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Tag: iraqi crude oil

Iraqi Crude Oil Production has shown Historical Jump

Iraqi Crude Oil Production has shown Historical Jump

On Tuesday, the Iraqi Oil Minister Thamer Ghadhban announced the country’s approach to historical production in crude oil. He said Iraq is too close to reaching oil production capacity at 5 million barrels/ day. The country is also moving to add 2 million barrels/ day during the next couple of years. Ghadhban added that Iraq is still burning half of the associated gas production. He said the new projects to convert gas to liquid will contribute to resolving the problem….

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First Shipment of Iraqi Crude Oil Delivered to Egypt: Ministry of Petroleum

First Shipment of Iraqi Crude Oil Delivered to Egypt: Ministry of Petroleum

The Iraqi Minister of Petroleum and Mineral Resources Tariq Al-Mulla issued a statement that first oil shipment from Iraq will be reached to Egypt on 12th May 2017 and the estimated amount of crude oil will be 2 million barrels. He pointed out that the Egyptian trucks are filled with crude oil and moving from Basra ports to Egyptian ports. The negotiations took place 2 weeks ago between the Egyptian General Petroleum Corporation and Iraqi officials. The current agreement will…

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Only Stability in Oil Prices Can Help Achieve Economic Goals

Only Stability in Oil Prices Can Help Achieve Economic Goals

Iraqi Dinar 123 News: – The oil industry is playing an important role in the economic development and national GDP growth with the provision of funds for the development, exploration and production in the oil industry. The most important key element in global oil market prices is OPEC, but there are many other elements that directly or indirectly affect the oil prices. The global economic growth rate is also a major factor to determine the demand and supply globally. The…

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Increase in Oil Investment is the Need of the Hour: Jaafari

Increase in Oil Investment is the Need of the Hour: Jaafari

Iraqi Dinar 123 News: – On Monday, the Iraqi Foreign Minister Ibrahim Al Jaafari met with Michael Townsend the CEO of the British Petroleum in Middle East. They discussed about the development in the region and its impact in the world oil markets. They emphasized the importance of improvement in the size of oil sector to support and help the Iraqi economy. Ibrahim Al Jaafari office issued a statement that the Iraqi Foreign Minister Ibrahim Al Jaafari and Michael Townsend,…

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