PetroChina will be targeting Iraq and Iran and is looking to focus on five projects — the Ahdab, Rumaila and Halfaya oilfields in Iraq, and the North Azadegan and Masjed-i-Suleiman fields in Iran.
Democratic elections normally lead to stability and a smooth transfer of power. But not in Iraq. The results of the latest elections may lead to violence and instability in a country torn by wars and civil strife. The President Jalal Talabani and Prime Minister Noor al-Maliki both dispute the results and have called for a […]
OPEC fears that its grip on the global supply of oil is being threatened by the rising output of Iraq’s oilfields and the prospect of billions of dollars of multinational investment in the world’s leading untapped oil resource. Iraqi oil exports in February were at their highest in 20 years, at an average of 2.08 […]
The investment commission in Basra has given an investment permit to establish a shopping complex in the north of the city at a total cost of $3.27 million U.S. dollars.
Turkey is negotiating the renewal of an agreement on operating a pipeline that carries Iraqi crude oil to world markets and hopes to extend the deal by up to 20 years, Energy Minister Taner Yildiz said on Tuesday.
Iranian Bank has opened a branch in the southern province of Basra to facilitate money transfer between the two countries, the Iranian consul in the city said on Wednesday.
LUKoil, plans to drill the first exploration well at the West Qurna-2 oil field in Iraq, LUKoil CEO Vagit Alekperov said on Wednesday. “We’ll start drilling the first exploration well at the end of the year”
A security source said that Iraqi army forces clashed with an armed group in a district north of Tikrit in Salahuddin province. The source said the army killed 4 of the terrorists following clashes with an armed group in the district of Shirqat. The source added that the incident took place during raids carried out […]
A woman was killed and 11 others injured in a collision of four civilian vehicles south of Kirkuk city on Sunday, a security official said. “Three civilian vehicles collided and a fourth one overturned on the main road linking Taza district to Daqquq district, (35 km) south of Kirkuk, leaving one woman killed and 11 […]
There were predictions before the recent Organization of the Petroleum Exporting Countries (OPEC) conference about the participation of Libyan Oil Minister Dr Shukri Ghanim, because of the existing crisis between the Libyan Jamahiriyah and Switzerland, and the fact that a number of Libyan officials have been put on a Europe-wide travel ban by Switzerland, which […]
Former British Prime Minister Tony Blair is alleged to have received cash from a Korean oil firm run by a former bribery convict for advice on Iraq’s oil-rich Kurdistan, according to news reports in Korea. It had been kept secret for nearly 20 months before it was revealed last week. Blair, who has been accused […]
Heritage Oil, this month will sell its Ugandan operations for $1.35bn after more than a decade of development work. writes Miles Johnson in the Financial Times The cash will be used to pay investors a special dividend of between 75p and £1 per share, and to delve into fresh projects in Africa and the Middle […]