Why is the World Energy Outlook 2012 focusing on Iraq? (Source: IEA)
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Archive | Iraq Oil & Gas News
Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
KRG Planning 1m bpd Pipeline to Turkey
By John Lee. The Kurdistan Regional Government (KRG) is planning to build an oil pipeline to Turkey with a capacity of 1 million barrels a day, according to a report from Platts. KRG natural resources minister Ashti Hawrami (pictured) told an energy conference in Turkey on Thursday that plans were already in place for the […]
GKP Shares Fall on Fundraising for Shaikan
By John Lee. Gulf Keystone has announced the launch of an offering of senior unsecured convertible bonds due October 2017 in a principal amount of USD$ 200 million, which may be increased in the event the Company exercises in full its increase option of up to USD$ 25 million (the "Increase Option"). Shares in the […]
Rompetrol Considers Iraqi Expansion
The Managing Director of Romania's Rompetrol has said that the company is interested in exploring in Iraq. Gavit Kurkimov (pictured) said: "We have just visited Iraq. The main purpose of our visit was to gather information on the possibilities of drilling there ... we do not carry out any activities in Iraq, but have opened […]
Iraq Increases Oil Sales and Discount to Jordan
By John Lee. Iraq is to increase export oil exports to Jordan from 10,000 barrels per day to 15,000 bpd at a discounted price, Jordanian Energy Minister Alaa Batayneh said. Following repeated requests by the kingdom, the two countries have agreed that Iraq will sell the additional 5,000 barrels a day at a discount of […]
Welcome to Iraq Energy Forum
Advertising Feature Iraq is looking forward to welcoming you at the Iraq Energy Forum (IEF) which will be held in Baghdad, at AL Rasheed Hotel on 12/12/2012. This is an initiative founded and hosted by Iraq Energy Institute (IEI), the official advisor to the Federal Parliament of Iraq on energy policies. Iraq Energy Forum is […]
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Iran to Export Gas to Iraq by mid-2013
By John Lee. Iran will provide Iraq with natural gas by the summer of 2013, according to Iranian news agency Fars. Javad Oji, the head of the National Iranian Gas Company, said Iran has completed more than 25 percent of a 48-inch pipeline that could carry up to 25 million cubic meters per day of […]
Sept Oil Exports Highest for Decades
By John Lee. Iraq's Ministry of Oil has announced that oil exports for September rose to 2.6 million barrels per day, at an average price of $107 per barrel, bringing in revenues of 8.4 billion dollars over the 30-days month. Platts used a more precise figure of 2.598 million bpd. This compares to 2.564 million […]
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Iraq Makes Initial $650m Oil Payment to KRG
By John Lee. Iraq's, Deputy Prime Minister for Economic and Industrial Affairs, Dr Rowsh N Shaways, told Reuters on Tuesday that Baghdad's Finance Ministry has begun payment of an initial $650 million to Iraqi Kurdistan for oil companies working in the region. Erbil and Baghdad agreed last month to draw a line under a dispute […]
Oil vs Tomatoes: Basra’s Farmers Continue To Protest
By Waheed Ghanim. This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Basra’s farmers say the oil industry is “occupying” their land – and that the one thing the Iraqi government is forgetting in its race to get […]
Tags: Basra News, BP, ENI, Exxon, Exxon Mobil, ExxonMobil, Farming, LUKoil, Shell, South Oil Company
Iraq to Spend $500bn on Energy Industries
Iraq will invest around $500 billion in energy and linked industries with the help of the private sector by 2030, the Deputy Prime Minister for Energy told a conference hosted by the Iraq Britain Business Council and Iraq's National Investment Commission. Dr Hussain al-Sharistani (pictured) said the move would generate around $6 trillion in revenues […]
Iraq’s Petroleum Sector Development - Opportunities & Challenges
By Ahmed Mousa Jiyad. Since mid-2009 Iraq has been pursuing aggressive strategy to develop the country’s petroleum sector, especially the upstream and midstream subsectors. Such development efforts would, if realized, bring outstanding results for Iraq and the world petroleum market. However, there are huge uncertainties and formidable challenges in the path of such unprecedented expansion. […]