Oil and Gas
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Efforts to Modernise Oil Operations and Enhance Services
The Deputy Prime Minister for Energy Affairs highlighted the need to adopt liquefied gas fuel over petrol or diesel due to its economic and environmental benefits. This statement was made during his visit to the General Company for Gas Filling and Services in Taji, accompanied by the Deputy Minister for…
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Iraq’s Economic Growth Hinges on Oil Sector Recovery: World Bank
The World Bank is cautiously optimistic about Iraq’s economic future, projecting growth exceeding 5% by 2026. This optimism hinges on a crucial factor: recovery in the nation’s oil sector. Iraq’s economy is heavily reliant on oil revenue. As a major oil producer and exporter, the country’s financial health is therefore…
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Iraq Takes Step Towards Self-Sufficiency in Fuel with New Refinery Project
In a significant step towards energy independence, Iraq recently celebrated the inauguration of a new isomerisation unit at the Basra Refinery. This facility, supported by national efforts, flaunts a production capacity of 11,000 barrels of improved gasoline per day. The project is expected to deliver a two-pronged benefit. Firstly, it…
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Iraq and OPEC+ States to Extend Production Cuts until 2025
Iraq, along with other OPEC+ countries including Saudi Arabia, Russia, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, participated in an in-person meeting in Riyadh during the 37th OPEC and non-OPEC Ministerial Meeting (ONOMM). The meeting aimed to strengthen the precautionary efforts of OPEC+ to support the stability and…
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