The LUKOIL-Statoil consortium could begin producing oil at the West Qurna-2 oil field in Iraq in 2013, LUKOIL Vice President Andrey Kuzyayev said. LUKOIL’s capital investments in the project could be as much as $3.7 billion, the Oil and Gas Information Agency reports. LUKOIL President Vagit Alekperov said his company could increase investments in 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.
Anbar Will Focus on Oil
The deputy governor of Anbar on Wednesday said that the province will focus on its oil wealth, particularly in the areas of Akaz and Zankawa, in an attempt to boost its economy. “The local government’s interest in the oil sector will provide outstanding job opportunities for youth and will ensure a revenue that adds to […]
Residential Compounds for Oil Companies in Basra
An investment permit will be given to an Iraqi-Turkish company to establish residential compounds for oil firms in Basra, a local source said on Tuesday.
Turkey Says Iraq Oil Deal Talks Underway
Turkish Natural Resources Minister Taner Yildiz said on Tuesday that a new agreement would be signed with Iraq soon about Kirkuk-Yumurtalik crude oil pipeline.
South Refinery Staff to Sit-in
Staff of the South Refineries Company in three southern Iraqi provinces will launch a sit-in on Wednesday
Turkey Oil Talks Underway
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 […]
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"