Iraq and Total sign $27 bln energy projects deal
France’s Total (TTEF.PA) will build four giant energy projects in southern Iraq under a $27 billion deal signed in Baghdad on Sunday, the country’s oil minister said. The company will Continue Reading
INOC launches, aiming to restructure Iraq’s oil sector
he Iraqi National Oil Company (INOC) has taken two significant administrative steps to become operational, signaling a potential sea change in the structure of Iraq’s oil sector. In an Aug. Continue Reading
Total expected to sign massive energy deal on Sept. 5
French supermajor TotalEnergies is scheduled to sign a multi-billion-dollar energy deal with Iraq this Sunday in Baghdad, according to several officials familiar with the plans. A formal invitation to the Continue Reading
Iraq, TotalEnergies Close to Signing Oil, Solar Deal
The government of Iraqi and TotalEnergies SE are close to finalizing an accord that will trigger billions of dollars of investments aimed at boosting oil and gas production and reducing Continue Reading
Iraq, TotalEnergies Close to Signing Deal on Oil, Solar Projects
The government of Iraqi and TotalEnergies SE are close to finalizing an accord that will trigger billions of dollars of investments aimed at boosting oil and gas production and reducing Continue Reading
Large Methane Plume Detected Over Southern Iraq
Satellites detected a large release of super-warming methane gas over southern Iraq last month. The methane cloud, spotted by geoanalytics firm Kayrros SAS using European Space Agency satellite data, was Continue Reading
Baghdad makes second KRG budget transfer
Iraq’s federal government has sent a second budget transfer to the semi-autonomous Kurdistan Regional Government (KRG) under a stop-gap political deal . Two senior KRG officials said the transfer, of Continue Reading
Lukoil plans to ramp up oil output at West Qurna 2 field to 480,000 b/d in 2022
Russia ‘s second-largest crude oil producer Lukoil hopes to increase oil output at the West Qurna 2 project in Iraq to 480,000 b/d next year, the company said during a Continue Reading
BP Spins Off Operations Of Iraq’s Largest Oilfield
BP is spinning off its assets in Iraq by setting up a joint venture with PetroChina which will manage Iraq’s largest oilfield Rumaila as the UK-based supermajor is looking to Continue Reading
Macron visit feeds hopes of breakthrough for Total deal
The French president’s second trip to Iraq in less than a year could potentially help push a massive energy deal across the finish line for TotalEnergies. Iraqi Prime Minister Mustafa Continue Reading
Iraq approves spinoff of BP-operated Rumaila oil field
Highlights BP, PetroChina to be JV partners in Basra Energy Company Rumaila produces around 1.5 million b/d BP wants to slash output and lower its carbon emissions Iraq has approved Continue Reading
Genel Down on Iraqi Kurdistan’s Plan to Scrap Projects
Genel Energy Plc fell the most in more than a year in London trading after saying Iraq’s Kurdish authorities plan to scrap its Bina Bawi and Miran natural gas projects. Continue Reading
Latest energy sector attacks underscore need to fast-track security coordination
Suspected insurgents detonated explosives at the North Oil Company (NOC)-operated Bai Hassan oil field and on a key electricity transmission line from Erbil to Kirkuk on Sunday, the latest in Continue Reading
Islamic State Attacks Iraqi Oil Field
An attack with an explosive device on an oil field in the northern Iraqi region of Kirkuk was blamed on Islamic State militants, according to an unnamed source who spoke Continue Reading
Large Methane Cloud in Iraq Coincided With Gas Pipeline Leak
A pipeline run by Oil Pipelines Co. in Iraq leaked liquefied petroleum gas on July 20, close to where a large plume of the super-potent greenhouse gas methane was detected. Continue Reading
Why An Oil Deal Between Kurdistan And Baghdad Is Unlikely
The recent transfer of IQD200 billion (US$137 million) from the Federal Government of Iraq (FGI) in Baghdad to the semi-autonomous region of Kurdistan’s government (KRG) in Erbil raised hopes that Continue Reading
Iraq wants to boost its oil output to 8 million b/d by 2027: minister
Iraq’s current oil production capacity is 5 mil b/d Minister previously said the target was 7 mil b/d capacity by 2027 Iraq’s OPEC+ quota is rising as coalition easing cuts Continue Reading
Why Russian Oil Giant Lukoil Won’t Give Up On This Huge Oilfield
There was always something that did not look quite right about Lukoil’s recent announcement that it was going to withdraw from Iraq’s huge West Qurna 2 oil field, located 65 Continue Reading
Baghdad Says Iran Halted Electricity Exports To Iraq
Reduced hydropower output in Iran amid a water scarcity has prompted Tehran to suspend electricity exports to neighboring Iraq, which relies on Iranian power and gas supply, Iraq’s Electricity Minister Continue Reading
Iraq, Kurdistan Region Look To Resolve Long-Standing Oil Dispute
The federal government of Iraq and the semi-autonomous region of Kurdistan pledged on Sunday to cooperate in resolving their differences in energy issues, hoping to turn “a new page” on Continue Reading
US gives Iraq another 120-day waiver to import Iranian power supplies
Highlights State Department expects Iraq to curb import dependence Renewal comes after Iraqi prime minister’s White House visit The US State Department has granted another sanctions waiver allowing Iraq to Continue Reading
How France Secured Major Oil And Gas Projects In Iraq
Even more so than Iran, Iraq remains the greatest relatively underdeveloped oil (and gas) frontier in the Middle East. It is little wonder, then, that it has been and remains Continue Reading
IRAQ DATA: Oil exports increase 1.4% in July amid higher OPEC+ quota
Highlights Iraq’s July exports rose to 3.278 million b/d July quota rose 4.016 mil b/d vs 3.954 mil b/d in June Quota will rise again in August Iraq’s total crude Continue Reading
July oil exports and revenues climb
With OPEC-plus pressure easing, Iraq increased exports slightly in July while higher oil prices drove monthly revenues to a 19-month high. A worker adjusts the valve of an oil pipe Continue Reading
Kurdistan gives oil companies 18-month deadline to end gas flaring
The Kurdistan Regional Government’s Ministry of Natural Resources (MNR) has issued a directive to field operators that they have 18 months to halt the flaring of associated gas that is Continue Reading
Iraq Wants Other U.S. Oil Company To Replace Exxon
Iraq wants another U.S. company to replace Exxon as a shareholder in the West Qurna 1 field, one of the country’s largest after the supermajor leaves the country. “Exxon Mobil Continue Reading
Iraq Oil Expert: Baghdad Shouldn’t Replace Oil With Renewables
It is not in Iraq’s best interest to adopt renewable energy at the expense of fossil fuels, energy and oil expert Hamza al-Jawaheri told local Shafaq News Agency in an Continue Reading
China To Build Airport, Houses Under Oil-For-Projects Deal In Iraq
Chinese firms are set to build an airport and 90,000 houses in Iraq as part of a 2019 agreement for crude supply in exchange for projects, an Iraqi official was Continue Reading
Iraq to sell Lebanon 1 mil mt/year of heavy fuel oil in barter deal
Lebanon will resell fuel oil Iraq will get ‘goods and services’ from Lebanon Iraq has a surplus of heavy fuel oil Iraq has agreed to sell Lebanon 1 million mt/year Continue Reading
Iraq in fuel deal with Lebanon to boost its faltering power supply
Iraq has signed an agreement allowing the cash-strapped Lebanese government pay for 1 million tonnes of heavy fuel oil a year in goods and services, helping Lebanon ease its acute Continue Reading
Iraq production steady in June as OPEC eases quota policy
Iraq produced 4.05 million barrels per day (bpd) of crude oil in June, slightly lower than May output of 4.10 million bpd , according to an independent field-by-field tally of Continue Reading
Multiple Basra fires expose poor safety standards
Lax oversight, outdated infrastructure, and extreme heat combust as Iraq’s oil capital suffers three fire emergencies in a single day. Iraqi fire-fighting teams battle a blaze at the West Qurna Continue Reading
Iraq’s cabinet appoints former oil minister Ghadhban to INOC
Despite legislative delays to full implementation, Iraq’s government has approved the next steps to a new national oil company. Thamir Ghadhban, then-Deputy Prime Minister for Energy Affairs and Oil Minister Continue Reading
‘I numb myself’: Hospital fire deepens Iraq’s COVID crisis
No beds, medicines running low and hospital wards prone to fire — Iraq’s doctors say they are losing the battle against the coronavirus. And they say that was true even Continue Reading
China’s CNCEC to build oil refinery, petrochemical plant in southern Iraq – statement
Iraq has picked China’s state-run CNCEC to build an oil refinery at the port of Fao on the Gulf, the oil ministry said on Tuesday. The refinery in Fao will Continue Reading
Baghdad releases $138 million to KRG days before Kadhimi’s Washington visit
The budget transfer relieves some financial pressure on Erbil, though regular payments going forward are hardly assured. KRG Prime Minister Masrour Barzani (right) receives Iraqi Prime Minister Mustafa al-Kadhimi (left) Continue Reading
Pandemic worsens for Iraq as Delta variant and vaccine hesitancy take root
Iraq’s covid-19 infection rate has peaked for a third time, to a record high, putting dire pressure on an overloaded health care system. A special team of the al-Hashid al-Shabi, Continue Reading
Rockets hit Iraqi base housing U.S. forces, wounding two Americans- officials
At least 14 rockets hit an Iraqi airbase hosting the U.S. and other international forces on Wednesday, wounding two American service members, U.S. officials said, while Kurdish-led forces in Syria Continue Reading
IRAQ DATA: SOMO says oil production falls in June amid tighter quota compliance
Iraq’s output fell to 3.862 million b/d in June Iraq’s quota rose in June vs May It is OPEC’s second-biggest producer Iraq’s total oil production, including flows from the semi-autonomous Continue Reading
Oil Major Exodus In Iraq Creates Opportunity For China
When the Bush Administration invaded Iraq in the spring of 2003, allegations that the US’ core interest is Iraq’s immense oil bounty were plentiful. Whilst US-based oil services companies certainly Continue Reading
Iraq Confirms BPs Plans To Leave The Country
BP is considering quitting upstream operations in Iraq, where the supermajor operates the biggest oilfield, Iraqi Oil Minister Ihsan Abdul Jabbar Ismaael said in a video posted on the oil Continue Reading
Iraq backs OPEC+ output hike from August, extension of pact beyond April 2022
OPEC+ ministers set to meet July 5 to resolve impasse Saudi and UAE disagree over extension of current pact Iraq is OPEC’s second biggest producer Iraq supports the proposal to Continue Reading
Iraqi minister says BP mulls quitting Iraq, Lukoil wants to sell up
Iraqi Oil Minister Ihsan Abdul Jabbar said in a video posted on Saturday on the ministry’s Facebook page that BP (BP.L) was considering withdrawing from Iraq, and that Russia’s Lukoil Continue Reading
IRAQ DATA: Federal oil exports hold steady at 2.89 million b/d in June
Highlights Iraq’s quota rose in June to 3.954 million b/d Quota to rise further to 4.016 million b/d in July Iraq is OPEC’s second-biggest producer Iraq’s federal oil exports, excluding Continue Reading
Iraqi tax commission cracks down on international energy companies
Iraq’s top tax authority has ordered government departments to stop issuing visas and halt imports for nearly two dozen international energy companies whom it accuses of late tax payments. If Continue Reading
Iraq Uses Controversial Oil Deal To ‘Secure Funding’ From Washington
At June’s G7 meeting, U.S. President, Joe Biden, received the backing of the world’s seven largest advanced economies (comprised of the U.S., the U.K., Germany, France, Italy, Canada, and Japan) Continue Reading
Electricity crisis worsens as Iran cuts supply and minister resigns
Power blackouts throughout Iraq threaten to cause new bouts of social unrest over chronic failures to build adequate domestic gas and electricity supply. An Iraqi worker fixes wiring linked to Continue Reading
Iraq to receive $360 mil World Bank loan to help expand gas flaring reduction from south
Highlights Loan to help boost Basrah Gas Co’s processing capacity by 40% BGC currently treats 900 MMcf/d of associated gas BGC is JV between South Gas Co., Shell and Mitsubishi Continue Reading
Why Did Iraq Pull The Plug On Its $2 Billion Oil Deal With China?
Just when it looked like Iraq was becoming a regional leader it decided to halt a $2 billion pre-paid oil supply deal with China’s state-owned Zhenhua Oil Co. despite aims Continue Reading
U.S. carries out air strikes against Iran-backed militia in Iraq, Syria
The United States said on Sunday it carried out another round of air strikes against Iran-backed militia in Iraq and Syria, this time in response to drone attacks by the Continue Reading