Latest news with #IraqiOilMinistry
Iraq Business
28-05-2025
- Business
- Iraq Business
Baghdad files Lawsuit against Erbil over Energy Deals
By Sinan Mahmoud for The National. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraqi Oil Ministry files lawsuit against Kurdish region over unilaterally signed energy deals The semi-autonomous region has signed multibillion-dollar agreements with US companies HKN Energy and WesternZagros to develop gasfields. Click here to read the full article.
Iraqi News
07-05-2025
- Business
- Iraqi News
Iraq increases condensate output
Baghdad ( – The Iraqi Minister of Oil, Hayan Abdul-Ghani, said in a statement on Wednesday that natural gas output and flared gas utilization projects have increased in Iraq. A statement released by the Iraqi Oil Ministry mentioned that the country's efforts to lessen gas flaring and satisfy local demand have resulted in the availability of substantial amounts of condensates, reaching about 160,000 barrels per day, according to Reuters. Condensate, a light oil, is mostly used as a mixture for heavy crude or processed in separators to produce naphtha, a petrochemical product. To improve its characteristics, the majority of the condensates generated are mixed with crude oil. Iraq's attempts to maximize its energy resources and lessen its environmental effect through improved utilization of flared gas have taken a significant stride with the growth in condensate output. As part of the government's plan to quickly become self-sufficient in gas and energy, Iraq plans to increase the utilization of flared gas wasted in oil operations to 70 percent by the end of 2025. Abdul-Ghani told the state-run news agency (INA) last month that promising projects are underway to maximize the production and utilization of flared gas in oil fields throughout the country. According to the oil minister, flared gas utilization in Iraq is predicted to rise from its present level of around 67 percent to 70 percent by the end of 2025. As part of the government agenda, gas flaring is scheduled to completely stop in Iraq by 2028, with efforts being made to turn this wasted energy into useful energy.
Reuters
07-05-2025
- Business
- Reuters
Iraq boosts condensate production amid gas capture efforts, statement says
DUBAI, May 7 (Reuters) - Iraq's Deputy Prime Minister for Energy Affairs and Minister of Oil announced in a statement that the country has seen an increase in natural gas production and associated gas capture projects. These initiatives, aimed at reducing flaring and meeting local demand, have led to the availability of large volumes of condensates, reaching approximately 160,000 barrels per day, said an Iraqi oil ministry statement on Wednesday. Condensate, an ultra-light oil, is primarily processed at splitters to produce petrochemical feedstock naphtha or used as a diluent for heavy crude. According to the statement, most of the condensates produced are blended with crude oil to enhance their specifications. The increase in condensate production marks a notable step in Iraq's efforts to optimize its energy resources and reduce environmental impact through improved gas capture and utilisation.
Zawya
07-05-2025
- Business
- Zawya
Iraq boosts condensate production amid gas capture efforts, statement says
Iraq's Deputy Prime Minister for Energy Affairs and Minister of Oil announced in a statement that the country has seen an increase in natural gas production and associated gas capture projects. These initiatives, aimed at reducing flaring and meeting local demand, have led to the availability of large volumes of condensates, reaching approximately 160,000 barrels per day, said an Iraqi oil ministry statement on Wednesday. Condensate, an ultra-light oil, is primarily processed at splitters to produce petrochemical feedstock naphtha or used as a diluent for heavy crude. According to the statement, most of the condensates produced are blended with crude oil to enhance their specifications. The increase in condensate production marks a notable step in Iraq's efforts to optimize its energy resources and reduce environmental impact through improved gas capture and utilisation. (Reporting by Maha El Dahan; Writing by Ahmed Rasheed; Editing by Vijay Kishore)
Shafaq News
27-04-2025
- Business
- Shafaq News
APIKUR urges swift resolution to resume oil exports via Ceyhan Pipeline
Shafaq News/ The Association of the Petroleum Industry of Kurdistan (APIKUR) has called for renewed efforts to finalize agreements necessary for restarting oil exports through the Iraq-Turkiye Pipeline (ITP), emphasizing the need for payment assurances and adherence to existing contracts. In a statement, APIKUR said its member companies 'remain prepared to immediately resume exports as soon as formal agreements are reached to provide surety of payment for past and future exports,' in line with each International Oil Company's (IOC) contractual terms. Despite recent meetings between APIKUR representatives and officials from Iraq's federal government and the Kurdistan Regional Government (KRG), no agreements have yet been reached, the group added. Press Release: @apikur_oil calls for redoubling of efforts to reach the agreements required to resume oil exports via Iraq-Türkiye pipeline. The Govt of Iraq continues to publicly express the importance of oil exports through the ITP but engagements thus far have been limited… — APIKUR (@apikur_oil) April 27, 2025 Negotiations to resume exports through the ITP, also known as the Ceyhan Pipeline, have dragged on for months. Talks have centered on complex financial disputes, including nearly $1 billion in payment arrears owed to international oil companies. The Iraqi Oil Ministry has proposed appointing an independent consultant to assess production and transportation costs, but APIKUR has voiced concerns that such measures could undermine existing contracts and create further uncertainty over payments. Baghdad and Erbil have long been at odds over control of oil revenues. The Kurdistan Region began independently exporting crude through Ceyhan in 2014, a move Baghdad condemned as illegal and challenged at the International Court of Arbitration. In March 2023, Iraq suspended flows through the pipeline after the court ruled in its favor, intensifying pressure to find a new revenue-sharing arrangement. In recent months, Iraqi officials have signaled readiness to restart exports, announcing procedural steps to resume flows and expressing willingness to export up to 185,000 barrels per day. Turkiye, for its part, has urged that the pipeline operate at full capacity once exports resume, citing its importance for regional energy security. However, negotiations have been repeatedly stalled by disputes over financial guarantees and arrears payments. The Iraqi Oil Ministry has called for renewed talks with the KRG to resolve remaining issues, but APIKUR warned that progress remains limited. The association urged all parties to 'redouble efforts to find mutually beneficial solutions' and stressed that securing certainty for payments is key to restoring the pipeline's operations.
