Iraq’s oil exports for August currently average 2.2 million barrels per day, Oil Minister Abdul-Karim Luaibi said on Tuesday.

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Oil reserves are defined as the quantities of crude oil estimated to be commercially recoverable by application of development projects to known accumulations from a given date forward under defined conditions. Reserves are further categorized by the level of certainty associated with the estimates.

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The director of the Iraqi oil ministry’s contracts and licensing directorate has said that 41 companies have qualified to take part in the country’s fourth energy bidding round, which is scheduled to take place in late January, Reuters has reported.

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Total amount of oil refined in Homs Refinery is about 2.418 million metric tons by 108% from the plan during the first half of this year, targeting plan refinery contribute to the economic development plan and social development of Syria by providing local market growing need of oil products and mineral oils.

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Seven international investors have announced they are ready to participate in the Islamic pipeline project, which would transit Iranian natural gas to Iraq, Syria, and Europe, the Iranian deputy oil minister said here on Thursday.

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Saudi Arabia sold its third August-loading fuel oil cargo to East Asia at lower prices on the back of two unexpected deals that were concluded at high price levels in a tightly-supplied market, traders said yesterday.

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It is not hard to see why BP has fought hard to win startling concessions from Baghdad: Iraq needs more oil from the giant Rumaila field but the British firm is in desperate need of new success too.

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Gunmen using rocket-propelled grenades on Saturday attacked a cooling system linked to an Egyptian pipeline in Sinai that supplied gas to Israel until it was blown up earlier this month, security sources said.

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The Ministry of Oil of Iraq has signed an implementation agreement for the construction under BOO terms of the Refinery of Karbala with RKC (Refinery of Karbala Corporation Ltd.) The new refinery will have a daily capacity of 200,000 barrels of crude oil and will produce high quality, high octane gasoline (regular and premium) as well diesel fuel for the domestic market

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Iranian Shura Council Speaker Ali Larijani described the agreement on establishing a gas pipeline from Aslawiya port in Iran to Europe across Syria and Iraq as strategic and an important development in energy equations in the region

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