Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Royal Dutch Shell Plc, which won contracts last year to develop two Iraqi oilfields, is still in talks on a plan to capture and sell natural gas there, the company’s Middle East vice president for new business said.
On Wednesday, Anbar deputy governor said , the next stage they will focus on oil wealth, particularly in Ukaz and Znkurh areas for upgrading economics of the province.
Iraq's Majnoon oilfield is targeting production of 175,000 barrels of oil equivalent per day in 2012, a senior Royal Dutch Shell executive said on Monday.
"Iraq has been struggling to meet 2 million b/d for years," says Majid Jafar, executive director at Crescent Petroleum. "Now in the run-up to the elections, the government has been proposing a 12 million b/d target, which is ludicrous.
Ministry of oil reiterated requests for importing companies of Iraqi crude oil to announce the size and numbers of payments to the country
In Vienna for an OPEC meeting last week, Shahristani said Baghdad would participate in OPEC agreements to curb oil supply when output reached 4 million bpd, some 8 million bpd short of Iraq's envisaged target.
“The Japanese-Malaysian consortium started initial works to upgrade al-Gharraf oilfield, north of al-Nasseriya,” Kareem Yasser Hashem, the director of oilfields in Thi-Qar said.
A Kuwaiti project to drill an oil deposit shared with Iraq has sparked outrage in Iraq's southern oil province of Basra.
Last week as many as 700 workers at the 150,000 barrel per day refinery 16 kilometers west of Basra held a three-hour strike.
Iraq's Kurdistan region is ready to start exporting oil at a rate of 100,000 barrels per day as soon as a new Iraq government is formed, its Natural Resources Minister Ashti Hawrami said today.
Turkey strengthened its energy ties with Iraq by renewing a contract to import Iraqi oil to the Turkish Mediterranean Sea port of Ceyhan, where Azerbaijani oil also arrives via the Baku-Tbilisi-Ceyhan pipeline.
It has been an exciting few weeks in Kuwait where the Government approved a $104bn development plan - the proximity and historic links to Basra where similar high impact developments in the oil and gas sector are starting, promises to create economic heat in the North of the Gulf.
