Kurdistan Regional Government (KRG) is ready to sign a new agreement with the Iraqi central government and increase its oil exports if Baghdad guarantees KRG a monthly revenue of $1b from the federal budgets.
Iranian Ministry of Petroleum announced that the country's crude oil exports have doubled crossing the level of 3.8mb/d with over 2m barrels being exported to foreign destinations, since Iranian President, Hassan Rou ...
OPEC's second-largest producer, Iraq, increased daily oil production to an all-time high of 4.5mb/d, according to estimates by the research firm, JBC Energy.
Iraqi troops liberated a gas refinery in the southern part of the strategically important city of Fallujah from Daesh militants, and also recaptured from Daesh's hands key parts of the northern refinery town of Beiji.
International oil firms have warned Iraq that projects to increase its crude output will be delayed if the government insists on drastic spending cuts this year
Abu Dhabi-listed company Dana Gas, which produces natural gas in Egypt and Iraq, reported a 50% decline in profit in Q1 as sales slumped due to lower hydrocarbon prices and 12% output fall.
Iraq’s Oil Ministry said it had signed a long-term “strategic framework agreement” with General Electric which comprised several projects to boost national power resources.
Oil fell as rising exports from Iraq underlined the global oversupply situation over an increase from Iraq's southern ports of an average of almost 3.5mb/d in April, an official from the state-run South Oil Company said.