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MEOG NEWS IN BRIEF MEOG

the well will be subjected to the hydraulic Al-Jaber hopes production reduction, because the internal consumption
fracturing process.” will be managed in line with the production
He continued: “The completion activities cut will contribute to cut decision, in order to keep the current
of the Halfaya well 95 were carried out by export capabilities.”
Daqing Company to complete the well as stability “We hope this decision will bring more
a source of water for the lower and middle stability and balance to the global oil markets,
layers to support oil reservoirs with water Attending the 33rd OPEC+ ministerial and to the national economy.”
to maintain pressures and improve field meeting in Vienna Iraqi Oil Minister Ihsan MOO
production.” Abdul Jabbar, said: “The ministerial meeting
MOO discussed the developments and challenges
facing the oil market, and the implications of GAS
Iran oil exports underway that, especially after the recent decline in oil Iran gas export to Turkey
prices and the instability of oil markets.”
uninterrupted allies from outside the organization were keen
“The producing countries in OPEC and its
The Iranian Minister of Petroleum said: “Iran’s to achieve more stability and balance between stops for periodic repairs
crude oil exports are being carried out without supply and demand.” The Director of Dispatching of the National
any problems to the target markets.” “The ministerial meeting seeks and aims Iranian Gas Company (NIGC) announced
Javad Owji stated that the sale and to achieve more stability in the long term, that Iran’s gas flow to Turkey was stopped
export of crude oil is ongoing without noting the gains made by OPEC+ in reaching for eight days with the agreement of the two
any interruption, and stated: “Currently, and maintaining stability and balance for the countries in order to carry out periodical
the export of oil is going on without any oil markets, which was positively reflected on repairs.
problems.” the economies of the producing countries, Mohammad Reza Joulai told Shana: “Iran’s
He stated that fortunately, by identifying including Iraq.” gas export to Turkey has been stopped for
new markets and customers and new export “The production cut decision came in line eight days since Monday, October 03, 2022, to
processes, Iran has been able to find good with the wise policy that OPEC+ adopted carry out periodical repairs by both countries
markets and there has been no stoppage in the during the past years, which is to take and with a previous agreement. Gas exports
export of crude oil. proactive precautionary measures to confront to Turkey will resume from the announced
The petroleum minister stated: “With the the fluctuations of the oil market.” period.”
new solutions presented by my colleagues in “The ministerial meeting of OPEC+ Turkey’s Petroleum Pipeline Corp.
the international affairs department of the decided to reduce the total production by 2 (BOTAS) issued a notice confirming this
National Iranian Oil Company (NIOC), we million barrels per day, with the contribution issue: “Due to the inspection and maintenance
have been able to obtain good and attractive of all the producing countries in OPEC+, and work on the Iran-Turkey gas transmission
markets for Iran’s crude oil, gas condensate, oil according to the production levels required pipeline on October 2 to 9 of 2022, which
products and petrochemicals.” for each of them, as of November 2022.” is planned in advance, there will be no gas
Owji emphasized: “Today, the issue of “The decision aims to protect the oil supply from the entry point of Gurbulak to
energy security is considered one of the markets from negative effects occurred our transmission network for eight days.”
most important issues in the world, and this because of the conditions and challenges In this announcement, it is emphasized
importance gradually doubles as the cold facing global markets.” that during the maintenance operation of
season approaches.” “Iraq aims to maintain its reference this pipeline, there will be no problems in the
SHANA production level, which was set by the supply and demand balance of Turkish gas.
member countries in July 2021.” SHANA
“Exports of Iraq will not be affected by this

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