[Editor’s note: The story was updated on June 2, 2023} Iraq is going full throttle in its oil and gas development and held a resumption ceremony for a project award to a Chinese firm to build a crude oil depot for export with a capacity of around 3.2 million barrels, Zawya reported, citing Iraqi officials. […]
Search results
Posted inNews
Saudi Arabia’s PIF launches $3 billion unit to drive investment in Iraq
A new company has been carved out of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), to target multi-billion investments across industries in Iraq. With a staggering capital of $3bn, the newly formed Saudi-Iraqi Investment Company is part of PIF’s ambitious strategy to expand its investments in the Middle East and North Africa. […]
Posted inNews
Saudi Aramco to partner with Iraq for major gas project
Saudi Aramco is set to develop a major onshore gas field in Iraq, stepping up its investments in hydrocarbon projects outside the kingdom. Iraq is in discussions with Saudi companies, including Aramco, to invest in its oil and gas sector but a final agreement has not yet been reached, the Iraqi Oil Ministry said on […]
Posted inNews
Qatar eyes Iraqi oil and gas projects
Iraq Oil Minister HE Hayan Abdel Ghani confirmed on Wednesday Qatar’s interest in obtaining rights for oil and gas exploration in his country, speaking at the Qatar Economic Forum. Ghani told Qatar News Agency (QNA) that the forum was an opportunity to announce a number of energy projects that Iraq wants to develop in the […]
Posted inExploration & Production
Iraq invites bids for 13 oil and gas projects
OPEC member Iraq has invited bids from multinational oil exploration firms to develop oil and gas sites as a part of its new licensing round, online news portal Zawya wrote in a report. The reported cited a statement from the Iraq’s Oil Minister Hayan Abdel Ghani, which was carried by the local press, on Tuesday. […]
Posted inDownstream
Lebanon secures deals to get more Iraqi oil
Lebanon has secured deals for more fuel supplies from Iraq, the two countries said on Tuesday, as Beirut battles to produce more power to help it emerge from years of economic crisis, Reuters reported. Baghdad has agreed to increase the volume of heavy fuel oil supplied under an existing deal by 50% to 1.5 million […]
Posted inNews
Iraq set to launch $8.5 billion giant petrochemicals project
Iraq is set to launch the Nibras project in the coming days, according to the project’s manager, Hussein Ali. The project, a joint venture with Royal Dutch Shell, involves the construction of the largest petrochemical plant in the region at a cost of almost $8.5 billion, Zawya Projects reported. The petrochemical plant, based in Basra, […]
Posted inNews
Iraq says TotalEnergies to begin $27 billion project in second half of 2023
Iraq expects TotalEnergies to begin operations on a long-delayed $27 billion oil, gas, and renewables project in the second half of 2023 after finalising side-contracts with a state oil company, Reuters reported, citing Iraq’s deputy oil minister. Basim Mohammed, Iraqi deputy oil minister for upstream affairs, said TotalEnergies and the Basra Oil Co “are now […]
Posted inNews
Unveiled: Iraq reveals details of new refinery megaproject
Iraq is planning to build an oil refinery in the Southern Faw Peninsula with a production capacity of 300,000 barrels per day (bpd), Zawya Projects reported on Monday, citing Iraq’s official news agency. The Oil Ministry is in touch with foreign firms for the project, which will be announced after an agreement is signed, it […]
Posted inNews
TotalEnergies’ $27 billion Iraq project to begin in two weeks
Iraq and TotalEnergies expect to begin work on a long-delayed $27 billion project within the next two weeks, Iraq’s oil minister Hayan Abdel-Ghani said on Wednesday. According to a Reuters report, Abdel-Ghani said at a conference in Baghdad he expected five side agreements related to the deal to be signed in the next two weeks, […]