It says any improvements seen so far in world oil demand have been "overwhelmed" by increased supply and persistent worries about the stability of the world's economic recovery.
Debt Crisis Weighs on Oil
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: Debts, Iraq Oil Production News
Natural Gas could Make Nabucco Pipeline Feasible
A minister from the semi-autonomous region of Northern Iraq said the area could provide natural gas to make the Nabucco pipeline feasible, EurActiv reported with reference to Northern Iraqi Energy Minister Ashti Hawrami. "We can provide 14 or 15 billion cubic metres to make the project work," said Hawrami. According to him, Northern Iraq is […]
Transneft Backs Turkish Crude Quota
Russia’s oil pipeline monopoly Transneft may support quotas on oil shipments through Turkey's straits to fill a pipeline to the Mediterranean. Transneft may take up to a 50% stake in the $3 billion Samsun-Ceyhan pipeline project, co-led by Italy's Eni , that will link the Black Sea and the Mediterranean and advance Turkey's plan to […]
Tags: Oil & Gas, Turkish Crude Quota
Kirkuk Pipe rupture was sabotage
A pipeline rupture that halted Iraq's crude oil exports to the Turkish Mediterranean port of Ceyhan was caused by sabotage and could take up to five days to fix, a source at Iraq's North Oil Company said today. The rupture halted oil flow from Iraq's northern fields to Ceyhan on Sunday. "After examining the oil […]
Iraq Signs Agreement with Norway
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 […]
Malfunction Stops Iraq’s Oil Pipeline to Turkey
Iraqi oil exports through the pipeline to Turkey have been stopped due to technical malfunctions on the Iraqi side.
Baghdad Puts Gas Trio on Table
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 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.