The waiver will allow Iraq to continue importing electricity from Iran as the main Iraqi power plants depend on Iranian natural gas. Besides, Baghdad’s power generation is not enough to ensure domestic supply.
Iran plans to boost gas production from the South Pars field, the world’s largest gas field, to 630 million cubic meters per day (mcm/d) up from 580 mcm/d by mid-March.
A newly-formed committee of experts are due to visit the Iraqi parliament to address the resumption of oil exports from Kirkuk through the Kurdistan region.
The US has granted Iraq a 45-day waiver from its sanctions on Iran in order to import natural gas and electricity supplies.
France will push to create the necessary mechanisms to allow EU countries to maintain trade with Iran following the re-introduction of US sanctions on November 5.
The US has granted eight Iranian oil importers temporary waivers from the sanctions set to be imposed upon the country’s energy sector on November 5.
State oil giant Saudi Aramco and petrochemicals company Saudi Basic Industries Corp (SABIC) will build a new integrated industrial petrochemicals complex in the port city of Yanbu on the Red Sea coast.
South Korean Hyundai Engineering & Construction announced it has cancelled a $521 million agreement to build a petrochemicals complex in Iran.
Iraq plans to stop exporting crude from its northern Kirkuk oilfield to Iran in November in compliance with US sanctions placed on the Iranian energy industry.
An upgrade to Saudi Aramco’s Yanbu South Terminal (YST) has added 3 million barrels per day (b/d) to the export capacity of the Red Sea facility.
