Tag Archives: Iraq Business News

Iraq’s Ministry of Oil has signs an agreement of principles with the French company Total for four major energy projects in the country: 1. Plants to collect and refine associated natural gas at the fields of Artawi [Ratawi], West Qurna 2, Majnoon, Tuba [Subba] and Lahais [Luhais]. This will include …

Iraq has suffered from a lack of electricity generation capacity following the US-led invasion of 2003 as well as the rise and fall of the Islamic State group (IS) over 2014-17. Successive governments have thus far failed to rehabilitate Iraq’s electricity sector, despite spending some 50B USD on it in …

Iraq has reportedly “put on hold” it oil contract with China’s Zhenhua Oil. The multi-billion-dollar agreement would have seen Zhenhua pre-pay Iraq’s State Oil Marketing Organization (SOMO) for a regular supply of crude oil. Oil prices have risen significantly since the deal was struck.

Turkey has reportedly begun to export electricity to Iraq. According to Anadolu Agency, Turkey’s Energy Market Regulatory Authority (EMRA, EPDK) started supplying Iraq on Monday at a rate of 150 MW, through the Silopi-Zakho transmission line. The deal is due to run until 1st November, 2021.

UAE-based Dana Gas has announced that the production of sales gas from Pearl Petroleum’s Khor Mor Gas Plant in the Kurdistan Region of Iraq (KRI) reached a record level of 418MMscf/d on 18 November 2020. Dana Gas, which owns a 35% stake in Pearl Petroleum, registered a 6% year on …

Iraq has invited international bidders to develop its Mansuriya gas field near the Iranian border, Iraqi Oil Minister Ihsan Abdul Jabbar told the state news agency INA last week. The invitation comes after the termination of a contract with a group led by Turkey’s state-owned Turkish Petroleum Corp. that also …

The Russian Ambassador to Iraq, Maxim Maksimov said that Russia is seeking to invest heavily in Al-Mansouriya gas field, in the Diyala governorate. Maksimov said in a press statement yesterday that “Russian companies are willing to mobilise significant funds and have submitted an investment tender for Al-Mansouriya gas field in …

Iran’s non-oil exports to Iraq are reported to have increased by 0.7 percent. For the Iranian calendar year 1398 (ended on March 19), non-oil export to Iraq hit $8.9 billion, according to a deputy with the country’s Trade Promotion Organization (TPO). Tehran Times reports that medicines and medical equipment, plastic …