Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. The Deputy Minister of Oil for Gas Affairs, Ezzat Saber (pictured), emphasized the urgency of accelerating the investment in associated gas from oil operations at the Bazargan field in Maysan province. The goal is to harness 70 million standard cubic feet per day (MMSCFD) to support and enhance the energy sector, generating […]
By John Lee. The Ministry of Oil has begun supplying the second unit of the Dibis Gas Power Plant in Kirkuk Province with 25 million standard cubic feet per day (MMSCFD) of dry gas. Deputy Minister of Oil for Gas Affairs, Mr. Izzat Saber, said this supply is expected to contribute an additional 85-100 MW […]
By John Lee. Jordanian Minister of Energy and Mineral Resources, Dr. Saleh Al-Kharabsheh (pictured), announced that the Iraqi Cabinet has approved the extension of the crude oil supply memorandum of understanding (MoU) between the Iraqi Ministry of Oil and the Jordanian Ministry of Energy and Mineral Resources. The MoU, initially signed on May 4, 2023, […]
By Marina Ottaway, for The Wilson Center. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq and the Demise of Federalism A major legacy of the US occupation of Iraq was the introduction of federalism, a first for the entire region. Federalism has been […]
By John Lee. The Iraqi government has given brick factories 18 months to switch from using "black oil" to liquefied gas. "Black oil" or "dark oil" is also sometimes referred to as "residual fuel oil", "bunker oil" or "heavy fuel oil (HFO)". It is a heavy, viscous byproduct of the refining process for lighter fuels […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Serious and Impacting Discrepancies in Estimating Oil Export Prices and Revenues A comparison of available data on oil export prices and revenues for the first four months of this year reveals significant […]
By John Lee. Jordan's Minister of Energy and Mineral Resources, Dr. Saleh Al-Kharabsheh, announced that from May 4, 2023, to June 30, 2024, Jordan imported approximately 5 million barrels of Iraqi oil. The oil was transported by Iraqi and Jordanian tankers from Kirkuk to the Jordan Petroleum Refinery in Zarqa (pictured). This import is part […]
By John Lee. Turkmenistan and Iran have signed a contract for the purchase and sale of natural gas in the amount of up to 10 billion cubic meters of gas per year, which will be supplied from Turkmenistan to Iraq through Iran under a swap scheme. The agreement was signed following negotiations between Turkmenistan and […]
By John Lee. During the first half of 2024, the Iraqi Drilling Company (IDC) successfully drilled and rehabilitated 105 oil wells across various oil fields. General Manager Khalid Hamza Abbas reported that the company's technical and engineering teams drilled 33 new wells and rehabilitated 72 others for both national extraction companies and international firms operating […]
From the Iraq Britain Business Council (IBBC): The IBBC 15th Anniversary Mansion House conference presented a range of engaging ministerial and business attendees. As Iraq's economy is expanding and diversifying, the delegates reflected this in the range of topics and debates. Baroness Nicholson and Christophe Michels welcomed everyone at this milestone time and thanked all […]
By John Lee. Angola's Sonangol has signed a contract with the Iraqi Oil Exploration Company to carry out a 3D seismic survey of its Qayara [Qayarrah] oil field in Nineveh Province. The Ministry's Undersecretary for Extraction Affairs, Bassem Mohammed Khudair, said: "This contract aligns with our strategic vision for the oil sector by involving national […]
By John Lee. Iraq's Oil Ministry has signed a contract with China's Geo-Jade Petroleum for a 2D and 3D seismic survey of the Naft Khana oil block in Diyala Province. According to a statement from the Ministry, the signing ceremony took place at the Ministry's headquarters on Sunday. The Ministry's Extraction Affairs Deputy, Bassem Mohammed […]
