The Iraqi Ministry of Oil confirmed on Friday that oil export revenues through January surpassed $8.025 billion. According to row data issued by the State Organization for Marketing of Oil (SOMO), the total exports of crude oil during January were slightly more than 103.5 million barrels, with revenues reaching $8,025,616. …
Read More »OPEC+ Cartel’s Grip on Oil Market Loosening
Slowing demand growth and rising US crude production will make it more difficult for OPEC+ to continue to prop up prices, the IEA said on Thursday. The OPEC+ cartel, led by Saudi Arabia and Russia, has been restraining production to maintain prices but the latter have recently slumped due to …
Read More »Baghdad to Discuss Amending Iraqi Kurdistan’s Oil Contracts in December
Iraqi officials in the oil sector plan to meet with representatives of international oil companies and Iraqi Kurdish officials in early December to discuss contract amendments focusing on the latest efforts to resume oil exports from northern Iraq through Turkey. The Undersecretary of the Ministry of Oil for Extraction Affairs, …
Read More »TotalEnergies Project in South Iraq to be Completed by 2028
According to Iraq’s Oil Minister Hayyan Abdul-Ghani, a $27 billion agreement between Iraq and France’s TotalEnergies inked in July 2023 will generate almost 600 million cubic feet per day (mcf/d) of gas, enough to fuel power plants with a capacity of 5,000 megawatts (MW). According to recent statements made by …
Read More »Iraq Offers 30 Oil and Gas Projects in New Licensing Round
Following Saudi Arabia as the second-largest oil producer in OPEC, Iraq said on Tuesday that it will grant 30 new oil and gas projects in its fifth+ and sixth licensing rounds. At the ADIPEC energy conference in the UAE capital, Abu Dhabi, an official from the Iraqi Ministry of Oil …
Read More »Africa Climate Summit to Urge Investment in Continent
African policymakers will kick off a landmark climate summit in Kenya on Monday aimed at reframing the continent as a budding renewable energy powerhouse and calling for international financial help to unlock its potential. Kenyan President William Ruto says he wants the first Africa Climate Summit to help “deliver African …
Read More »TotalEnergies to Carry out 4 Large Energy Projects in Iraq
Iraq’s Basra Oil Company (BOC) announced that TotalEnergies entered into a contractual commitment to carry out four large energy projects as part of a deal concluded with the Iraqi government last July. TotalEnergies long-awaited $27 billion energy deal is expected to increase oil production and Iraq’s capacity to produce energy …
Read More »Gulf States Bet on Green Hydrogen
After riding a fossil-fuel boom for decades, Gulf Arab states are eyeing “green” hydrogen as they try to transition their economies and ease the climate crisis at a stroke. Oil producers Saudi Arabia, the United Arab Emirates and Oman are investing heavily in the climate-friendly fuel in a search for …
Read More »Iraq to Fully Take Advantage of Associated Gas by 2030
The Undersecretary of the Iraqi Oil Ministry, Basim Mohammed Khudair, stated on Saturday that Iraq will benefit from all available associated gas and achieve self-sufficiency in gas by 2030, the Iraqi News Agency (INA) reported. Khudair also indicated that foreign companies expressed their desire to invest in associated gas-related projects. …
Read More »TotalEnergies to Complete Energy Projects in Iraq by 2029
The Director General for Studies and Planning at the Iraqi Oil Ministry, Naseer Aziz Jabbar, explained on Monday that energy projects carried out by TotalEnergies in Iraq will be completed in 2028 and 2029, the Iraqi News Agency (INA) reported. TotalEnergies signed last week a $27 billion energy deal expected …
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