KBR will initially sign a three-year agreement with scope of extension
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Iraq to begin construction of three refineriesÂ
Iraq’s Ministry of Oil has initiated the tendering process for the construction of three refineries as Public-Private Partnership projects. The three projects are as follows: The price at which crude oil will be supplied to the refinery investor will be based on the international prices for one barrel of crude oil delivered in port of […]
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Iraq acquires stake in TotalEnergies’ $27 billion project
Iraq has agreed to a smaller 30% stake in TotalEnergies long-delayed $27 billion project, reviving a deal that Baghdad hopes could revive foreign investment into the battered economy, Reuters reported. The deal was signed in 2021 for TotalEnergies to build four oil, gas and renewables projects with an initial investment of $10 billion in southern […]
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Iraq’s Karbala refinery begins commercial operations
Karbala oil refinery, Iraq’s largest refining project in the past four decades, has started commercial operations. The Iraqi Prime Minister, Mohammed Shia Al-Sudani, confirmed that the Karbala oil refinery has a production capacity of 140,000 barrels per day and will provide 70% of Iraq’s needs for oil products, saving billions of dollars spent on imports. […]
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Iraq, TotalEnergies to finalise $27 billion deal soon, says oil minister
French oil major TotalEnergies and Iraq will soon finalise a long-delayed $27 billion energy deal and talks “have reached advanced stages”, Reuters reported, citing Iraqi oil minister Hayan Abdel-Ghani. “We will activate the deal very soon,” Abdel-Ghani said at an energy event. The proposed deal, which Baghdad hopes will revive foreign investment in the country, […]
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Iraq launches bids for seven oil refinery projects
Iraq has invited investors to build seven oil refineries in various parts of the country as part of a post-war drive to rebuild its oil and gas sector, Zawya Projects reported, citing the local press reports. Bids for three refineries opened on Wednesday while offers for three other refineries will be submitted in April, they […]
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Crescent Petroleum signs three contracts to develop Iraqi oil and gas fields
Crescent Petroleum, the Middle East’s oldest privately-owned upstream oil and gas company, has signed three 20-year agreements with Iraq’s Ministry of Oil to appraise, develop, and produce oil and gas from two blocks in Diyala governorate and one in Basra governorate. The agreements will deliver much needed natural gas to fuel nearby power plants and […]
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GE signs PoC with Iraq to strengthen power infrastructure
GE has signed a Principles of Cooperation (PoC) with Iraq’s Ministry of Electricity to explore opportunities for strengthening the country’s power infrastructure, the company announced on February 16. According to a press release, GE will work on establishing new power plants and expanding capacity at existing facilities, maintaining and rehabilitating installed power generation and transmission […]
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Iraq awards oil concessions to Crescent Petroleum
Iraq has awarded oil concessions to Crescent Petroleum and other Chinese companies as part of its fifth licensing round, Iraq’s Oil Minister Hayan Abdul Ghani was quoted on Thursday as saying. Sharjah-based Crescent Petroleum, the Middle East’s largest private upstream oil and gas company, was awarded three concessions covering the production and development of oil […]
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Siemens Energy to develop megaprojects in Iraq
Siemens Energy plans to further expand its cooperation with Iraq by developing projects with a capacity of over 6 gigawatts in the next five years, a company spokesperson said on Friday. Among other things, this will involve the construction of conventional power plants as well as developing renewable energies and stabilising the power network, the […]