Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. At the COP28 conference in Dubai, Iraq will reportedly not agree to a phasedown or phaseout of fossil fuels, while it has already begun with steps to reduce emissions. An adviser to Iraq's oil ministry told S&P Global Commodity Insights at COP28 in Dubai that Iraq will agree to phase down emissions, […]
From the Iraq Britain Business Council (IBBC): IBBC's two-day conference success 'Building a sustainable future for Iraq'. IBBC held an expanded two- day conference in Dubai to coincide with Cop 28 to focus on 'a sustainable future for Iraq', with one day dedicated to Education and Training and one for Business, Investment, and Energy. IBBC […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Why Iraq's oil tanker ambitions have not made it to deep waters Shipping is one of many sectors where Iraq is still playing catch-up after decades of conflict. To this end, the Iraqi […]
By John Lee. International oil companies operating in Iraqi Kurdistan have been excluded from ongoing discussions regarding the production and export of oil from the Region, according to the trade body representing them. A statement from the Association of the Petroleum Industry of Kurdistan (APIKUR) on Tuesday said: "APIKUR member companies -- which represent the […]
By John Lee. Iraq's Ministry of Oil has announced preliminary oil export figures for November: Total exports of crude oil: 102,975,782 barrels. Revenues from crude oil exports: $8.512 billion. Oil fields in central and southern Iraq accounted for 101,764,620 barrels of crude oil exports. Exports from Kirkuk through the port of Ceyhan have been suspended. […]
By John Lee. Starting from January 1, 2024, Iraq will implement a voluntary additional reduction of 220,000 barrels per day (bpd) in coordination with some OPEC+ member countries. This will bring Iraq's total oil production to 4 million barrels per day until the end of March 2024. Post that period, and to support market stability, […]
By John Lee. Prime Minister Mohammed Shia al-Sudani has chaired a special meeting on carbon emissions, attended by ministers of oil, electricity, and environment, along with energy advisors and sector specialists. He directed the formation of a public company for carbon economies under the Ministry of Environment and instructed the regulation of energy contracts in […]
The Iraq Britain Business Council (IBBC) has announced more leading speakers for its Dubai conference on 7th and 8th December, including H.E. Mr Zyad Ali Fadhil, Minister of Electricity, Dr Samir Al Waely, CBI, Dr Abdulkareem, AL Faisal, Chairman of PM's advisory council, Ms Begard Talabani the Minister for water resources and agriculture, Dr Salar […]
By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Russia Takes Control of Iraq's Biggest Oil Discovery for 20 Years The Eridu field - part of Iraq's Block 10 exploration and development region - is the biggest oil find […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for October: Total exports of crude oil: 109,545,589 barrels. Revenues from crude oil exports: $9.594 billion, the highest since July 2022. Oil fields in central and southern Iraq accounted for 108,050,360 barrels of crude oil exports. Exports from Kirkuk through the port of […]
By John Lee. The Iraqi Cabinet has endorsed the Energy Ministerial Council's recommendation (No. 23093 for 2023) regarding the gas investment project in the Nahr Bin Umar field. The key points include: Recommending the exclusion of the gas investment project from Cabinet Decision No. 245 of 2019, amended by Cabinet Decision No. 23374 of 2023, […]
By John Lee. The Iraqi Ministry of Oil and its subsidiary, the Oil Products Distribution Company, have decided to implement electronic payment systems at all fuel stations starting January 1, 2024. The Ministry says it will also suspend cash handling from this date, adding that this move aligns with government guidelines to enhance efficiency, automate […]
