Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
"The delegation of the British company announced that the production of oil from Rumaileh field will increase by about 10% at the end of the year, while the rate will increase to about 50% at the beginning of next year
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.
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.
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.
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 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, 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 […]
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 and Iraq have come to an agreement to provide a Master Development Plan (MDP) for the development of 5 shared oilfields
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.
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
'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,'
