The Ministry of Oil has discussed with Baghdad City Council a mechanism for the distribution of fuel and Kerosene Oil to them through a fuel card. “ Mr. Akram has stressed the establishment of a committee, composed of representatives of the Ministry and City Council for the printing of new fuel cards” as the current […]
Tag Archives | Oil & Gas
The latest oil and gas news from Iraq – refineries, production and more – brought to you by Iraq Business News
Tags: fuel cards, Oil & Gas
Importance of Joint Oil Agreements - Expert
Oil expert Abduljabar al-Halafi on Friday highlighted the importance of signing an agreement to benefit from potential oilfields between Iraq and neighboring countries. “There are no joint oilfields between Iraq and neighboring countries, but there are potential geographic reserves on borders,” al-Halafi told Aswat al-Iraq news agency. “The use of any part of these oilfields […]
People, Liabilities & Assets: Risk Management in Iraq
While much of the rest of the world is still taking tentative steps forward in its recovery from a global economic crisis, some industries and regions are already making strides in the right direction. Anglo-Arab Insurance Broker’s Chief Operating Officer, Mr. Robert Edwards, surveys the risk-transfer buying patterns of the energy industry in some of […]
Gulfsands Shares Surge After Approach
Gulfsands Petroleum (AIM: GPX) noted its recent share price movement on London’s AIM market and confirmed that has received a preliminary approach, which may or may not lead to an offer for Gulfsands. The company’s shares have surged over 19% to trade at 310p on the London Stock Exchange today (19 March). Gulfsands Petroleum is […]
Tags: Oil & Gas
OPEC Symposium Baghdad - Sept
The Organization of Petroleum Exporting Countries will hold a symposium in September for its 50th anniversary, Iraq's oil minister said Wednesday. Hussein al-Shahristani told Dow Jones Newswires of the planned event after exiting an OPEC meeting in which the cartel decided to keep output quotas steady. OPEC was founded in Baghdad on Sept. 14, 1960. […]
Turkey Says Pipeline Agreement Will Be Renewed
Turkey's energy and natural resources minister said that the crude oil pipeline agreement would be renewed with Iraq. Speaking at the 9th International Oil and Gas Conference at Ankara's Sheraton Hotel, Taner Yıldız said, "there are big and significant natural gas and oil reserves in east of Turkey. Turkey shapes its energy policies and diplomacy […]
Kirkuk-Ceyhan Pipeline Accord to be Extended
Turkish Minister of Energy and Natural Resources Taner Yildiz said Tuesday his country sought to renew the Kirkuk-Ceyhan oil pipeline accord with Iraq before it expires on March 30, 2010. Turkey and Iraq are likely to reach agreement on the extension of the accord for another 20 years soon, the minister said in an address […]
Iraq Targets 12 Million Barrels a Day, Defers OPEC Quota Limits
Iraq expects to produce 12 million barrels of oil a day within seven years and won’t even discuss OPEC quotas until 2012 as output accelerates after years of conflict, the country’s oil minister said. “We are not discussing any quota for Iraq before our production increases significantly,” Iraqi Oil Minister Hussain al-Shahristani told reporters today […]
Fate of Oil-rich City Crucial to Stability of Iraq
The future stability of Iraq may turn on the fate of the oil city of Kirkuk, who’s estimated 570,000 people are caught in a bitter dispute between the country's Kurdish minority and the central government in Baghdad. Iraq's Kurds, who comprise about 20 per cent of the national population, claim Kirkuk as their own. Some […]
China Now Largest Oil and Gas Investor in Iraq
China has become the biggest single investor in Iraq's oil and gas sector, with nearly one fifth of the reserves that have been auctioned over the past year under its control, Meed has reported. China is spending a total of $577m in signing on fees to give it access to an estimated 24 billion barrels, […]
Gulf Keystone Placing Raises £16m
Gulf Keystone Petroleum on Monday raised £16m in a stopgap share placing to fund drilling costs in Iraq after the default of its partner in Iraq last week writes Miles Johnson in the Financial Times. Gulf Keystone said last week it would have to pay $40m to the Kurdistan government within three months after the […]
Tags: Oil & Gas
MOL Makes Discovery in Akri-Bijeel Block in Kurdistan
Hungarian oil and gas group MOL has made a discovery in Akri-Bijeel Block in Kurdistan Region of Iraq. The testing results are promising, it said in a statement on 10 March, Portfolio Hungary reported. According to the official announcement: “Gulf Keystone is pleased to announce that Kalegran Ltd., a 100% subsidiary of MOL Hungarian Oil […]