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An oil exploration deal between U.S. oil giant Exxon Mobil and Iraq's autonomous Kurdish region is fueling political tensions in a country where a post-U.S.-troop withdrawal spike in violence and political turmoil is clouding the climate for foreign investments sorely needed by Iraq.
Iraq on Sunday signed a multibillion-dollar deal with Royal Dutch Shell PLC and Japan's Mitsubishi Corp. to tap natural gas in the south, one of the biggest agreements by the OPEC member to develop an energy sector battered by years of neglect and war.
Iraq's oil ministry and South Korea's KOGAS on Thursday signed a long-delayed deal to develop a promising western gas field near the Syrian border, the latest step by the war-ravaged country to tap its own resources to fuel growing power demands.
The Iraqi army was supposed to pull out of the nation's cities by the end of this year but is delaying the pullback over security concerns, the Iraqi military spokesman said Saturday.
After years of wars, sanctions and drought, farmer Qais Nima Khamis says it's time to save the dates — and bring back Iraq's long-regaled fruit palm industry, which once led the world market.
Iraq's deputy prime minister says the country's electricity minister has been fired after signing two deals worth $1.7 billion without following the proper government guidelines.
Royal Dutch Shell PLC and Japan's Mitsubishi Corp. have signed an initial deal with Iraq to tap natural gas in the country's south, an oil executive said Tuesday, the latest push to develop Iraq's energy sector battered by years of neglect and war.
Iraq on Wednedsday signed a long-delayed deal with South Korea's KOGAS to develop a promising western gas field, as Baghdad announced that its oil exports have reached their highest level since the 2003 U.S.-led invasion.
Iraq has signed a tentative deal with Iran to import natural gas to ease its electricity woes, an official said Monday, in a step that deepens economic ties with Tehran as U.S. troops prepare to leave at the end of the year.
Iraq will auction off 12 mainly gas exploration blocs during a January 2012 bidding round as the country pushes ahead with efforts to beef up its energy sector, the oil minister said Monday.
Oil prices could climb to $120 per barrel this year, a level that would be "acceptable," Iraq's oil minister said Tuesday while announcing that the country would hold its fourth energy bidding round in November.
Iraq's oil exports climbed to their highest level in February since the 2003 U.S.-led invasion, boosted by a resumption in exports from the semiautonomous Kurdish region in the north, a senior oil official said Tuesday.
Iraq and Kuwait pledged Wednesday to work toward resolving border disputes and debt issues as the two former enemies seek to repair relations damaged by Saddam Hussein's 1990 invasion of the oil-rich emirate.
Hundreds of miles of mostly rusty pipelines cut across the bleak desert landscape near this southern port city under a smog-filled sky, as foreign crews in flak jackets, guarded by armed security, work nearby to extract the crude oil on which Iraq has pinned its future.
Iraq's oil minister said Sunday the country's oil production has increased by about 100,000 barrels a day, exceeding 2.7 million barrels.
Over a recent dinner, two friends — both local businessmen — dished over a simmering topic in Iraq's oil-rich port city: whether to boost Basra's future by partially breaking away from the federal government in Baghdad.
Iraq's Kurds said Tuesday they won't resume oil exports from their self-ruled territory unless the central government recognizes the contracts they have already signed on their own with international energy companies.
Camp Bucca, the sprawling former prison once run by the U.S. military in southern Iraq, will be turned into a commercial center with offices, warehouses, aviation and fuel services to support investors, an Iraqi official said Monday.
Iraq asked investors Saturday to compete to build four power plants and help the country meet burgeoning electricity demands, promising a healthy profit for the winners.
Production from Iraq's prized West Qurna Stage 1 oil field should more than triple to 750,000 barrels a day in three years time, an oil official said Sunday.
BAGHDAD — Iraq's latest bid to revive its battered energy sector and rebuild after years of war drew little interest, with a gas field auction Wednesday attracting mainly smaller oil firms. It proved again that when it comes to balancing the country's security risk with reward, only oil can lure the Western oil giants.
Iraq is set to open three major natural gas fields to international companies on Wednesday, but lackluster turnout by potential bidders could stymie the country's hopes of exploiting a commodity it sorely needs to rebuild.
Perspiration staining their orange jumpsuits, the Chinese engineers and laborers form Al-Waha Oil Co. work alongside their Iraqi counterparts under a sweltering sun readying an expanse of arid land southeast of Baghdad for infrastructure to extract and carry the viscous liquid on which Iraq's future lies: oil.
A China-led consortium sealed a deal with Iraq on Monday to develop a prized cluster of three oil fields in the country's south, bringing China closer to becoming the dominant foreign player in Iraq's recovering oil sector.
In offering to help Iraqi security forces to fight insurgents after a wave of deadly bombings in the capital, an anti-American Shiite cleric is sending a clear signal to the government: If you don't protect us, we'll protect ourselves.
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