Despite increasing calls from climate activists, the Middle East is expected to commence over 600 projects between 2023 and 2027, according to data from GlobalData Energy. Out of these, upstream projects would be 81, midstream would be 141, the refinery at 84, and petrochemicals would be the highest with 315 projects. Here is a list […]
Iraq
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Revealed: Iraq announces details of oil and gas licensing round
Iraq’s Ministry of Oil has unveiled the locations of the 11 exploration sites for the sixth licensing round, clarifying the eligibility criteria for participating companies, according to press reports. All the exploratory sites for this licensing round are located in the western region. Muhammad Al-Saadi, Assistant Director General of the Petroleum Contracts and Licenses Department […]
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Qatari companies to invest $9.5 billion in Iraq’s infrastructure projects
Qatari companies have entered into agreements with Iraq’s National Investment Commission to undertake projects valued at $9.5 billion, including the construction of two power plants with a combined capacity of 2,400 megawatts (MW), according to press statements released on Sunday. UrbaCon Trading & Contracting Company (UCC Holding) and the investment commission signed a 25-year public-private […]
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Iraq invites foreign bids for contracts in 11 new gas blocks
Iraq has invited foreign companies to bid for contracts to explore and develop natural gas reserves in 11 new blocks as the OPEC member seeks to produce much-needed natural gas for power stations and cut imports that weigh on the country’s budget, Reuters reported. Eight blocks are located in western Anbar province, one in the […]
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Qatar to build major oil refinery in Iraq and launch new company for oil tankers
Qatar and Iraq have signed an an MoU to establish a 150,000 barrels per day oil refinery in Iraq, the Peninsula reported. Both countries have also signed an MoU to establish a joint company that will build and operate oil tankers that carry crude oil and petroleum products according to the laws in force in […]
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Qatar eyes $5 billion investment in Iraqi projects
Qatar plans to invest $5 billion in a number of sectors in Iraq over the coming years, Reuters reported, citing Qatari state news agency that cited quotes from Qatar’s Emir Sheikh Tamim bin Hamad al-Thani. The emir arrived in Iraq on an official visit where he signed memorandums of understanding (MOUs) to expand cooperation on […]
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Iraq approves record $153 billion budget for projects and hiring
Iraqi government on Monday approved a 2023 budget of a whopping $153 billion that sets out record spending on a growing public wage bill and development projects to improve services and rebuild infrastructure ruined by neglect and war. The budget is based on an oil price of $70 per barrel and projects oil exports at […]
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Iraq, GCCIA inaugurate landmark grid interconnection project
The Gulf Cooperation Council Interconnection Authority (GCCIA) has embarked on the implementation of a new super grid project, connecting the GCC with the southern region of Iraq, according to a press statement. The interconnection project, slated for completion by late 2024, marks the first-ever expansion beyond the electrical grid system of the GCC countries. The […]
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GE Gas Power announces major boost to Iraq’s power generation capacity
GE Gas Power has announced a significant boost to Iraq’s power generation capacity achieved in partnership with the country’s Ministry of Electricity. The company has successfully serviced and upgraded 1400 megawatts (MW) of gas turbine capacity across the country in the first half of this year. The strategic move aims to enhance power generation capabilities […]
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TotalEnergies set to launch major project in Iraq as part of $27 billion framework
France’s TotalEnergies is pushing ahead with plans to build a 1,000 megawatt solar power project in Iraq after the project was endorsed by Baghdad last week, Zawya Projects reported, citing a statement by the Iraqi Electricity Ministry. The solar park project is part of a $27 billion framework agreement signed by Iraq and France in […]
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