Iran, Azerbaijan Edge Closer to Oil Agreement
There have been positive developments in ongoing oil talks between Iran and Azerbaijan and a deal may be signed in March 2018.
Oil | Egypt Oil & Gas - Part 15
Iraq to Decrease Fuel Imports by 25%
The Iraqi Ministry of Oil announced plans to decrease imports of petroleum products by 25%.
Iraq Mulls Exporting Oil via Turkey
Iraq’s government declared desire to hold talks with Turkey over the possibility of transporting oil once more from federal territory to reach a port located on the Mediterranean Sea.
DEA Boosts Oil, Gas Production in Egypt
DEA Deutsche Erdoel AG announced a significant increase of production from its oil fields in the Gulf of Suez and from the Disouq gas fields in the Onshore Nile Delta.
Iran’s West Karoun Oil Output Doubles in 2017
Iranian oil output from its West Karoun oilfields reached 305,000 b/d in the Iranian month of Dey, compared to 161,000 b/d during the same period this year.
Iraq to Boost Oil Output Capacity to 5 mb/d
Iraq’s oil output capacity is coming close to 5 million b/d. Yet, the OPEC member will comply with the global supply cut pact.
Libya Earns $14B in Oil Revenues
Libya has earned $14 billion in oil revenues in 2017, which is tripling the 2016 $4.8 billion oil revenues and allowing to halve Libya’s budget deficit, the Central Bank of Libya announced.
Algeria’s Sonatrach Considers Investing in Iraq’s Oil, Gas
Algerian state-owned energy firm Sonatrach is considering possible investments in oil exploration and natural gas projects in Iraq, Iraqi Oil Ministry announced on January 7th.
Iranian Oil Prices Rise 2%
Iranian oil reached its highest price in two and a half years, rising 2% on January 3.
Iraqi Kurdistan’s Northern Taq Taq Field Produces Oil
Genel Energy Company announced that it has hit oil in the northern area of Taqt Taq field in Iraqi Kurdistan as a result of its test appraisals.
