Iraq
News
September 02, 2021
The Organization of Petroleum Exporting Countries lifted output by 290,000 barrels a day, slightly more than stipulated by its road map for restoring output, according to a survey. Saudi Arabia and Iraq were the main drivers of the increase.
News
August 27, 2021
Iraq鈥檚 regional allies stressed the need to provide support to an OPEC member struggling to rebuild after decades of ruinous wars, in a conference that also afforded a platform for meetings between longtime rivals.
News
August 25, 2021
BP and PetroChina formed a joint venture to manage the giant Rumaila field in Iraq, an operating structure the British oil major has adopted in other parts of the world as it focuses on the energy transition.
News
July 30, 2021
Russia鈥檚 Lukoil PJSC is retracting its decision to sell its stake in West Qurna-2 field in the south to Chinese companies, according to Iraqi state-run newspaper Al-Sabah.
News
July 27, 2021
Proserv Controls has secured a significant contract to manufacture and deliver 22 wellhead control panels to the Basra Oil Company for use on the Majnoon Oil Field in southern Iraq.
News
July 23, 2021
Iraq is spending billions of dollars to ramp up gas production and reduce its reliance on imports from Iran, which it uses primarily to power its electricity plants.
News
July 05, 2021
BP Plc and Russia鈥檚 Lukoil PJSC want to sell down their assets in Iraq, according to the country鈥檚 oil minister.
News
April 15, 2021
Iraq鈥檚 oil ministry took the unusual step of saying it鈥檚 in talks with U.S. companies about the possibility of them buying Exxon鈥檚 32.7% stake in the field in southern Iraq, near the city of Basra.
News
March 26, 2021
Iraq is discussing a deal with Total SE to build large infrastructure installations, develop oil fields and produce gas, Oil Minister Ihsan Abdul Jabbar told Asharq News, saying 鈥渢he agreement is giant, and the volume of the investment exceeds $7 billion.鈥
News
March 18, 2021
The facility which Petrofac will continue to manage is one of the largest in the Gulf, and handles around 55% of Iraq鈥檚 crude oil exports.
News
February 20, 2021
A robust recovery in demand from the Covid-19 pandemic had pushed prices to the highest settlement in more than a year last Wednesday, and Goldman sees the rally accelerating as consumption outpaces supply from OPEC and shale.
News
February 20, 2021
Prepayment deals are rare in the oil world and this was meant to improve Iraq鈥檚 financial situation. While the government is still struggling, its position has improved on soaring oil prices, largely thanks to the rollout of coronavirus vaccines.
News
February 19, 2021
Ten months after slashing crude production when Covid-19 crushed global demand, OPEC and its allies are still withholding 7 million barrels a day from the market. It's been a sacrifice, and now the group must chart a path forward that won't erase hard-fought oil price gains.
News
February 18, 2021
Baghdad pledged to pump below its quota in February to make up for past overproduction. Still, the pace of its crude exports in the first half of the month, if maintained through the rest of February, indicates the country may exceed its self-imposed production target of 3.6 million barrels a day and perhaps even its OPEC+ cap of around 3.85 million.
News
February 17, 2021
鈥淚 must warn once again against complacency,鈥 Energy Minister Prince Abdulaziz bin Salman said on Wednesday at an online conference held by the International Energy Forum in Riyadh. 鈥淭he uncertainty is very high and we have to be extremely cautious. The scars from the events last year should teach us caution.鈥
News
February 11, 2021
OPEC meets on March 4 and members will probably agree to keep output steady in April, Iraq鈥檚 Oil Minister Ihsan Abdul Jabbar said. The biggest change will come from Saudi Arabia, which will likely end unilateral daily cuts of 1 million barrels after March, he said.
News
February 08, 2021
Turkey鈥檚 state-owned oil and gas company is considering partnerships and plans to raise funding this year to carry out work on the biggest natural gas discovery in the Black Sea, according to people with knowledge of the matter.
News
February 01, 2021
OPEC boosted crude production as planned last month, but the increase was tempered by disruptions at long-troubled member nations.
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鈥檚 crude.
News
January 11, 2021
鈥淭he market has now reached a price level that potentially doesn鈥檛 reflect current fundamentals,鈥 said Ole Hansen, head of commodities strategy at Saxo Bank A/S. 鈥淥il could be next in line鈥 to suffer from a stronger dollar after other commodity prices came under pressure.