Iraq Weighing New Contract Terms for Majnoon
Iraq is considering new terms for the development of its Majnoon oilfield, Iraqi Oil Minister, Jabar El Luaibi, said on Saturday.
Iraq is considering new terms for the development of its Majnoon oilfield, Iraqi Oil Minister, Jabar El Luaibi, said on Saturday.
The Russian oil giant, Rosneft, is set to invest $1.8 billion in the primary oil pipeline of the Kurdistan Regional Government (KRG) for a 60% stake.
Iraq is increasing crude exports from its southern oilfields to make up for production shortfalls from Kirkuk.
Following the Iraqi government’s seizure of key oilfields and infrastructure in Kirkuk, Kurdish crude oil exports to Turkey have more than halved
Federal Iraqi forces seized control of key oilfields in the disputed province of Kirkuk earlier this week.
Egypt expected to receive its last shipment of Iraqi crude oil—under April’s import agreement with Iraq—on October 17th.
Despite simmering tensions in Iraq and uncertainty over the Iran nuclear agreement, world oil supplies have remained steady, according to the Kuwaiti Oil Minister, Essam El Marzouq.
Federal forces in Iraq have taken a refinery and the headquarters of the North Oil Company from the Kurdish military.
Iraq and Exxon Mobile are in the “final stages” of negotiations for a multi-billion dollar project in southern Iraq.
In a move that could weaken the Kurdistan Regional Government (KRG), the Iraqi Oil Ministry said that it would reopen the federal Kirkuk-Ceyhan pipeline to Turkey.