Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Iraq has signed a development agreement of co operation with Norway. A press statement issued by the Foreign Affairs Ministry received by Eye media says that the minister, Hoshiar Zeebari, signed the agreement with Norway's ambassador. The agreement is for development and expansion of cooperation in environment, fund management and competence in oil administration. Zeebari […]
Iraqi oil exports through the pipeline to Turkey have been stopped due to technical malfunctions on the Iraqi side.
Iraq plans to offer three gas fields with combined in-place resources of 25 trillion cubic feet of gas to international bidders “in the coming months”, according to Iraqi Oil Minister Hussain Shahristani.
Iraq's Oil Minister said on Monday current crude prices were fair and not too high to hinder global economic recovery, but added that he was not very happy with OPEC members' compliance with production quotas.
“It’s not expected that there will be much oil available from other parts of the world,” he said. “Any additional demand, particularly from Asia, will have to be met by Iraq.”
Al-Shahristani said Iraq would open another bid for a major gas exploration project in September.
“The sides discussed the possibility of ferrying Iraqi crude to Syria through the present pipeline and exporting it via Baniyas terminal,” according to a statement by the official Syrian news agency, SANA.
Deputy Minister of Oil Ahmad Al Shammaa said that after finishing the design of the refineries the ministry will offer the refineries for foreign investment that would be either complete or in collaboration with the Ministry of Oil.
Foster Wheeler AG announces that its Global Engineering and Construction Group has been awarded a feasibility study and FEED contract by the Iraqi Ministry of Oil - the proposed refinery will have a capacity of 300,000 barrels per day.
A Russian company met with Basra's Governor, Shaltagh Abboud al-Mayah, on Thursday to discuss new investment projects in the oil sector, according to a report from Aswat Al Iraq. “Talks addressed the rehabilitation and reconstruction of the oilfields,” the source said. “The company presented a study on the Basra oilfields and ways to solve their […]
Leading High Risk Insurance Specialist Opens Second Iraq Office AAIB Insurance Brokers, the leading Iraq insurance provider, has appointed Mr Michael Carr FCII as the Divisional Director of its Iraqi registered company Al Fajer Insurance and Reinsurance Brokers. He will be based at AAIB’s latest office to open in Iraq, located in the southern city […]
Both Iraq and Iran are set to play a bigger role in the world's oil markets as the technology to develop heavy oilfields grows, it was revealed. 'While estimates of Iraq's oil reserves suggest it in the region of 112 billion barrels that figure was calculated some 18 years ago,' Iraq-British Business Council chairman Mustafa […]
