Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for June: Total exports of crude oil: 100,059,052 barrels Revenues from crude oil exports: $7.179760 billion Oil fields in central and southern Iraq accounted for 98,725,620 barrels of crude oil exports. Exports from Kirkuk through the port of Ceyhan have been suspended. Oil […]
By John Lee. Mr. Hayan Abdul Ghani, Deputy Prime Minister for Energy and Minister of Oil, welcomed Mr. Ivan Romanovski, Lukoil's Vice President for the Americas, Africa, and the Middle East, along with the accompanying delegation, including Mr. Alexey Yakovlev, General Manager of Lukoil Middle East Limited, and the company's Baghdad office director. During the […]
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. KRG hands over 50-60K barrels of oil to Baghdad since mid-June, says official The Kurdistan Region of Iraq (KRI) has handed over about 50,000-60,000 barrels of oil per day to Baghdad since mid-June, as […]
By Julianne Geiger for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. New Revenue Sharing Scheme Could Lead To Iraqi Oil Renaissance Iraq has been looking to bring foreign oil company money and expertise into the fold, and it looks like it […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani, has inaugurated new projects intended to sustain and increase production in the West Qurna 1 oil field, which has current production at 560,000 barrels per day (bpd). The projects include a water treatment unit with a capacity of 235,000 barrels per day, aimed at optimizing water […]
By John Lee. The governments of Iraq and Lebanon have signed a Memorandum of Understanding (MoU) wherein Iraq will supply Lebanon with quantities of fuel and crude oil. The agreement, in line with Cabinet Decision No. 23265 in 2023, aims to support Lebanon's electricity sector and strengthen cooperation between the two countries, serving their mutual […]
By John Lee. China's Zhongman Petroleum and Natural Gas Group Corporation (ZPEC) has signed a major drilling engineering service contract for Iraq's giant Rumaila oilfield. The contract was signed on Sunday with the Basra Energy Company Limited (BECL), which was set up in 2021 to operate the field, and announced to the markets on Wednesday. […]
By Bilal Wahab and Dennis Ross, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's Power Problem (Part 2): Implications of the New Oil-for-Gas Deal with Iran Baghdad hopes to avoid power cuts, political turmoil, and […]
By John Lee. A report from Telegraph India suggests that ONGC Videsh Ltd (ONV) is considering resuming operations in Iraq. The company received the rights to Block 20 in the Western Desert (then known as "Block 8") in 2000, but declared force majeur in 2003 due to the security situation at that time. According to […]
By Firas Elias for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Hakan Fidan and the New Turkish Diplomacy in Iraq As Minister of Foreign Affairs, Hakan Fidan (pictured) will have to navigate urgent changes and new […]
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. Why TotalEnergies' $27 Billion Deal With Iraq Is A Gamechanger The long-delayed US$27-billion four-pronged megadeal between France's TotalEnergies and the Federal Government of Iraq has received the final go-ahead from […]
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. Iraq Takes First Step Towards Becoming The World's Biggest Oil Producer Iraq's parliamentary oil and gas committee plans to increase the country's oil production to more than five million barrels […]
