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Calls for Iraq to Diversify Oil Export Routes to Mitigate Strait of Hormuz Risks

Energy experts have urged Iraq to adopt a long-term strategic vision to diversify its oil export channels and reduce its reliance on the Strait of Hormuz, amidst escalating geopolitical tensions in th...

OPEC Lowers Global Oil Demand Growth Projections Amid Ongoing Geopolitical Tensions

The Organization of the Petroleum Exporting Countries (OPEC) has lowered its forecast for global oil demand growth, attributing the adjustment to the persistent geopolitical tensions impacting energy...

Massive Fire Contained at an Oil Refinery in Western Iran

Media reports indicated that a massive fire broke out in a small oil refinery in western Iran, resulting in thick plumes of smoke and a full mobilization of rescue and firefighting teams. Civil defens...

Ministry of Oil Signs Contract with Halliburton to Develop Bin Umar and Sindbad Fields

The Ministry of Oil announced the signing of an integrated management contract to develop the Bin Umar and Sindbad fields with the American company Halliburton, as part of the Ministry's strategy to i...

Foiling an Attempt to Smuggle $226,000 at Kirkuk Airport

The General Commission of Customs announced the foiling of an attempt to smuggle two hundred and twenty-six thousand US dollars, which was in the possession of a traveler at the Kirkuk Airport customs...

High-Level Iraqi-Turkish Talks to Enhance Energy Cooperation and Resume Oil Exports

A high-level Iraqi delegation, comprising officials from the Ministries of Oil and Foreign Affairs, as well as representatives from the Kurdistan Region, held official talks in the Turkish capital, An...

Slight Decline in Iraqi and Global Oil Prices Amid Market Fluctuations

Energy markets recorded a slight decline in both Iraqi and global oil prices during the latest daily trading sessions. According to economic data, the price of Basra Medium crude dropped to $64.42 per...

Ministry of Oil Discusses Investment Opportunities and Energy Sector Development with Chevron

The Undersecretary of the Ministry of Oil for Extraction Affairs, Naseer Aziz, received the Vice President of the American energy corporation Chevron, Joe Cook, and his accompanying delegation to disc...

Iraq Intensifies Negotiations with Turkey to Conclude a New Strategic Oil Agreement

The Ministry of Oil announced the formation of a joint supreme committee to manage negotiations with Turkey aimed at concluding a new agreement to regulate crude oil exports through Turkish territory,...

Oil Price Fluctuations: Decline in Basra and Brent Crudes Amid Global Market Volatility

Global energy markets witnessed a noticeable divergence in crude oil trading prices, with Iraqi oil prices recording a decline in their market value. According to economic data, the price of medium Ba...

Global Oil Prices Decline Amid Easing Concerns Over Energy Supplies

Crude oil prices in global markets experienced a notable decline, approaching levels seen prior to the recent escalation in geopolitical tensions. This drop was driven by easing concerns over supply d...

US Hands Over Crew of Seized Iranian Oil Tanker to Pakistan Amid Efforts to Open Communication Channels

Informed sources reported that US authorities have handed over 22 crew members of a seized Iranian oil tanker in the Indian Ocean to Pakistan. In turn, Pakistani authorities handed the crew over to th...