports declining to 1.19 million bpd last month. Meanwhile, economist Nabil Al-Marsoumi warned of potential disruptions to maritime trade routes in the event of a regional conflict between the United States and Iran, which could negatively impact oil supplies. He urged the resumption of exports via the pipeline from the Kurdistan Region to Turkiye's Ceyhan port. In a social media post, Al-Marsoumi wrote, "If the US and Iran agree, the world will live in peace. If they disagree, the gates of hell will open.' He noted that in case of escalation, 'maritime trade routes will close, oil export platforms will be destroyed, transport and insurance costs will surge, and oil supplies will be negatively affected, pushing prices higher.' Al-Marsoumi added that Gulf oil-exporting countries would be severely impacted as export routes narrow or shut down, especially those lacking alternative outlets. 'The reviving the Ceyhan pipeline as more essential now than ever,' he concluded.
Saba Yemen
3 days ago
- Business
- Saba Yemen
Iraq, Libya's crude oil exports to rise in May 2025
Washington - Saba: A new report by the Energy Research Unit indicates an increase in Iraqi and Libyan oil exports, while Oman and Qatar's seaborne crude oil exports declined in May 2025. The new report stated that Iraqi and Libyan oil exports increased during May, with the gradual return of 2.2 million barrels per day of oil to the market, starting last April. This volume had been voluntarily reduced by eight OPEC+ countries between 2024 and the end of March 2025. It was decided to raise the production increase ceiling to 411,000 barrels per day during May, June, and July 2025, more than previously planned. In contrast, Oman's crude oil exports declined in May to approximately 935,000 barrels per day, compared to 994,000 barrels per day in the previous month, a decrease of 59,000 barrels per day. Qatari crude oil exports declined last month to 566,000 barrels per day, compared to 586,000 barrels per day in April. Whatsapp Telegram Email Print
Shafaq News
12-05-2025
- Business
- Shafaq News
Iraqi crude exports climb in April amid overall output moderation
Shafaq News/ Iraq's crude oil exports inched up by 24,000 barrels per day (bpd) in April compared to March, but remained 212,000 bpd below the level recorded in the same month last year. The Washington-based Energy Research Unit reported that over the first four months of 2025, Iraq's average seaborne crude exports declined to 3.34 million bpd, compared to 3.42 million bpd during the same period last year. The agency noted that while Iraq, Algeria, and Oman saw monthly increases in April, seaborne exports from Saudi Arabia, the UAE, Kuwait, Qatar, and Libya declined.
Shafaq News
18-04-2025
- Business
- Shafaq News
Iraq's Q1 oil exports fall 3% amid OPEC+ cuts, voluntary reductions
Shafaq News/ Iraq's average exports of crude oil and petroleum products dropped by 110,000 barrels per day (bpd) in the first quarter of 2025, down 3% year-on-year, amid continued production curbs in line with OPEC+ agreements and additional voluntary reductions. According to the latest data from the Washington-based Energy Research Unit, Iraq's seaborne exports averaged 3.70 million bpd between January and March 2025, compared to 3.81 million bpd during the same period in 2024. The decline follows Iraq's commitment to a production adjustment plan initiated in July 2024, aimed at offsetting previous oversupply that had contradicted both its voluntary cuts and the broader OPEC+ targets. Among the measures was a reduction of 90,000 bpd implemented between November 2024 and February 2025. Iraq's crude oil production also declined in the first quarter, averaging 3.99 million bpd, compared to 4.22 million bpd in Q1 2024. Despite the recent quarterly decline, Iraq's average seaborne oil and product exports for the full year 2024 rose to 3.64 million bpd, up from 3.55 million bpd in 2023. Asian buyers remained dominant in Iraq's crude market, accounting for more than 70% of the country's seaborne oil exports during the first quarter of 2025. China led with 1.34 million bpd, followed by India with 940,000 bpd and South Korea with 380,000 bpd.
Saba Yemen
24-03-2025
- Business
- Saba Yemen
World's Top 10 Gasoline Importers
Washington - Saba: A new report by the Energy Research Unit revealed a list of the world's top 10 gasoline importers for 2024, including several Arab countries. The report indicated that the new list saw no change in the top three positions in 2024 compared to 2023, with North American countries topping the list. According to the Washington-based Energy Research Unit's report, global seaborne gasoline imports averaged 5.06 million barrels per day in 2024, a slight increase from the 2023 level of 5 million barrels per day. The report stated that the United States topped the list of the top 10 in 2024, accounting for more than 9% of total global gasoline imports. Mexico and Singapore ranked second and third among the world's largest gasoline importers in 2024, accounting for 7.1% and 6.9% of the global total, respectively. According to data from the Energy Research Unit, the world's largest gasoline importers by the end of 2024 are as follows: 1. United States: 473,000 barrels per day. 2. Mexico: 362,000 barrels per day. 3. Singapore: 354,000 barrels per day. 4. Indonesia: 325,000 barrels per day. 5. Nigeria: 272,000 barrels per day. 6. Malaysia: 235,000 barrels per day. 7. UAE: 207,000 barrels per day. 8. Australia: 200,000 barrels per day. 9. Netherlands: 118,000 barrels per day. 10. Oman: 100,000 barrels per day. US seaborne gasoline imports decreased by 59,000 barrels per day in 2024, year-on-year, compared to an average of 532,000 barrels per day in 2023. The UAE's imports amounted to 207,000 barrels, meeting part of its demand through imports, despite being one of the world's largest gasoline exporters. Oman's imports amounted to approximately 100,000 barrels per day in 2024, up from 82,000 barrels per day the previous year. Whatsapp Telegram Email Print
