The Iraqi Oil Ministry is planning to hold a third licensing auction to develop three discovered gas fields Akkas, Mansouriya and Siba by the end of this year.
Iraq Plans New Licensing Auction for 3 Gas Fields
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.
New State Owned Oil Company - Midland Oil Co.
The Midland Oil Co will help ease the burden from the North, South and Maysan oil companies that are currently overseeing the 10 major oil projects awarded to western oil companies last year.
Iraq Favours Shell, Total, KOGAS for Gas Fields
Iraq will invite 15 companies before the end of the year to bid to develop three gas fields and Royal Dutch Shell, Total and South Korea's KOGAS are the favourites.
Iraq Agrees to reduce signature bonuses on oilfields ..... but
Iraq's Oil Ministry has slashed signature bonuses on two oilfield development deals ...... but is turning them into unrecoverable payments.
Iraq, Kurdistan Closer to Solution on Paying Oil Firms
Kurdish and federal Iraqi officials have agreed on potential mechanisms for paying oil firms operating in the Kurdish north but the proposals must be approved by the Iraqi cabinet.
Tags: Kurdistan News, Oil Deals
Council of Ministers Agrees to establish Oil Company
The Council of Ministers agreed on Tuesday on the proposal presented by the Oil Ministry to establish the Central Oil Company (COC) with a capital of 100 billion Iraqi dinars.
Tags: Central Oil Company
The Political Hydraulics of OPEC
OPEC is a maddeningly opaque outfit; its public pronouncements frequently seem carefully crafted to conceal its private calculations. The 12-member cartel controls about one-third of the world’s daily oil supply — not quite enough to give it absolute control over the price per barrel, but enough to allow it to consistently manipulate the price to […]
Shell Faces ‘No Difficulty’ on Gas - Iraq
Iraq and Royal Dutch Shell Plc can reach an agreement on a gas project by extending negotiations for another six months in order to settle storage issues, Oil Ministry spokesman Asim Jihad said. Jihad said there were “no difficulties” in the talks, except that “storage places are currently not ready.” “There is no harm in […]
IEA: Oil Prices Could Hurt Economic Recovery
Recovery in the world's biggest economies could be jeopardized if crude oil prices stay over $80 per barrel, the International Energy Agency said Tuesday. The IEA also reported that OPEC posted the first "significant decline" in output in March in more than a year -- falling 190,000 barrels per day to 29 million barrels a […]
Solution Closer on Paying Oil Firms
Kurdish and federal Iraqi officials have agreed on a potential solution to the problem of paying oil firms operating in the Kurdish north. They require approval by the Iraqi cabinet, a Kurdish official said to Reuters. Abdul Karim Louaibi, Deputy Ol Minister and a delegation travelled to Erbil on Sunday and held talks with natural […]
Tags: Oil & Gas
Oil Ministry: licenses of first and second rounds will not be reviewed
The licenses of the first and second rounds of the Oil contracts will not be affected by the governmental changes and there is no third licensing round in the future.
Tags: Oil Deals, Sharristani
Foreign Investment Continues, as Lukoil Announces Plans
Foreign direct investment continues in Iraq as the pace picks up on the rehabilitation of the country’s infrastructure and economic base. Russian-based LuKoil is to drill its first exploration well at Iraq West Qurna 2. Mr. Vagit Alekperov CEO of LUKoil said that Russia’s largest privately held oil company, LUKoil, "[will] start drilling the first […]