By John Lee. The Iraqi Minister of Oil, Hayan Abdul-Ghani, has said that Iraq wants to increase production capacity of the giant Rumaila oilfield by 300,000 barrels per day (bpd). This would give it a potential output of 1.7 million bpd. He made the statement during his visit to to the field earlier this week, […]
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. Will Iraq Finally Start To Use Its Natural Gas Reserves? It has long been a point of extreme contention with the U.S. that Iraq continues to rely on neighbouring - […]
By John Lee. Basrah Gas Company (BGC) has obtained endorsement from its shareholders to gather and process an additional 80 mmscf/d of the flared gas. On the 30th of November 2022, BGC's shareholders (South Gas Company 51%, Shell 44% and Mitsubishi 5%) signed the Final Development Decision (FDD), at the Higher Management Committee meeting, to […]
For years gas flaring has been out of control in Iraq, as oil majors have made millions of pounds in the country, according to a new report from Greenpeace. It says that some locals fear that pollution from the flaring is contributing to high rates of leukaemia and other cancers among those living in nearby […]
UK-based Aggreko has announced that it has completed commissioning of the largest flare-gas-to-power project in the Middle East to date at 165 MW capacity. The plant is situated nearby the Saqala [Sarqala] Field, Garmain block, South East Kurdistan. The 165 MW modular power plant has run at full capacity for 72 hours in the project's […]
By John Lee. Iraq reportedly plans to invest $3 billion annually to transition from burning liquids to burning natural gas in its power plants. Deputy Prime Minister and Finance Minister, Ali Allawi (pictured), told the Middle East Green Initiative Forum in Saudi Arabia that Iraq will also end gas flaring by 2025. He also recommitted […]
By John Lee. Shell is reported to be in talks with Iraq to boost Basra Gas Company's capacity. According to S&P Global Platts, BGC is planning to increase capacity for gas production from 1 billion cubic feet per day (Bcf/d) now to 1.4 Bcf/d in two years; discussions with Shell could see that increase further […]
By John Lee. Iraq's South Gas Company (SGC) has announced a project to capture gas at the Nasiriyah and Garraf [Gharraf] oil fields, in partnership with the American company Baker Hughes. Instead of flaring, the gas will be used to increase electricity generation, while reducing the environmental impact of oil production. The project will also […]
By John Lee. The Iraqi cabinet has approved the agreement between the Ministry of Oil and French company TotalEnergies to implement four major energy projects in the country: Plants to collect and refine associated natural gas at the fields of Artawi [Ratawi], West Qurna 2, Majnoon, Tuba [Subba] and Lahais [Luhais]. This will include a […]
The International Finance Corporation (IFC), a member of the World Bank Group, is investing in Basrah Gas Company (BGC) to support one of the largest gas flaring reduction projects in the world, helping to improve energy access, prevent associated greenhouse gas (GHG) emissions and support a more resilient, sustainable energy sector in Iraq. BGC is […]
Iraq Moves To Exploit Its Massive Natural Gas Reserves Writing in Oil Price, Simon Watkins says that despite Iraq's huge potential gas resources, it has made little progress on developing this potential either for associated or non-associated gas. But last week, a heads-of-agreement deal was announced with Total, to work jointly on four major projects […]
By John Lee. Iraq's Ministry of Oil has signed an agreement of principles with the French company Total for four major energy projects in the country: Plants to collect and refine associated natural gas at the fields of Artawi [Ratawi], West Qurna 2, Majnoon, Tuba [Subba] and Lahais [Luhais]. This will include a Central Gas […]
