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Experts: True Development Requires Investing Oil Revenues in Sustainable Projects

Economic experts have clarified that higher oil production and increased exports do not automatically translate to an improved standard of living for citizens, emphasizing that substantial oil revenue...

Noticeable Decline in Oil Prices Amid Signs of Political Breakthrough and Eased Crude Supplies

Oil prices recorded a renewed decline, continuing their recent streak of losses, driven by positive indications regarding the sustained flow of crude through the Strait of Hormuz. Brent crude and West...

US Treasury Issues Temporary License for Importing Iranian Oil and Petrochemicals

The US Department of the Treasury announced the issuance of a general license permitting the production, supply, and sale of crude oil, petroleum products, and petrochemicals of Iranian origin for a s...

Iraqi Oil Prices Rise Amid Global Market Fluctuations

Iraqi oil prices recorded a noticeable increase during daily trading in global markets. Basra Medium crude rose to $52.85 per barrel, while Basra Heavy reached $50.48 per barrel. Globally, Brent crude...

Calls for Comprehensive Investigation into Asphalt Plants' Operations and Black Oil Quotas

Appeals have been directed to the Prime Minister's Office urging the opening of an investigation into asphalt plants to verify their actual operations and address suspicions surrounding certain facili...

Official Statistics Reveal Record Sales Volumes of Oil Products in Domestic Markets

Government entities responsible for the distribution of energy resources issued comprehensive statistics on the volume of domestic sales over a recent monthly period, recording massive consumption fig...

Notable Decline in National Oil Prices, Hitting Their Lowest Levels in Three Months

Economic indicators of global energy markets showed a tangible decrease in the prices of national crude oil during daily trading, dropping to their lowest level in three months. Financial data indicat...

Official Denial of Circulated Reports Regarding the Arrest of a Government Official in the Oil Sector

A major state-owned company operating in the oil sector issued an official statement categorically denying rumors circulated by some online platforms regarding the arrest of its Director General. The...

Security Coordination Between Baghdad and Damascus to Secure Crude Oil Export Routes

Economic and oil experts emphasized the importance of strengthening security coordination between Iraq and Syria to ensure the protection of crude oil export routes through Syrian territory toward glo...

Peace Breakthrough Drives Gold Prices Higher and Lowers Global Oil Markets

Precious metals markets witnessed a noticeable leap, with gold prices rising by more than 2%, hitting their highest levels following the announcement of a framework peace agreement to end the conflict...

High-Level Security and Military Talks Between Baghdad and Erbil to Secure Oil Exports Resumption

The Presidency of the Kurdistan Region received a high-ranking federal military delegation to discuss the security file concerning oil companies operating in the region. This step, directed by the Fed...

Ministry of Oil Allocates Free Fuel Quota for Residential Generators to Ease Summer Burdens

The Ministry of Oil, through its petroleum products distribution companies, announced the release of the gas oil (diesel) quota for residential generators for July, in response to government directive...