Iraq
News
November 13, 2023
West Qurna 1 is located in southern Iraq and has recoverable reserve estimates of over 20 Bbbl, making the oil field on of the largest in the world.
News
August 17, 2023
DNO restarted production at Tawke last month, and production is averaging about 40,000 bpd, according to a company statement. DNO said it had restarted the field to conduct well integrity tests and maintained output due to strong local demand.
News
April 05, 2023
Signed in September 2021, the GGIP is a key strategic project that involves investing approximately $10 billion to design and construct facilities for recovering significant volumes of otherwise flared gas throughout the Basra region and supplying such recovered gas to power stations.
News
March 31, 2023
Gulf Keystone Petroleum Ltd. will become the latest oil producer in Iraqi Kurdistan to cut production, as a legal spat between the region’s government and Baghdad that’s pushed up crude prices drags on.
News
March 27, 2023
The ministry “will discuss mechanisms for exporting Iraqi oil through [Turkey’s] Ceyhan port with the concerned authorities in the Kurdistan region” as well as with Turkey, in a manner that guarantees exports will be sustained and international commitments met.
News
March 23, 2023
DNO reported that cumulative oil production from its Peshkabir field in the Kurdistan region of Iraq has broken through the 100 MMbbl milestone less than six years after startup. The field was initially estimated to contain proven and probable reserves of 75 MMbbl commingled with associated gas.
News
March 20, 2023
Abdul Ghani said his country, OPEC’s second largest producer, plans to boost crude oil production to between 5-6 MMbpd or more, while adhering to OPEC’s limits, without further explanation about the timings to do so.
News
February 22, 2023
The government expects oil output to increase by 250,000 bpd once the blocks covered by the agreements start producing, Oil Minister Hayyan Abdul Ghani said on local television on Tuesday.
News
December 19, 2022
In Oman, three rigs have been extended for a total of seven years of work. Additionally, KCA Deutag’s Kenera business unit will provide a grid container for rig T-899. Elsewhere, the T63 has mobilized to drill two wells, with two more optional wells, for a client in Kurdistan.
News
November 27, 2022
Iraq, OPEC’s second largest producer, plans to start increasing oil export capacity from its southern ports from next year to add a total of 1 million to 1.5 million barrels a day by 2025, according to its OPEC delegate.
News
April 18, 2022
Iraq’s cabinet may reactivate a deal with Halliburton Co. to drill wells in a western gas field in Akkas next month, Oil Minister Ihsan Abdul Jabbar told local media.
News
March 31, 2022
Iraq’s government has told Kurdistan to transfer its oil and gas activities to a new company ahead of Baghdad’s takeover of the region’s operations, according to a document seen by Bloomberg.
News
February 22, 2022
Iraq is in talks with Halliburton Co. and Saudi Arabia’s Aramco to carry out oil and gas developments in the west of the country.
News
February 16, 2022
Iraq’s Federal Supreme Court ruled that Kurdistan shouldn’t produce and export oil and gas independent of the central government in Baghdad.
News
January 05, 2022
Iraq approved a state company’s potential purchase of Exxon Mobil Corp.’s interest in a huge oil field in the south of the country.
News
January 25, 2021
Iraq pledged to cut output in January and February after pumping more than its OPEC+ quota last year, and Libyan guards halted some crude exports after a pay dispute. Crude was also buoyed by a renewed climb in global equity markets as investors focused on the prospect of additional stimulus.
News
January 22, 2021
Iraq plans to cut oil output in January and February to make up for breaching its OPEC+ quota last year, according to the state company that markets the nation’s crude.
News
January 11, 2021
“The market has now reached a price level that potentially doesn’t reflect current fundamentals,” said Ole Hansen, head of commodities strategy at Saxo Bank A/S. “Oil could be next in line” to suffer from a stronger dollar after other commodity prices came under pressure.
News
January 08, 2021
The second-largest OPEC member, Iraq increased Basrah Light crude to buyers in Asia by 70 cents a barrel, to a $1.10 premium over the regional benchmark, according to a price list from the state oil marketer.
News
January 05, 2021
Futures in New York gained toward $48 a barrel after dropping the most in 2 weeks on Monday. Discussions will restart on Tuesday after a majority of members, including Saudi Arabia, opposed Russia’s proposal for another supply hike.
News
January 04, 2021
Talks between OPEC and its allies will continue for a second day after most members, including Saudi Arabia, opposed Russia’s proposal for another output increase in February, following the 500,000 barrels a day being added this month.
