The latest news on Iran – Iraq business – gas, oil & electricity Industries & more – brought to you by Iraq Business News
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 […]
By John Lee. Iran has again has blocked the flow of water from the al-Wind [Wand, Alwand, Hulwan] river, in a move which has angered Iraqi farmers and citizens, according to PUKmedia. Protesters are demanding that Iran release water into the river, saying their fertile land turning barren because of the repeated cuts and shortages […]
By John Lee. Iraq’s crude oil production overtook Iran’s last month for the first time since 1988, when the countries ended their eight-year war, reports Bloomberg. Iraq pumped 2.984 million barrels a day in June, versus 2.963 million bpd for Iraq, OPEC said today in its Monthly Oil Market Report. Production from Iran fell ahead […]
By John Lee. Bloomberg reports that Iran has discovered crude reserves near its western Yadavaran oil field along the border with Iraq. Iran's Oil Minister, Rostam Qasemi (pictured), said the discovery of the deposits will add as much as 6 billion barrels to Iran's recoverable reserves. The Yadavaran field, which the country shares with Iraq, […]
Memorandums of Understanding (MoUs) have reportedly been signed between 12 bordering provinces of Iraq and Iran, according to a report from AKnews. The governor of Erbil, Nawzad Hadi, said the memorandums were signed between cities bordering Iran and Iraq at a conference in Iran in the presence of a number of Iranian government officials. "The […]
Flights between Tehran and the Kurdistan Region began for the first time on Monday, said Tehran-based Mahan Airlines. Hossein Hosseini, the Director of Marketing for the airline, said “We are delighted to announce Erbil as our first new route for 2012. We have seen significant growth in Northern Iraq economy during past two years and […]
Aswat al-Iraq has reported that a new Iranian electricity supply line has started operations, carrying 100 MW of electricity from Iran. The new line is aimed at meeting the 550 MW of power required by Wasit province. The province currently only receives less than 150 MW from Iraq’s national grid, and consequently suffers from regular […]
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The Tehran Times reports that Iraqi officials have expressed interest in using experts from Iran to build a section of a natural gas pipeline on their side of the border. Javad Oji, managing director of the National Iranian Gas Company, said talks with Iraqi officials in Baghdad resulted in agreements between the countries to move […]
Iraq and Iran have agreed to increase their cooperation in the oil, gas and refinery sectors. Iran's Fars News Agency reports that the Managing-Director of the National Iranian Oil Refining and Distribution Company (NIORDC), Ali Reza Zeiqami, said on Monday that Iran and Iraq had reached an agreement to expand cooperation in developing joint fields, […]
According to a report from UPI, global security consultancy Stratfor says Iran is systematically stealing Iraq's oil, either by siphoning it off from pipelines to boost its own exports, or by extending its control over Iraq's southern oilfields in Shiite-controlled Basra province: "Iran's deep political, economic and militant links in Iraq -- particularly in the […]
Levels of violence fell slightly in Iraq last week. At least 43 people were killed and 125 injured in nationwide incidents. A total of 43 bomb attacks left 24 people dead and 106 injured. There were no suicide bombings recorded although a number of militants were killed whilst handling explosive devices that detonated prematurely. A […]
