Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Iran has discovered 30 billion barrels of oil in place at a southwestern oil field that borders Iraq, the Jomhuri-ye Eslami newspaper reported yesterday. “An Iranian company along with a Chinese company are preparing the ground for exploration of oil in the Arvand-Kenar field that has 30 billion barrels of oil in place,” the daily […]
The president of Iraq's semi-autonomous Kurdish region says that it could resume oil exports as soon as a new federal government is formed in Iraq. Massoud Barzani says his Kurdish Democratic Party is in talks with Baghdad to form a new government that "doesn't exclude any party." He says that oil-rich Kurdistan has resolved most […]
“If we compare the rate of development of Iran’s joint oil fields with other Persian Gulf regional states, we see that from 1977 onwards, very little progress has been made in Iran’s part of the joint oil fields,” Katouzian told the Mehr News Agency on Friday.
A total of Eighteen German and Dutch oil companies will participate in an oil conference in Arbil on Tuesday - “The Netherlands government organizes this conference along with Shell, 14 Dutch oil companies and three German companies,”
Vast Exploration provided the following progress update on the Qara Dagh - 1 Exploration Well, Qara Dagh Block, in the Kurdistan Region of Iraq.
The Dhi-Qar council will prepare a plan to invest the oil revenues in the province, a member of the council’s economic committee said on Monday. “A committee has been formed by the Dhi-Qar council and the province’s oilfields authority to invest the one billion dinars oil revenues,” Mona al-Safi told Aswat al-Iraq news agency. “The […]
Majlis Energy Committee Chairman Hamid-Reza Katouzian has warned about the sluggish pace of the development of Iran’s joint oil fields with Iraq and other Persian Gulf states. Katouzian blamed inadequate investment, wrong policies, and improper decisions in Iran’s oil sector for the slow progress in the oil sector. “Unfortunately, sometimes decisions that are made without […]
The Kurdish areas of northern Iraq should resume oil exports “immediately,” without waiting for clearance from the finance ministry, Iraqi Oil Minister Hussain Al-Shahristani said. Kurdistan should not wait for an agreement on payments to foreign companies before resuming oil exports, he said in an interview in Baghdad today. “We have informed them that they […]
“The revenues during the first four months of 2010 were around $223.3 million,” Ahmed al-Silaiti, deputy head of the Basra Provincial Council, told Aswat al-Iraq news agency on Saturday.
Crude oil markets have no room for additional supplies this year, the Organization of the Petroleum Exporting Countries (OPEC) said on 9 June, as it reported that its members had increased output last month.
"We resumed pumping to Ceyhan port on Friday with a test flow rate between 300,000 to 350,000 bpd and flow will be back to normal rates within 24 hours," the official told Reuters.
Iraq's government said it plans to embark on a roadshow June 27 to attract investments for projects including four domestic refineries worth more than $3 billion, pan-Arab Al Hayat daily reports Thursday.
