The Oil Ministry now specifying (in a document on its Web site) that by late 2014 its overall production capacity should have already almost doubled from today's 2.4 million b/d.
Iraqi Oil Ministry Sets 2014-15 Targets for Crude and Gas Output
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.
Tags: Ministry of Oil
Basra expects big participation at oil fair
The fair, which will be held between Nov. 25 and Nov. 28, aims to enhance the war-torn country's economic development, while focusing on Iraq's contribution to the future world energy supply.
Tags: Basra News, Exhibitions
Iraq Takes Extra Security Measures to Protect Oil Fields
Iraq has begun implementing extra security measures to protect oil fields in and around the south-eastern city of Basra, security sources announced on Wednesday.
Tags: pipeline
TNK-BP and IOCOI Establish a Joint Venture to Develop Fields in Iraq
TNK-BP Holding and Iraq Oil Company for Oil Investments (IOCOI) have signed an agreement to establish a joint venture aimed at identifying potential projects to acquire, develop and operate oil and gas fields on the territory of Iraq.
Iran Exports 1.5 Million Litres of Fuel a Day to Iraq
Iran has agreed to ship 1.5 million liters of fuel to breathe life into some Iraqi power plants made idle due to fuel shortages. The agreement was struck during a visit by a high level Iraqi delegation to Tehran, a statement by the Ministry of Electricity said. The agreement comes as power outages have worsened […]
Russia's TNK-BP Creates JV to Tap Iraqi Oil and Gas
Russia's TNK-BP, half owned by BP, has establish a joint venture to develop oil and gas fields in Iraq, TNK-BP said on Wednesday. It said, it has signed an agreement with the Iraq Oil Company for Oil Investments (IOCOI) to establish the venture. "The two companies will consider joint acquisition of fields with commercial reserves […]
Tags: Oil & Gas
Iraq to Launch Gas Field Auction: Ministry
Iraq is set to call for bids from energy firms to develop its gas fields, the oil ministry said on Wednesday, as the war-ravaged country seeks new revenue sources to rebuild its battered economy. "The ministry will announce tomorrow (Thursday) the launch of a tender to develop gas fields and it will invite international companies […]
Iran, Iraq to Develop 5 Oilfields
Iran and Iraq have come to an agreement to provide a Master Development Plan (MDP) for the development of 5 shared oilfields
Iran-Iraq Oil Pipeline Closer to Construction
Iraq is planning to establish a pipeline between the southern Iraqi city of Basra and the Iranian city of Abadan to expand its exports capacity, Econews reported.
Government Amends Law to Encourage Investments in Refining Crude Oil
The Council of Ministers approved on Thursday the first amendment of the special investment draft law in refining crude oil to encourage the Iraqi and foreign private sector to invest in this field
Tags: Investment, refining
US firm sees Iraq oil sector growth in phases
'Two or three years down the road, if they don't have a satisfactory judicial, fiscal and political atmosphere, they will hesitate before they go into the very large spending that will be required for the new development,'
Tags: Schlumberger
Iraq Oil Bases Sprout as Halliburton Chases Growth
Schlumberger Ltd., Halliburton Co. and Baker Hughes Inc. are among companies this past week that said they’re expanding operations in Iraq. Weatherford International Ltd., the fourth- largest oilfield-services provider by market value, will expand staff in Iraq to more than 1,000 by July, Chief Executive Officer Bernard Duroc-Danner told investors yesterday