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 […]
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.
Iran MP Warns on Slow Development of Joint Oil Fields
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 […]
Kurdistan Should Resume Oil Exports, Minister Says
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 […]
Basra - Oil and Gas Revenues Exceeds $223m in 4 Months
“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.
Tags: oil revenues
No Room for More Crude Oil in Markets
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.
Tags: OPEC
Iraq Resumes Turkish Exports
"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.
Four New Refinery Projects Worth $3bn
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.
Tags: Investment, Refinery
Sterling Energy Update on Sangaw Well in Kurdistan
Sterling, the AIM listed independent oil & gas exploration and production company with interests in Africa and the Middle East has provided the following update on its activities: The Sangaw North #1 exploration well is currently drilling ahead at 1,505 metres. Since the last update on 7 May 2010 two intermediate casing strings have been […]
No Need to Increase Supply
Iraq, the only OPEC member not subject to quotas, experienced the largest rise in the month, with 121,300 barrels a day.
Tags: Iraq Oil Production News, OPEC
Kirkuk Ceyhan Pumping Likely to Resume Thursday
The pumping of Iraq's Kirkuk crude through Turkey to the Mediterranean terminal of Ceyhan is expected to resume Thursday
Debt Crisis Weighs on Oil
It says any improvements seen so far in world oil demand have been "overwhelmed" by increased supply and persistent worries about the stability of the world's economic recovery.
Tags: Debts, Iraq Oil Production News
Natural Gas could Make Nabucco Pipeline Feasible
A minister from the semi-autonomous region of Northern Iraq said the area could provide natural gas to make the Nabucco pipeline feasible, EurActiv reported with reference to Northern Iraqi Energy Minister Ashti Hawrami. "We can provide 14 or 15 billion cubic metres to make the project work," said Hawrami. According to him, Northern Iraq is […]