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.
Baghdad Puts Gas Trio on Table
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.
Iraq Oil Minister 'not very happy' with OPEC Compliance
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.
Tags: OPEC, Sharristani
Oil Price High Enough to Encourage Investment
“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.”
Tags: OPEC, Sharristani
Iraq Can Meet World Oil Demand, Say Minister
Al-Shahristani said Iraq would open another bid for a major gas exploration project in September.
Tags: licence round, Sharristani
Iraq to Ship Oil and Gas to International Markets through Syria
“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.
Iraq Ministry of Oil - New Oil Refineries
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 Awarded Contract for New Refinery in Iraq
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.
Russian Company Mulls Implementing Oil Projects in Basra
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 […]
AAIB Appoints New Divisional Director
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 […]
Iraq-Iran Eyeing Major Oil Push
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 […]
Tags: Oil & Gas
Kuwait and Iraq Likely to Reach Deal on Border Wells
Chairman and Managing Director of Kuwait Oil Company (KOC) Sami Al-Rushaid expected Tuesday that Kuwait and Iraq would reach an agreement on the exploitation of the oil wells on their border areas soon. Speaking to reporters after the prize giving ceremony of the Chairman's Award for Health, Safety and Environment, Al-Rushaid said the two countries […]
Tags: Oil & Gas
Crude Prices 'reasonable' - Minister
Iraq's oil minister said Tuesday that world crude prices are "reasonable" and are high enough to encourage oil investment without hurting the global economic recovery. Hussain al-Shahristani's remarks in an interview with The Associated Press added to perceptions that OPEC is not eyeing any immediate changes in output despite the past weeks' large price swings. […]