Oil and Gas

OPEC+ Delays Oil Production Hike to April 2025

OPEC+ has decided to postpone its planned oil production increase until April 2025, extending its existing output cuts. This decision comes amid concerns over weak global demand and efforts to stabilise oil prices, which are currently hovering around $75 per barrel. Analysts note that extending cuts reflects OPEC+’s cautious approach…

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Parliamentary Committee Reviews Ministry of Oil’s Project Progress

The Ministry of Oil held a significant meeting today with the Parliamentary Strategic Planning Committee to review progress on government programme projects and outline future strategies. The meeting, chaired by Dr. Laila Al-Tamimi, a Member of the House of Representatives, included several Parliamentary Committee members. Representing the Ministry of Oil…

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OPEC Meetings Postponed to 5th December 2024

The 57th Meeting of the Joint Ministerial Monitoring Committee (JMMC) and the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM), initially scheduled for 1 December 2024, have been postponed to Thursday, 5 December 2024. The meetings will now take place via videoconference. The rescheduling comes as several key Ministers will be…

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Iraq’s October Crude Oil Exports Announced

The Ministry of Oil has released the final statistics for crude oil exports during October, as reported by the Iraqi Oil Marketing Company (SOMO). The total exports reached 103,145,225 barrels. According to the data, the majority of these exports originated from the oil fields in central and southern Iraq, accounting…

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Production Line 1000 Back in Operation: Gas Sector Update

The Ministry of Oil has announced the successful resumption of operations at the North Gas Company’s production line 1000 after completing maintenance work ahead of schedule. This achievement aligns with the directives of Deputy Prime Minister for Energy Affairs and Minister of Oil, Mr. Hayan Abdul Ghani, to enhance production…

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Ministries Collaborate on Study for Nebras Petrochemical Project

The Ministry of Planning convened a meeting, to review the launch of the feasibility study for the Nebras Petrochemical Project, a strategic initiative aimed at diversifying Iraq’s economy. The meeting was held in cooperation with the Ministries of Oil and Industry and Minerals, and focused on the assignment of consulting…

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Foundation Stone Laid for Wasit Oil Authority Buildings Project

On November 10, 2024, the Oil Projects Company officially laid the foundation stone for the Wasit Oil Authority Buildings Project, a significant step towards enhancing the administrative and organizational capacity of the Central Oil Company. The ceremony was attended by key figures, including Engineer Ali Ward Hamoud, Director General of…

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Iraq Advances Energy Sector with Diwaniyah Refinery Project

Deputy Prime Minister for Energy Affairs and Minister of Oil, Mr. Hayan Abdul-Ghani Al-Sawad, chaired the ninth session of the Ministerial Council for Energy today. In the meeting, attended by ministers and advisors, Mr. Abdul-Ghani emphasized the government’s commitment to advancing Iraq’s energy sector, aiming to bolster industrial and economic…

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Iraq’s Oil Sector Boosted by Successful Completion of 15 Wells in October

The Iraqi Drilling Company successfully completed the drilling and reclamation of 15 oil wells in October, marking significant progress in its operational initiatives across various oil fields in Iraq. This achievement aligns with the directives of the Deputy Prime Minister for Energy Affairs and Minister of Oil, Mr. Hayan Abdul-Ghani,…

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Iraq Aims to Maximise Gas Resources to Fuel Economic Development

The Undersecretary of the Ministry for Gas Affairs, Mr. Ezzat Saber Ismail, has reaffirmed the Iraqi government’s and Ministry of Oil’s strong commitment to enhancing gas investment and developing free gas fields. His remarks came during a field visit to the Basra Gas Company on Sunday, where he outlined strategic…

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