Latest news
U.S. Sanctions Won’t Affect Iraq-Iran Crude Oil Swap Deal
The return of the U.S. sanctions on Iran will not impact an agreement between Iran and Iraq to swap crude oil, Iraq’s Oil Minister Jabbar al-Luiebi said on Friday.
read more... 25/06/2018
Iraq started exporting oil to Iran from one of world’s largest deposits
Iraq has begun export deliveries of oil from the fields of the Kirkuk province to Iran. Transportation of oil from Kirkuk to Iran is a part of an agreement concluded between the two states’ oil ministries providing for exports in the amount of 30 to 60 thousand barrels per day.
read more... 04/06/2018
Russia's Rosneft discovers new oil field in Iraq
Bashneft International, a subsidiary of Russian state-owned oil company Rosneft discovered a new oil field in Iraq as a result of drilling of the first exploratory well at Block 12, Rosneft said in a press release.
read more... 24/05/2018
China and Iraq will develop oil field in Baghdad
Iraq completes initial deal with China's ZhenHua Oil aiming the development of the East Baghdad oil field, as stated by Iraqi Oil Minister Jabar Ali al-Luaibi on Monday.
read more... 27/12/2017
Daily (31.10.2017): Higher gas consumption in the UK boosted prompt prices on Monday
Brent oil price rose on predictions that OPEC-led output reductions would be prolonged beyond March even though higher Iraqi exports put a cap on prices. Brent crude futures increased by 46 cents, or 0.8 percent, to settle at $60.90 per barrel, its highest level since July 2015. Meanwhile, U.S. West Texas Intermediate (WTI) crude futures surged 0.5% to $54.15 a barrel.
read more... 31/10/2017