Energy

UPDATE: Depot fire temporarily cuts Iraqi crude exports

An explosion at the Zubair-1 depot has taken up to 1.5 million bpd of Basra Medium crude exports offline, as Iraq scrambles to divert production to storage and implement workarounds to recover export volumes.

Fire fighters and civil defense corps members extinguish the fire at the Zubair-1 pumping station following a gas leak explosion on Oct. 26, 2025.

Oct 19, 2009

Meetings move Iraq closer to next oil field auction

Terms become more clear as Oil Ministry officials meet with hopeful foreign companies ironing out details of the December bidding round.

Oct 16, 2009

Minister expert says Shell gas deal within two months

Asri Mousa says technicalities, not politics, have delayed the joint venture to capture Basra gas.

Oct 16, 2009

Mesopotamia Petroleum confirmed out of Iraq drilling venture

Iraq drilling chief says MPC out after failing to fulfill financial obligations; IDC aims for 150 wells and 250K bpd in 2010.

Oct 15, 2009

Progress but no deal yet on Shell-Iraq gas company

Oil Ministry, British Embassy say negotiations continuing and joint venture gas company is reachable goal.

Oct 15, 2009

Second auction still slated for December

Oil Ministry says rumors of delay in second oil field auction are not true.

Oct 12, 2009

Round 1 revisited

At least four major oil companies are pitching development projects for oil fields that went unsigned in the June auction.

Oct 8, 2009

First Rumaila hurdle cleared, many remain

BP and CNPC reach a deal with the Oil Ministry but MPs call the deal “illegal” as the Cabinet readies to weigh in.

Oct 1, 2009

Mixed messages on Ghadhban committee

The Iraqi government continues to be unclear as to a review committee for the first bidding round.

Oct 1, 2009

Blacklist enlarged and challenged

By working in the KRG, a Chinese company is barred from bidding for oil fields offered by Baghdad, while a Korean firm is apparently back at work despite oil purchases.

Sep 30, 2009

Dhi Qar officials protest South Oil hiring practices

South Oil Co. accused of only hiring Basrawis, excluding other southern provinces from oil sector employment.