The Iraqi oil Ministry announced Sunday that Iraq's revenues from oil exports during the first half of the year 2012, amounting to more than $ 45 billion, asserting that Iraq had achieved a surplus oil revenues amounted to nine billion dollars, with accused some OPEC not to adhere to its assessed contribution.
Despite Baghdad’s harsh reaction to the Iraqi Kurdish Regional Government’s exports of crude oil to Turkey, Ankara plans to move ahead with new energy cooperation projects with the Iraqi government.
Turkey's energy ministry has started technical work with Iraq's central government on shipping crude oil from Basra in southern Iraq via the Kirkuk-Ceyhan pipeline to Turkey's Mediterranean coast and on to world markets, its minister said on Friday.
Sudan has signed oil exploration and production-sharing deals with foreign companies on nine blocks, a senior oil official said, sealing investments of $1 billion in Sudan, which is struggling to deal with a big loss in oil revenues.
Yemen is losing up to $15 million a day in export revenue because violence has halted shipments from the oil-producing Maarib province, the oil minister said, adding the government would ensure the repair of a crude pipeline 'by force'.
China National Petroleum Corp (CNPC), China’s top Crude Oil producer, said Monday operations have begun at the 1st phase of its Halfaya Oil field project in Iraq, with an initial annual capacity of 5-M tons.
Despite a spate of bad luck awarding oil contracts over the past several weeks, Iraq bestowed nearly $300 million worth of contracts this week to Indian and Dutch firms. The firms will be setting up factories to manufacture oil and gas pipelines to help strengthen Iraq’s infrastructure for its petroleum industry.
A consortium of oil companies, including Italy's Eni and Russia's largest private oil company LUKoil, discovered oil in the eastern part of the Libyan Desert 290 kilometers southwest of Alexandria, Eni said on Thursday.
Iraq started its fourth energy bidding round to allow international companies to compete for exploration deals on 12 new oil and gas areas, as the OPEC-member country seeks to expand its crude reserves and become a major gas exporter.
A Spokesman for the Iraqi Oil Ministry annonced the formation of a joint working committees with Syria and Jordan to discuss the joint exploitation of oil fields to serve the common interests.
