Turkish Energy & Natural Resources Minister Taner Yildiz said on Tuesday that a new agreement would be signed with Iraq soon about the Kirkuk-Yumurtalik crude oil pipeline. Speaking to reporters in Ankara, Yildiz said that talks were underway with Iraqi government and Iraqi Petroleum Ministry about the pipeline, and a new agreement would be signed […]
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.
South Refinery Staff to Sit-in Tomorrow
Staff of the South Refineries Company in three southern Iraqi provinces were due to launch a sit-in on Wednesday (March 24) demanding the dismissal of the refinery’s administration and to release their revenues of previous years. “The sit-in will be conducted at the three provinces of Basra, Missan, and Thi-Qar,” a union source told Aswat […]
Tags: Basra News, Oil & Gas
Iraq Oil Exports Hit 57.9m Barrels in February
Iraq exported 57.9 million barrels of crude oil in February 2010 at an oil price of $73 a barrel, the Iraqi Ministry of Oil said on Tuesday. “Iraq has made $4.229 billion U.S. dollars in revenues,” according to a ministry statement received by Aswat al-Iraq news agency. A total of 45.2 million barrels have been […]
PetroChina Sets Sights on the Mideast
PetroChina will be targeting Iraq and Iran and is looking to focus on five projects — the Ahdab, Rumaila and Halfaya oilfields in Iraq, and the North Azadegan and Masjed-i-Suleiman fields in Iran.
Oil cartel fears losing control over supply as Iraqi output hits 20-year high
OPEC fears that its grip on the global supply of oil is being threatened by the rising output of Iraq's oilfields and the prospect of billions of dollars of multinational investment in the world's leading untapped oil resource. Iraqi oil exports in February were at their highest in 20 years, at an average of 2.08 […]
Turkey aims to renew oil pipeline accord with Iraq
Turkey is negotiating the renewal of an agreement on operating a pipeline that carries Iraqi crude oil to world markets and hopes to extend the deal by up to 20 years, Energy Minister Taner Yildiz said on Tuesday.
Russian Lukoil to start drilling Iraqi oil fields before the end of this year
LUKoil, plans to drill the first exploration well at the West Qurna-2 oil field in Iraq, LUKoil CEO Vagit Alekperov said on Wednesday. "We'll start drilling the first exploration well at the end of the year"
A Talk with Libyan Oil Minister Shukri Ghanim
There were predictions before the recent Organization of the Petroleum Exporting Countries (OPEC) conference about the participation of Libyan Oil Minister Dr Shukri Ghanim, because of the existing crisis between the Libyan Jamahiriyah and Switzerland, and the fact that a number of Libyan officials have been put on a Europe-wide travel ban by Switzerland, which […]
Tags: Libyan Oil Minister, Oil & Gas
Blair Took Cash from Korean Oil Firm
Former British Prime Minister Tony Blair is alleged to have received cash from a Korean oil firm run by a former bribery convict for advice on Iraq's oil-rich Kurdistan, according to news reports in Korea. It had been kept secret for nearly 20 months before it was revealed last week. Blair, who has been accused […]
Heritage switches to Mid East
Heritage Oil, this month will sell its Ugandan operations for $1.35bn after more than a decade of development work. writes Miles Johnson in the Financial Times The cash will be used to pay investors a special dividend of between 75p and £1 per share, and to delve into fresh projects in Africa and the Middle […]
New Fuel Cards for Baghdad
The Ministry of Oil has discussed with Baghdad City Council a mechanism for the distribution of fuel and Kerosene Oil to them through a fuel card. “ Mr. Akram has stressed the establishment of a committee, composed of representatives of the Ministry and City Council for the printing of new fuel cards” as the current […]
Tags: fuel cards, Oil & Gas
Over 1 Million Jobless in Iraq
There are more than one million unemployed in Iraq.