• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 58 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 10 days Does Toyota Know Something That We Don’t?
  • 4 days America should go after China but it should be done in a wise way.
  • 10 days World could get rid of Putin and Russia but nobody is bold enough
  • 10 hours "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 12 days China is using Chinese Names of Cities on their Border with Russia.
  • 10 hours The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 2 days Even Shell Agrees with Climate Change!
  • 3 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 4 days How Far Have We Really Gotten With Alternative Energy
  • 12 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
Oil Rises Ahead of Weekly Inventory Data

Oil Rises Ahead of Weekly Inventory Data

Preview Text: Crude continues to…

Iran Starts Exporting Nat Gas To Iraq

Iran has finally started exporting natural gas to its neighbor Iraq, after a four-year delay due to the challenging security situation in war-torn Iraq. The exports have started at a daily rate of 7 million cu m, according to a deputy oil minister who spoke to IRNA, as quoted by Reuters, but should reach 35 million cu m at an unspecified point in the future.

The gas will be supplied under two contracts, one for exports to Baghdad power plants, and the other to Basra. Iran already supplies electricity to its energy-hungry neighbor.

Last year, there were reports that the gas exports would begin in September 2016, with the initial amount the same, at 7 million cu m, later to rise to as much as 70 million cu m. Yet, in addition to security concerns, there was trouble with the funding and operational issues with the construction of the pipeline that would supply the fuel, the Financial Tribune notes.

Currently, Iran exports some gas to Turkey, but the bulk of its production stays at home, to be used both for things like power generation and heating, and for oil well injection to boost the crude oil yield of local fields. This increased use of natural gas, and plans to start exporting it on a larger scale highlight the significance of Total’s recent announcement to commit US$1 billion to the development of phase 11 of the giant offshore South Pars field.

The contract for the development of the field should be signed within the next two weeks, according to Ali Kardor, the managing director of the National Iranian Oil Company. South Pars, which Iran shares with Qatar, is the world’s biggest natural gas deposit, with the Iranian portion accounting for about 7.5 percent of global gas reserves.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News