Iraq and Jordan agreed on the development of a $5.6b oil pipeline. The project's preparations and procedures are expected to be completed within the next two months.
The Iraqi Oil Minister, Jabbar Al-Luiebi, officially opened late March the Dhi Qar Oil Company, which will focus on operations work at the Dhi Qar province.
Iraq’s March production has been reduced by more than its share of 210,000b/d from its southern fields, while northern production has been reduced by around 30,000-40,000b/d so far in March from February.
The research consultancy Rystad Energy indicated that the oil field development in Iran and Iraq is expected to drive the largest production growth in the Middle East over the next four years.
The execution of the 300,000b/d refinery project in Basra’s Faw (Fao) is according to the methods of build–operate–transfer (BOT) or build–own–operate–transfer (BOOT), as well as to the investment law of the refineri ...
Iran began pumping 15,000b/d of crude oil from Azar oilfield, which it shares with Iraq. Azar development project is aimed at production of 65,000b/d of crude oil.
Russian oil giant Lukoil is targeting new projects in the United Arab Emirated (UAE), Iran, Oman and Kuwait as it plans to expand its operations in the Middle East.