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.

Iraq’s Oil Reserves to be Revised Upwards

Iraq’s oil sector is changing, and so could the identity of the man in charge. Asked if he hoped to keep his post as the minister of oil in the next Iraqi government, Dr Hussain al Shahristani said he would be happy to step aside. “I wouldn’t try to stay unless I was forced to […]

Importance of Joint Oil Agreements – Expert

Oil expert Abduljabar al-Halafi on Friday highlighted the importance of signing an agreement to benefit from potential oilfields between Iraq and neighboring countries. “There are no joint oilfields between Iraq and neighboring countries, but there are potential geographic reserves on borders,” al-Halafi told Aswat al-Iraq news agency. “The use of any part of these oilfields […]

People, Liabilities & Assets: Risk Management in Iraq

While much of the rest of the world is still taking tentative steps forward in its recovery from a global economic crisis, some industries and regions are already making strides in the right direction.  Anglo-Arab Insurance Broker’s Chief Operating Officer, Mr. Robert Edwards, surveys the risk-transfer buying patterns of the energy industry in some of […]

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Gulfsands Shares Surge After Approach

Gulfsands Petroleum (AIM: GPX) noted its recent share price movement on London’s AIM market and confirmed that has received a preliminary approach, which may or may not lead to an offer for Gulfsands. The company’s shares have surged over 19% to trade at 310p on the London Stock Exchange today (19 March). Gulfsands Petroleum is […]

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OPEC Symposium Baghdad – Sept

The Organization of Petroleum Exporting Countries will hold a symposium in September for its 50th anniversary, Iraq’s oil minister said Wednesday. Hussein al-Shahristani told Dow Jones Newswires of the planned event after exiting an OPEC meeting in which the cartel decided to keep output quotas steady. OPEC was founded in Baghdad on Sept. 14, 1960. […]

Turkey Says Pipeline Agreement Will Be Renewed

Turkey’s energy and natural resources minister said that the crude oil pipeline agreement would be renewed with Iraq. Speaking at the 9th International Oil and Gas Conference at Ankara’s Sheraton Hotel, Taner Yıldız said, “there are big and significant natural gas and oil reserves in east of Turkey. Turkey shapes its energy policies and diplomacy […]

Kirkuk-Ceyhan Pipeline Accord to be Extended

Turkish Minister of Energy and Natural Resources Taner Yildiz said Tuesday his country sought to renew the Kirkuk-Ceyhan oil pipeline accord with Iraq before it expires on March 30, 2010. Turkey and Iraq are likely to reach agreement on the extension of the accord for another 20 years soon, the minister said in an address […]

Iraq Targets 12 Million Barrels a Day, Defers OPEC Quota Limits

Iraq expects to produce 12 million barrels of oil a day within seven years and won’t even discuss OPEC quotas until 2012 as output accelerates after years of conflict, the country’s oil minister said. “We are not discussing any quota for Iraq before our production increases significantly,” Iraqi Oil Minister Hussain al-Shahristani told reporters today […]

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