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Iraq takes action on illicit oil schemes

U.S. designation of a key oil sector logistics provider highlights sanctions risks, prompting Iraqi measures to combat corruption in fuel trading.
Iraqi Navy vessels take part in operations to combat illicit oil sales in August 2025. (Photo credit: GCPI)
Mar 5, 2008

Oil Ministry gets go-ahead from cabinet to sign two-year deals with Big Oil…

Iraq's cabinet has given the green light to the Oil Ministry to sign agreements with international oil companies to help increase the nation's crude output, a ministry official said Wednesday, The Associated Press reports. The chairman of the U.S. Senate Armed Services Committee said on Tuesday he may try to require Iraq to spend more […]

Mar 4, 2008

Petrel Resources’ high hopes for PSA from Saddam-era Iraq oil deal…

Plus: *Dana Gas ready to feed northern Iraq gas to Kurdish power plants *Price of Baghdad black market fuel drops *Iran-Iraq energy dealings during Ahmadinejad’s visit *Spring is coming, but air conditioning is not *Iraq Press Roundup *Inside Iraqi Politics Ireland's Petrel Resources expects a production-sharing agreement for a deal it signed with Saddam Hussein […]

Feb 25, 2008

Turkey, Kurds and the Iraq oil hype…

Plus: *Brits' new Basra economic chief acknowledges concern over denationalization of natural resources *KRG Pres. Massoud Barzani's Baghdad beef *Baiji-Baghdad-Anbar railway reconstruction begins *Much, much more... Fears continue, as does the Turkish invasion into northern Iraq, that the latter will cut supplies of oil in Iraq, thus buoying the price of oil. While Agence France-Presse […]

Feb 18, 2008

Oil companies race to the finish as pre-registration for Iraq oil contracts closes…

Plus: *Kurds considering legal action against Oil Minister *Oil companies hold onto cash intended for Iraq *Oil Ministry plans 300,000 barrel per day oil refinery in Nasiriyah *The legislative progress minus oil As the final day of registration closes, Iraq’s Oil Ministry said more than 70 firms from around the world have submitted papers, Reuters […]

Feb 16, 2008

Confusion on reports Iraq’s Kurds have signed more oil deals, with South Korea, sure to irk Baghdad…

Plus: *Iraq’s Parliament approved three crucial laws, barely, but nothing doing with the oil law *Baghdad’s water supply cut for half of its residents *Power workers protest lax Electricity Ministry *Electricity and Oil Ministry’s work together to stem fuel, power shortages *Mahmoud Ahmadinejad’s upcoming Iraqi visit Media reports from Seoul say Iraq's Kurds have signed […]

Feb 8, 2008

Iraq deals with Big Oil to be signed in March…

Plus: *Iraq and Europe courting each other for gas, oil support *Russia writes off 91 percent of Iraq's debt in move once reserved for W. Qurna rights *Iraq: The Alcohol Smugglers *Much more... Iraq’s Oil Ministry will continue meetings with Shell, BP, ExxonMobil and Chevron on Feb. 25, with deals to be signed in March, […]

Feb 7, 2008

Iraq oil begins flowing to Turkey again…

Plus: *Iraqi Kurdistan’s oil minister calls for fairness *ONGC Mittal looking at Iraq *Hard time in Parliament, budget faces walkout *Sadr, seriously Oil has started to flow again in the northern pipeline from Kirkuk to Turkey, Alsumaria TV reports. The pipeline has seen worse days, such as most of the time since the war began. […]

Feb 6, 2008

Iraqi and international oil firms’ talks on first post-war deals are moving along …

Plus: *Oil Ministry Shahristani in BBC interview *Iraqi Kurdistan’s Oil Minister Ashti Hawrami vows to sign more deals *OMV rejects Shahristani’s claim, will stick with KRG deal *Kurds threaten to withdraw from government *Iraq’s ambassador to U.S. optimistic on the draft oil law *Shell, Repsol register for oil bids; Exxon wants in too Negotiations between […]

Feb 1, 2008

Iraq’s Oil Ministry is getting ever closer to the first post-Iraq war oil deals…

…with the majors licking their chops at reentering since Iraq’s oil was nationalized in the 1970s. Plus: *Iraq and Europe to develop the gas sector *Rumormill: $$ for Iraq oil law votes? *Austria’s OMV joins SK Energy in having oil supply cut *Tet and the Iraq offensive Iraq's Oil Ministry, in talks with oil majors […]