Latest news with #IraqiOilMinistry
Iraq Business
2 days ago
- Business
- Iraq Business
Iraq to produce 12GW of Solar Power by 2030
By John Lee. The Iraqi Oil Ministry's Undersecretary for Distribution Affairs, Ali Maarij, has said that Iraq aims to incorporate 12 Gigawatts (GW) of solar power into its energy mix by 2030, alongside intensified efforts to capture natural gas and reduce flaring. He made the comments at a ceremony to launch a major new report from the International Renewable Energy Agency (IRENA) on the status and outlook of Iraq's energy transition. Maarij described the report as the result of close cooperation between the Iraqi government-represented by the Ministries of Oil and Electricity-and IRENA. He noted that it offers a comprehensive assessment of Iraq's current energy landscape, highlighting both the challenges and opportunities along the path to cleaner energy. For more details on the report click here. (Source: Ministry of Oil)
Iraqi News
5 days ago
- Business
- Iraqi News
Iraq aims to produce 12,000 megawatts from renewable energy
Baghdad ( – Deputy Oil Minister Ali Maarej said on Thursday that the ministry continues to increase solar energy projects to reach a production capacity of 12,000 megawatts by 2030. Maarej's remarks took place during a conference held by the Iraqi Oil Ministry, in collaboration with the International Renewable Energy Agency (IRENA), to address the Iraq Energy Transition Assessment Report, prepared by the agency in cooperation with Iraqi institutions, the state-run news agency (INA) reported. The report is intended to be a helpful resource for identifying national renewable energy priorities and promoting energy efficiency. Iraq's electricity shortage, one of the main issues facing the current government, may be strategically resolved with solar energy. Accordingly, Oil Minister Hayan Abdul-Ghani and the Ministry of Electricity unveiled earlier a collaborative strategy to generate 12,000 megawatts of renewable energy by 2030. According to Abdul-Ghani, one of the main solutions to increase Iraq's electricity output is the use of solar energy, which is a top priority for the government. The Iraqi Ministry of Electricity and the Ministry of Oil are collaborating on a plan to boost solar energy production to over 5,000 megawatts in the first phase, which would culminate in the production of 12,000 megawatts of clean energy. Upon the completion of the government's plan, the electricity Iraq will generate is expected to meet the local demand.
Iraqi News
22-07-2025
- Business
- Iraqi News
Turkey seeks to expand energy agreement with Iraq
Baghdad ( – An official in the Iraqi Oil Ministry revealed on Monday that Ankara has submitted a proposal to Baghdad to renew and broaden the energy agreement between the two countries to encompass cooperation in oil, gas, petrochemicals, and electricity. The official's statements took place after Ankara announced on Monday that the long-running oil pipeline arrangement with Iraq, reached in 1973, will be terminated in 2026. The Iraqi Oil Ministry is evaluating the Turkish proposal to establish a mutually beneficial deal, according to the Iraqi official. According to a presidential decree issued by Turkish President Recep Tayyip Erdogan, the initial agreement, established in July 1973, will expire on July 27, 2026, together with any relevant protocols, annexes, and extensions. The 1973 agreement paved the way for the Iraq-Turkey crude oil pipeline. This critical infrastructure project enabled the transit of millions of barrels of Iraqi oil to the Turkish port of Ceyhan on the Mediterranean. This legal framework later played an important role in arbitration procedures sparked by the Kurdistan Regional Government's (KRG) oil exports through the pipeline. The KRG began exporting oil unilaterally through the pipeline, provoking the federal government in Baghdad to file an arbitration lawsuit against Turkey in 2014. Baghdad claimed that the KRG's oil exports through the pipeline violated Iraq's constitution. Crude oil supplies over the Iraq-Turkey pipeline, which handled around 0.5 percent of the world's oil supply, have been discontinued since March 2023. After the International Chamber of Commerce (ICC) in Paris determined that Ankara had broken a 1973 convention by allowing oil exports without the permission of Baghdad, oil flows via the Iraq-Turkey oil pipeline were halted. Efforts to restore oil exports have accelerated in 2025, with the Iraqi government approving a new oil agreement between Baghdad and the KRG in July. With the 1973 agreement set to expire in 2026, Ankara and Baghdad are now working on an updated legislative structure for energy cooperation.
Yahoo
22-07-2025
- Business
- Yahoo
Türkiye offers draft to renew and expand energy collaboration with Iraq
Türkiye has reportedly submitted a draft proposal to Iraq aimed at renewing and broadening their existing energy agreement, according to a Reuters report. The proposal encompasses cooperation in sectors such as oil, gas, petrochemicals and electricity. This development follows Ankara's announcement of the termination of the long-standing Kirkuk-Ceyhan oil pipeline agreement. An official from the Iraqi Oil Ministry has indicated that the ministry is currently assessing the Turkish proposal. The official was quoted by the news agency as saying, 'The Ministry of Oil is in the process of reviewing the draft agreement sent by the Turkish side and negotiating with them regarding it to reach a formula that serves the interests of Iraq and Turkey'. The 1.6 million barrels per day Kirkuk-Ceyhan pipeline has been out of operation since 2023. An arbitration court ordered Türkiye to pay $1.5bn (Tl60.62bn) in damages for unauthorised Iraqi exports between 2014 and 2018, a ruling which Türkiye is contesting. Despite the pipeline's current inactivity, a senior Turkish official expressed Türkiye's desire to restore the oil conduit. Türkiye's decision to end the existing Türkiye-Iraq crude oil pipeline agreement from 27 July 2026 was published in its Official Gazette. The termination includes all related protocols and memorandums dating back to the 1970s. Efforts to resume oil flows through the pipeline have been ongoing. Ankara announced in late 2023 that the pipeline was ready to transport Iraqi oil, but negotiations involving Baghdad, the Kurdistan Regional Government and independent oil producers have yet to yield an agreement. The Turkish official highlighted the pipeline's potential as a 'highly active and strategic pipeline for the region', citing significant Turkish investment in its maintenance and its role in regional projects such as the Development Road. 'A new and vibrant phase for the Iraq-Turkey pipeline will benefit both countries and the region as a whole,' the official remarked, hinting at the broader implications of the proposed agreement. The Development Road initiative, which Türkiye sees as an opportunity to extend the pipeline further south, involves a high-speed road and rail link from Basrah in Iraq's to the Turkish border and eventually to Europe. Baghdad had already allocated initial funding for the project in 2023. "Türkiye offers draft to renew and expand energy collaboration with Iraq" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
22-07-2025
- Business
- Reuters
Turkey submits draft proposal to Iraq to renew, expand energy agreement
ANKARA, July 21 (Reuters) - Turkey has submitted a draft proposal to Iraq to renew and expand an energy agreement between the two countries to include cooperation in oil, gas, petrochemicals and electricity, an Iraqi oil ministry official told the state news agency late on Monday. The statement came after Ankara announced the end of a decades-old agreement covering the Kirkuk-Ceyhan oil pipeline. "The Ministry of Oil is in the process of reviewing the draft agreement sent by the Turkish side and negotiating with them regarding it to reach a formula that serves the interests of Iraq and Turkey", the Iraqi oil ministry official added. The 1.6 million barrel-per-day Kirkuk-Ceyhan pipeline has been offline since 2023 after an arbitration court ruled Ankara should pay $1.5 billion in damages for unauthorised Iraqi exports between 2014 and 2018. Turkey is appealing the ruling. Turkey still wants to revive the oil pipeline with Iraq, a senior Turkish official told Reuters earlier on Monday. In a decision published in its Official Gazette on Monday, Turkey said the existing deal dating back to the 1970s - the Turkey-Iraq Crude Oil Pipeline Agreement - and all subsequent protocols or memorandums would be halted from July 27, 2026. Iraq and Turkey have been working to resume oil flows from the pipeline. Ankara said in late 2023 that the pipeline was ready to receive Iraq's oil but talks between Baghdad, Iraq's Kurdistan Regional Government and independent oil producers were not able to reach an agreement on terms. The Turkish official said the pipeline had the potential to become a "highly active and strategic pipeline for the region". The person added that Turkey had invested heavily in its maintenance, and noted its importance for regional projects like the Development Road - a planned trade route involving Turkey and Iraq. "A new and vibrant phase for the Iraq-Turkey pipeline will benefit both countries and the region as a whole," the Turkish official said, without giving details of what Ankara wanted the new agreement to include. Turkey sees the Development Road initiative - a high-speed road and rail link, running from Iraq's port city of Basrah on the Gulf to the Turkish border and later to Europe - as an opportunity to extend the pipeline further south. Baghdad allocated initial funding for the project in 2023.
