Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
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
Norwegian oil and gas producer DNO International (DNO.OL) gave no guidance as to when it expects to restart oil exports from Iraq when it published first-quarter results that beat forecasts on Tuesday.
The monthly report from the Organization of the Petroleum Exporting Countries, which pumps more than one in every three barrels of oil, said demand would rise by 950,000 barrels per day (bpd) in 2010, 50,000 bpd higher than previously forecast.
Norwegian oil and gas producer DNO International (DNO.OL) gave no guidance as to when it expects to restart oil exports from Iraq when it published first-quarter results that beat forecasts on Tuesday. "The process is moving ahead but we have no information about when things will happen," Managing Director Helge Eide told a news conference. […]
An official source with the Oil Ministry said the ministry is currently developing several oilfields shared with neighboring countries including the oilfield, "Badra" with the Iranians.
Iraq plans to boost power capacity to 27,000 megawatts in four years after opening its gas sector with a contract awarded to Royal Dutch Shell, this will need an investmnt of at least $3 billion to $4 billion per year, Iraq’s Electricity Minister Karim Waheed told Reuters on Sunday.
