Shahristani faced challenges to his authority by Kurdish leaders who continue to strike oil deals in defiance of his ministry.
Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
“In this scenario, the role of Iraqi supplies may be more of a brake on rising prices than a catalyst to a lower price path,” the report explained. “In any case, the Iraqi auction clearly opens the door for a careful review of the conventional wisdom on the outlook for oil prices over the next […]
Hundreds of oil workers employed at the South Refineries Company demonstrated on Thursday in Basra demanding to dissolve the firm’s board of directors and to release their share of revenues.
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 […]
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 […]
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 […]
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 […]
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. […]
This year, an innovative component will be a Catalog Show. Firms with little or no previous exposure in Iraq will have a low-cost, low-risk opportunity to gauge and build interest in your products and we are interested in having lots of participation—particularly from American companies.
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 […]
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 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 […]