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.

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Iran Exports 1.5 Million Litres of Fuel a Day to Iraq

Iran has agreed to ship 1.5 million liters of fuel to breathe life into some Iraqi power plants made idle due to fuel shortages. The agreement was struck during a visit by a high level Iraqi delegation to Tehran, a statement by the Ministry of Electricity said. The agreement comes as power outages have worsened […]

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Russia's TNK-BP Creates JV to Tap Iraqi Oil and Gas

Russia's TNK-BP, half owned by BP, has establish a joint venture to develop oil and gas fields in Iraq, TNK-BP said on Wednesday. It said, it has signed an agreement with the Iraq Oil Company for Oil Investments (IOCOI) to establish the venture. "The two companies will consider joint acquisition of fields with commercial reserves […]

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Iraq to Launch Gas Field Auction: Ministry

Iraq is set to call for bids from energy firms to develop its gas fields, the oil ministry said on Wednesday, as the war-ravaged country seeks new revenue sources to rebuild its battered economy. "The ministry will announce tomorrow (Thursday) the launch of a tender to develop gas fields and it will invite international companies […]

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Iraq Oil Bases Sprout as Halliburton Chases Growth

Schlumberger Ltd., Halliburton Co. and Baker Hughes Inc. are among companies this past week that said they’re expanding operations in Iraq. Weatherford International Ltd., the fourth- largest oilfield-services provider by market value, will expand staff in Iraq to more than 1,000 by July, Chief Executive Officer Bernard Duroc-Danner told investors yesterday