Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq, Iran oil-gas swap deal to continue until end of 2023 Iran has resumed the supply of natural gas to Iraq nearly two weeks after it had cut down its exports to the neighboring […]
By John Lee. India has reportedly started talks with Iraq regarding building facilities to liquefy natural gas that is currently flared, and transporting it as liquefied natural gas (LNG) to India. The Indian Express quotes an anonymous senior Indian official as saying, "we are exploring if our companies can set up plants in Iraq to […]
By John Lee. The Iraqi Cabinet has approved the recommendation of the Energy Ministerial Council for the construction of a third offshore oil export pipeline, sometimes referred to as "Sealine 3" or "SL-3". The 48-inch pipeline will have a capacity of 2 million barrels per day (bpd), and is planned to be completed in 400 […]
By John Lee. The Iraqi Cabinet has approved a recommendation from the Ministerial Energy Council directing the Ministry of Oil's Dhi Qar Oil Company (DQOC) to invite the Italian company Progetti Europa & Global S.p.A. (PEG) to install and operate a "wet oil processing unit" at the Nasiriyah Gas Isolation Station. The plant will have […]
By John Lee. In an effort to address the electricity crisis and overcome financing and sanctions-related challenges, Iraq and Iran signed an agreement on Tuesday in Baghdad, involving the exchange of Iranian-imported gas for Iraqi oil. Representing the Iraqi side, Mr. Ihsan Yaseen Al-Awadi, Chief of Staff to the Prime Minister, signed the agreement, while […]
By John Lee. The US President has welcomed the finalization of Iraq's Gas Growth Integrated Project (GGIP) with French firm TotalEnergies. In a statement, the White House said the project is a major step towards energy self-sufficiency and meeting its climate goals. Full statement from the White House: We welcome the finalization of Iraq's unprecedented […]
By John Lee. Canadian oil development and exploration company ShaMaran Petroleum has announced that all non-essential capital expenditures in the Atrush block (pictured) have been cancelled or postponed, while it engages with bondholders to seek additional balance-sheet flexibility. The company's operations remain heavily impacted by the continued closure of the Iraq-Turkey pipeline (ITP), connecting Iraq's […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Deep Dive: Will Turkey agree to resume oil shipments from northern Iraq? The transfer of crude oil from Iraq to Turkey remains suspended, almost four months after an arbitration ruling found that Ankara […]
By Irina Slav 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 Inks Long-Awaited $27 Billion Energy Deal With TotalEnergies The government of Iraq and TotalEnergies have signed a long-awaited deal worth $27 billion that should see Iraq's oil production grow […]
From Tasnim, under Creative Commons licence. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The oil ministers of Iran and Iraq held talks in the Austrian capital of Vienna on Friday on the implementation of joint oil projects. Iranian Oil Minister Javad Owji and […]
By John Lee. The Iraqi Ministry of Oil has signed four contracts, reportedly worth a total of $27 billion, with the French company TotalEnergies. The contracts cover a range of projects, including the development of the Ratawi [sometimes called Artawi] oil field, the construction of a 1GW solar power plant, and the transportation of seawater […]
By John Lee. Khalid Hamza, the General Manager of the Iraqi Drilling Company (IDC), has said the company has completed the drilling or development of 86 oil wells in the first half of 2023. This included the successful completion of the 24th well in the Majnoon oil field, reaching a depth of 3,079 meters, in […]
