The latest oil and gas news from Iraq – refineries, production and more – brought to you by Iraq Business News
The delay in the renewal of the agreement for the operation of the Kirkuk-Ceyhan oil pipeline has served a timely reminder of the many obstacles that still have to be overcome to fulfill its potential, both as an export route for Iraq and as a source of transit revenue for Turkey.
By Energy Hedge Funds Syndicate The delay in the renewal of the agreement for the operation of the Kirkuk-Ceyhan oil pipeline has served as a reminder of the many obstacles that still have to be overcome if the line is ever to fulfill its potential, both as an export route for Iraq and as a […]
BP and partner CNPC have awarded $500 million drilling contracts to raise production from the Rumaila oil field.
"Iraq has been struggling to meet 2 million b/d for years," says Majid Jafar, executive director at Crescent Petroleum. "Now in the run-up to the elections, the government has been proposing a 12 million b/d target, which is ludicrous.
The LUKOIL-Statoil consortium could begin producing oil at the West Qurna-2 oil field in Iraq in 2013, LUKOIL Vice President Andrey Kuzyayev said. LUKOIL’s capital investments in the project could be as much as $3.7 billion, the Oil and Gas Information Agency reports. LUKOIL President Vagit Alekperov said his company could increase investments in oil […]
The deputy governor of Anbar on Wednesday said that the province will focus on its oil wealth, particularly in the areas of Akaz and Zankawa, in an attempt to boost its economy. “The local government’s interest in the oil sector will provide outstanding job opportunities for youth and will ensure a revenue that adds to […]
Turkish Energy & Natural Resources Minister Taner Yildiz said on Tuesday that a new agreement would be signed with Iraq soon about the Kirkuk-Yumurtalik crude oil pipeline. Speaking to reporters in Ankara, Yildiz said that talks were underway with Iraqi government and Iraqi Petroleum Ministry about the pipeline, and a new agreement would be signed […]
Staff of the South Refineries Company in three southern Iraqi provinces were due to launch a sit-in on Wednesday (March 24) demanding the dismissal of the refinery’s administration and to release their revenues of previous years. “The sit-in will be conducted at the three provinces of Basra, Missan, and Thi-Qar,” a union source told Aswat […]
Iraq exported 57.9 million barrels of crude oil in February 2010 at an oil price of $73 a barrel, the Iraqi Ministry of Oil said on Tuesday. “Iraq has made $4.229 billion U.S. dollars in revenues,” according to a ministry statement received by Aswat al-Iraq news agency. A total of 45.2 million barrels have been […]
There were predictions before the recent Organization of the Petroleum Exporting Countries (OPEC) conference about the participation of Libyan Oil Minister Dr Shukri Ghanim, because of the existing crisis between the Libyan Jamahiriyah and Switzerland, and the fact that a number of Libyan officials have been put on a Europe-wide travel ban by Switzerland, which […]
Former British Prime Minister Tony Blair is alleged to have received cash from a Korean oil firm run by a former bribery convict for advice on Iraq's oil-rich Kurdistan, according to news reports in Korea. It had been kept secret for nearly 20 months before it was revealed last week. Blair, who has been accused […]
Heritage Oil, this month will sell its Ugandan operations for $1.35bn after more than a decade of development work. writes Miles Johnson in the Financial Times The cash will be used to pay investors a special dividend of between 75p and £1 per share, and to delve into fresh projects in Africa and the Middle […]
