Special to WorldTribune.com BAGHDAD — Iraq’s Kurdistan has overseen another major energy project. The Kurdish Regional Government has signed an oil exploration contract with the U.S. firm Chevron. Under the accord, Chevron would explore the Qara Dagh field, which encompasses 860 kilometers. “Chevron will acquire an interest in and operatorship of the Qara Dagh block […]
Special to WorldTribune.com BAGHDAD — Iraq, despite huge reserves, has seen a loss of interest by Western energy majors. Industry sources said Western contractors have reduced their activity in Iraq while focusing on other areas, including the autonomous Kurdistan in the north. The sources cited rampant corruption as well the insurgency war, factors that the […]
Special to WorldTribune.com ABU DHABI — There are few greater oil powers than Iraq, and few more vulnerable entities than Iraq’s northern autonomous region of Kurdistan. So, how is it that Western energy majors are abandoning Iraq for Kurdistan? The answer lies in a key lesson of Arab Spring: Western companies, burned in Libya, would […]
Special to WorldTribune.com BAGHDAD — Iraq plans to oversee an imminent project to build a major oil refinery. The Oil Ministry has completed preparations for the design of a refinery in the southern Iraqi city of Nasseriya. Officials said the ministry has selected the U.S. firm UOP, to design the refinery, meant to have a […]
Special to WorldTribune.com BAGHDAD — Iraq plans to construct two more major refineries in an effort to end fuel imports. The Iraqi Oil Ministry said it intends to build two refineries in the provinces of Karbala and Missan over the next five years. The ministry said the Karbala facility would be designed to produce 140,000 […]
Special to WorldTribune.com BAGHDAD — Iraq’s autonomous Kurdistan has suspended crude oil exports. The Kurdistan Regional Government said the Iraqi Oil Ministry forced the suspension by halting revenues to energy contractors in the autonomous north. KRG said Baghdad withheld payment since May 2011. For its part, Baghdad has accused KRG of smuggling oil through Iran. […]
Special to WorldTribune.com BAGHDAD — Iraq has signed a $1 billion contract with South Korea to develop a huge crude oil reserve. The Iraqi Oil Ministry signed a service contract with South Korea’s Samsung Engineering for Iraq’s West Qurna Phase 2 oil field. Officials said Samsung would contribute to initial development as part of a […]
Special to WorldTribune.com BAGHDAD — Iraq has reported reaching a record in crude oil production. The government of Prime Minister Nouri Al Maliki and its Oil Ministry said Iraq has reached its highest level of oil production since 1979. The Oil Ministry has reported an output of more than three million barrels per day. Officials […]
Special to WorldTribune.com BAGHDAD — Iraq has approved a nearly $1 billion energy contract. The Iraqi Cabinet has endorsed a $998 million service contract with South Korea’s Samsung Engineering for the development of the West Qurna Phase-2 oil field. The Cabinet reached the decision on Jan. 24 after Samsung appeared on the final list of […]
Special to WorldTribune.com BAGHDAD — The autonomous region of Kurdistan has signed an energy exploration deal with a major Western contractor. ExxonMobil has signed several energy exploration contracts with the Kurdish Regional Government in northern Iraq. ExxonMobil has been a major contractor for the Iraqi Oil Ministry. The ministry said it warned the company three […]