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Energy

Iraq seeks backup options for West Qurna 2

As a sanctions deadline looms, Basra Oil Company is poised to manage the 480,000 bpd field while Lukoil continues negotiating to sell its stake.
A ceremony at the West Qurna 2 oil field in Basra to mark the opening of two new well complexes on June 1, 2023. (JASSIM AL-JABIRI/Iraq Oil Report)
Apr 25, 2008

Iraq Oil Ministry: Exports drop but rising price means revenue increases…

Plus: *Internal pipeline explosion affects fuel *Saddam-era deals with China, India, Vietnam and Indonesia likely to move *Turkish overtures to Baghdad and Erbil *Crackdown on smuggling and control of gas stations *Much, much more… Iraq oil sales earned $500 million more in March than February because of increased oil prices, despite a slight drop in […]

Apr 24, 2008

Iraq oil exports drop slightly as price of oil stays high…

Iraqi oil exports have dropped by 17,000 barrels last month mainly due to lower output from the northern oil fields of Kirkuk, an Oil Ministry statement said, Azzaman reports. New data on Iraq oil revenues suggests that country's government will reap an even larger than expected windfall this year — as much as $70 billion […]

Apr 22, 2008

Iraq Oil Ministry: waiting for Big Oil for oil development, but not past June…

Iraqi Oil Minister Hussain Al-Shahristani said Tuesday the country will likely drop oil service contracts with foreign companies if they don't have their proposals finalized by a June deadline and will move forward with the work on its own, Dow Jones Newswires reports. "June is already a bit late... We may drop them if they […]

Apr 21, 2008

Kurdish region PM Barzani says “progress” on Iraq oil law…

*But Iraq Oil Ministry says not so fast *All Saddam-era oil deals canceled, to be up for bid *Iraq to sign two-year deals with Big Oil in June *Scattered Dreams: Iraq’s Refugees *$1.5 M for Sadr City *Iraq Press Roundup Iraq's Kurdish region leader said talks in Baghdad on key controversial issues, including the oil […]

Apr 18, 2008

Turkey upset about Iraq oil snub…

The fact that Turkey’s national oil company was not among 35 companies approved over the weekend by Iraq’s Oil Ministry to bid for soon-to-be announced tenders to develop oil and gas fields led to disappointment is Ankara, particularly at a time when Turkey planned to strengthen relations with its neighbor through further energy cooperation, Today’s […]

Apr 11, 2008

The Iraq oil circus comes to Washington

This week the circus came to town. Not Ringling Bros. and Barnum & Bailey, but Gen. David Petraeus and Ambassador Ryan Crocker, and with it the three rings of a five-plus year war and occupation, politicians in their populist best pitches and the media echo of what's going on with Iraq's oil revenue. Petraeus, the […]

Apr 9, 2008

Iraq oil production drops slightly as Baghdad criticized for spending oil proceeds…

PLUS: *Oil and the Basra battle *The northern pipeline protector *Power grid still a target *Kirkuk deadline looms large *Baquba violence increases Iraq oil production decreased in March, along with OPEC as a whole, as Baghdad was pressed by Washington to spend more of its revenues, United Press International's Ben Lando reports. Oil flow has […]