Iraq produced 4.33 MMbbl/d of crude in January, down by 100,000 bbl/d from the previous month, data from state-owned marketer SOMO seen by Reuters showed on Feb. 6.
According to the production figures, Iraq's output was 100,000 bbl/d below its OPEC+ quota.
The production fall followed lower exports from both federal Iraq and the semi-autonomous Kurdistan region, while internal consumption also fell, the data showed.
Iraq plans to temporarily shut its 400,000 bbl/d West Qurna 2 oilfield for 10 days of maintenance from Feb. 20, two oil officials with knowledge of the field's operations said earlier this month.
The maintenance will not impact oil exports as production from other oilfields is set to increase to cover the shortfall, the sources said.
Recommended Reading
The ‘Necessary Evil’ of Four-mile Laterals
2024-05-23 - While extended length lateral wells can lead to massive profits, the risk might not always be worth it. At Hart Energy’s SUPER DUG, Diamondback Energy, SLB, NOV and others weighed the risk and rewards of drilling three- and four-mile laterals.
E&P Highlights: July 1, 2024
2024-07-01 - Here’s a roundup of the latest E&P headlines, including the Israeli government approving increased gas export at the Leviathan Field and Equinor winning a FEED contract for the all-electric Fram Sør Field.
Crescent Energy: Bigger Uinta Frac Now Making 60% More Boe
2024-05-10 - Crescent Energy also reported companywide growth in D&C speeds, while well costs have declined 10%.
Blankenship, Regens: More Demand, More M&A, More Regs
2024-05-23 - In 2024, the oil and gas industry is dealing with higher interest rates, armed conflicts in Europe and the Middle East, rising material costs, a decrease in Tier 1 acreage and new policies and laws.
Goodbye Manual Control: Vital Energy’s Automation Program Boosts Production
2024-07-12 - Production, ESP efficiency soared when the company automated decisions with AI at the edge.