Iraq | Egypt Oil & Gas - Part 42
Iran Starts Pumping 15,000b/d at Azar Oilfield
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.
Iraq, Angola to Extend OPEC Production Cuts
Iraq and Angola are willing to extend OPEC's production cuts during the second half of 2017 as the global rally in prices shows signs of stalling.
Lukoil Targets New Projects in the Middle East
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.
Iraq Eyes 170b Barrel Reserves by 2019
Iraqi Oil Minister, Jabbar al-Li’aibi, disclosed that Iraq aspires to increase its oil reserves to 170b barrels by 2019.
Iraq’s Kurdistan Negotiates $3b Oil Prepayment Deal
Iraq's Kurdistan has increased the loans guaranteed by future oil sales to $3b in new deals with trading houses and Russian state oil firm Rosneft aimed at strengthening its fiscal position.
Rosneft Drills First Well in Iraq
Rosneft group started drilling of the first exploration well at Block 12 in the Republic of Iraq. The company plans to complete drilling the Salman-1 well in July 2017.
Egypt, Iraq Sign Oil Exports Agreement
The Iraqi Oil Marketing Company (SOMO) has signed a contract for oil exports with the Egyptian government.
Egypt to Import Crude Oil from Libya
The Egyptian General Petroleum Corporation (EGPC) stated that negotiations with Libya to import 1mb/m of crude oil for a year are taking place.
