Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Minister says $1b project to raise export capacity to 4.5m bpd by 2012 is on track Iraq expects crude output to increase by about 600,000 barrels per day (bpd) through 2011, based on initial plans from global firms for oilfields that were auctioned off last year, a senior oil official said yesterday. Deputy Oil Minister […]
Shares in Gulf Keystone (GKP.L) rise 18 percent, making the oil explorer one of London's top risers, on positive sentiment after Iraq approves a Kurdish oil exports deal which could allow oil exports to resume from the semi-autonomous region. [ID:nLDE64H1NN] "The agreement shouldn't really do much to Gulf Keystone because they don't plan on exporting […]
Iraq’s government approved an accord between the oil ministry and Kurdistan to export crude produced in the semi-autonomous region through a marketing company, paving the way for shipments to resume. Companies including DNO International ASA and Genel Enerji AS halted oil exports from Kurdistan in October, about four months after they started, because there was […]
Iraq, which last year awarded ten contracts to oil majors, expects to boost oil output to 3.2 million barrels per day (bpd) by the end of 2011, a top official said.
The Iraqi oil ministry is set to sign a contract with a Turkish-Chinese consortium to develop three new oil fields in the country's southern area, an Iraqi oil official said Sunday.
Mr. Fu Chengyu, Chairman and CEO of the Company welcomed the signing of the TSC and commented, "It is a great pleasure to participate in rebuilding Iraqi's oil industry together with TPAO.
Iraqi Oil Minister Hussain al-Shahristani said on Monday the Oil Ministry was considering inviting foreign oil companies to develop the Middle Furat oilfields.
Oil exports from Iraq's semi-autonomous northern Kurdish region will start only after the formation of a new Iraqi government, the region's natural resources minister said.
State-run Turkish Petroleum Corp., known as TPAO, has decided to join Cnooc Ltd. the Hong Kong-listed unit of China Offshore Oil Corp. to develop Iraq's Missan oil field complex in southern Iraq, a senior Iraqi Oil Ministry official said Thursday.
The Investment Commission in Anbar Province said that the Province Council has strong reservations over the Iraq Ministry of Oil’s intention to included the Ukaz gas field in its third round bid. The commission said that it will cooperate with the upcoming government if it establishes a plan of cooperation with the province council over […]
Iraq will supply crude to at least two Asian buyers at around 10 percent below contract volumes for June, possibly the first major cut in allocations by the OPEC producer this year, industry sources said on Wednesday. The cut was on medium-heavy Basrah Light crude, they said. It was not immediately known why Iraq cut […]
Iraq’s two remaining supergiant oilfields, Kirkuk and East Baghdad, are not on the table for joint development with international oil firms following two oil contract bidding rounds last year
