The latest Gas & Oil Security News – Iraq gas reserves, security analysis, flaring, Shell, Maysan, Basrah, Kurdistan, Baghdad and more – brought to you by Iraq Business News
By John Lee. A spokesman for the Electricity Ministry, Musab al-Mudaris, confirmed on Tuesday that Iraq has signed a deal with Iran to import natural gas for power generation. Associated Press reports that under the four-year deal, Iraq buy 850 million cubic feet a day of gas at international market prices, but UPI says no […]
By John Lee. Iranian deputy oil minister Javad Owji [Ouji, Oji] (pictured) says the country’s revenues from the planned export of natural gas to Iraq will reach $1.5-$2 million a day. According to a report from PressTV, he went on to say that Iran will start delivering gas to its western neighbour within three months. […]
By John Lee. Iraq's Oil Ministry has unveiled its five-year plan for the development of the country’s natural gas riches. Azzaman reports that the plan calls for production of five million cubic meters of gas by the end of the five-year period, with new exploratory blocks up for grabs. An oil ministry spokesman said that […]
By John Lee. Iraqi Oil Ministry spokesman Asim Jihad has told Aswat al-Iraq that Korea’s state-run Korea Gas Corporation (KOGAS) will soon begin work on the first stage of a new pipeline linking Kirkuk to Beiji [Bayji, Baiji]. According to the report, the $128-million project will bring dry and liquid gas from Kirkuk to Beiji, and […]
By John Lee. Iran's Oil Minister, Rostam Qasemi (pictured), says his country is expected to start exporting natural gas to Iraq by the end of the next Iranian year (to start March 21, 2013), reports the Iranian news agency PressTV. Last year, the oil ministers of Iran, Iraq and Syria agreed to construct a pipeline […]
Many are concerned that conditions could worsen in Iraq once the US military has withdrawn its forces from the country. Troops are required to leave by the end of the year and the pullout is already well underway. Hundreds of transport vehicles are currently snaking their way south towards the Kuwaiti border. Most of the […]
Iraq is expected to compete with both Iran and Russia in the natural gas market in Turkey and Europe, thanks to its geographic location and prices, according to a report from Al Sumaria TV. A marketing expert on the sidelines of the Kurdistan Oil & Gas conference told the agency: “The European Union has real […]
Iraq is looking for $1.5 billion [1.8 trillion Iraqi dinars] in investment in its natural-gas industry in the country’s 4th energy licensing round, set for March, according to Bloomberg. Natik al-Bayati, a senior petroleum expert on the prime minister’s advisory commission, said that gas from the seven or eight concessions to be offered for bids […]
At least 76 people were killed and 184 injured in nationwide attacks in Iraq last week. This is a rise from the previous week and largely attributable to a series of attacks in Baghdad. A series of bombing and suicide attacks targeting the police in the capital left numerous people dead on 12 October. The […]
Iraq's oil ministry has signed a final deal with Korea Gas Corp. (KOGAS) to develop its Akkas gas field in the western province of Anbar, according to Reuters. Along with Kazakhstan’s KazMunaiGas, KOGAS won the rights to develop the Akkas field during Iraq’s third energy bidding round last October. But KazMunaiGas pulled out of the […]
Iraq's cabinet has approved a contract with South Korea's KOGAS to develop the Akkas [Ukaz] gas field in western Anbar province, the country's largest, according to a report from Reuters. The cabinet approved the deal on Sept. 13 and the source said it will be signed Oct. 15. "Final signature of Akkas gas deal with Kogas […]
Iraq’s oil wealth is massive, with significant economic potential for years to come. Unfortunately, development is being hampered by endemic violence and ongoing instability. However, the main reserves are not evenly distributed around the country and neither is the violence. By avoiding the violent hotspots companies can still make significant profits with minimal exposure to […]
