By HASSAN HAFIDH
A consortium led by Exxon Mobil Corp. and Royal Dutch Shell PLC accepted contract amendments made by the Iraqi government to develop an oil field in southern Iraq, a senior Ministry of Oil official said.
“They have accepted the changes, and we are finalizing the deal with them on Jan. 25,” Abdul Mahdy al-Ameedi, [...]
Wind and solar industries currently make up about 7 percent of the total renewable energy market, but they are expected to contribute more than 25 percent to renewable energy by 2030, according to Credit Suisse research forecasts.
The increase will mainly be driven by the political risk of relying on declining oil reserves and concerns about [...]
BAGHDAD — Iraq announced on Wednesday that it would begin a second round of bids to license international oil companies to develop 11 oil and gas fields or groups of fields.
Iraq’s oil minister, Hussain al-Shahristani, said at a news conference that he hoped that these fields could be producing 2 to 2.5 million barrels of [...]
BAGHDAD, Dec 30 (Reuters) - Iraq will put 10 oil fields up for tender in a new round of bidding for international contracts that opens on Wednesday, the oil minister said.
In comments on state-owned Iraqiya TV late on Monday night, Oil Minister Hussain al-Shahristani said the fields would include “giant discovered but undeveloped oil [...]
Oil prices fell further below $40 in Asian trade on Tuesday in a market plagued by weak energy demand, dealers said.
New York’s main futures contract, light sweet crude for delivery in February, shed 77 cents to $39.14 a barrel in morning trade after sliding $2.45 to close at $39.91 on the New York Mercantile Exchange [...]
Oil prices reached $147 a barrel, an all-time high, in mid-July. Within weeks, a federal agency acted to “jump-start” the Bush administration’s five-year program to open additional offshore areas to petroleum and natural-gas drilling.
The five-year program was developed in July 2007 when, the Minerals Management Service noted, oil was “only” $64 a barrel.
Just 12 months [...]
Iran’s Deputy Foreign Minister Hossein Sheikholeslam said his country needs nuclear energy as a substitute for its oil resources.
“Iran will have oil for over 100 years but once its energy resources is depleted, nuclear energy will be the only logical substitute,” the Islamic republic news agency quoted Sheikholeslam as saying.
Iran is in a row [...]
U.S. oil giant Mobil Producing Nigeria Unlimited (MPN) has commissioned a 3.5 billion dollar project designed to boost crude oil recovery, gas commercialization and end gas flaring in its areas of operations, local media reported on Friday.
The project will impact significantly on increased crude oil output, increased reserve, monetization of flared gas volumes and increase [...]
BAGHDAD – Iraq’s self-ruled Kurdish regional government will export crude oil for the first time by early next year, a Kurdish official said on Wednesday.
Ashti Hawrami, the natural resources minister in the Kurdistan region, said an initial 100,000 barrels per day of crude oil from two northern Iraqi fields would be sent through a pipeline [...]
CARACAS - Venezuela’s state-run energy company will sign a deal with five Russian oil companies to produce and refine Venezuelan oil during a visit by the Russian leader this week, the energy minister said Sunday.
Russian President Dmitry Medvedev is due in Caracas Wednesday for a two-day visit which will coincide with the arrival of [...]
