• 1 day PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 1 day Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 1 day Syrian Rebels Relinquish Control Of Major Gas Field
  • 2 days Schlumberger Warns Of Moderating Investment In North America
  • 2 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 2 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 2 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 2 days New Video Game Targets Oil Infrastructure
  • 2 days Shell Restarts Bonny Light Exports
  • 2 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 2 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 2 days British Utility Companies Brace For Major Reforms
  • 2 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 3 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 3 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 3 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 3 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 3 days Rosneft Signs $400M Deal With Kurdistan
  • 3 days Kinder Morgan Warns About Trans Mountain Delays
  • 3 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 3 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 3 days Russia, Saudis Team Up To Boost Fracking Tech
  • 4 days Conflicting News Spurs Doubt On Aramco IPO
  • 4 days Exxon Starts Production At New Refinery In Texas
  • 4 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 5 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 5 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 5 days China To Take 5% Of Rosneft’s Output In New Deal
  • 5 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 5 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 5 days VW Fails To Secure Critical Commodity For EVs
  • 5 days Enbridge Pipeline Expansion Finally Approved
  • 5 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 5 days OPEC Oil Deal Compliance Falls To 86%
  • 5 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 6 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 6 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 6 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 6 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 6 days Aramco Says No Plans To Shelve IPO
Can Trump Drive A Wedge Between Saudi-Russian Alliance?

Can Trump Drive A Wedge Between Saudi-Russian Alliance?

Trump’s Iran deal decertification threatens…

Clashes In Kurdistan Send Oil Prices Higher

Clashes In Kurdistan Send Oil Prices Higher

Reports of skirmishes between Iraqi…

Iran To Begin Gas Exports To Iraq Once Baghdad Starts Paying

Pipeline

Iran is ready to begin exporting natural gas to Iraq via a pipeline as soon as Baghdad starts making payments, Iranian deputy oil minister for international affairs and trade, Amir-Hossein Zamaniniya, has said.

“Iran is ready to start the export of gas to Iraq and Iraq is also ready to receive the gas. However, the related letter of credit (L/C) for the project is yet to be opened,” Iran’s Press TV reported on Tuesday.

Iran and Iraq signed an agreement in 2013 under which Iran would export natural gas from its huge South Pars field to power plants in Sadr, Baghdad and al-Mansuriya in Iraq. The project is expected to bring Iran US$3.7 billion in revenues annually.

Last week, Iran’s oil minister Bijan Zangeneh told the oil ministry’s news service Shana that the country’s gas production had increased by 50 percent over the past three years thanks to new development phases at South Pars.

A year after the lifting of the western sanctions, Iran is eager to regain its previous oil export market share and sign deals with oil and gas majors for the development of its vast crude oil and natural gas resources.

Just recently, the National Iranian Oil Company (NIOC) released the list of 29 companies that have qualified for bidding in oil and gas tenders.

Related: Russia Has Started Cutting Oil Output: Kremlin

The list shows that the biggest European producers, including Shell, Eni, Total, and OMV have all qualified. BP, however, has pulled out of the race because of worry that relations between Iran and the U.S. will get heated once Donald Trump takes office later this month, according to the Financial Times.

Those that qualified also include China’s Sinopec, CNPC, CNOOC, and CNPW, as well as the state-owned oil companies of Indonesia and Malaysia – Pertamina and Petronas – plus Japan’s INPEX Corporation, Itochu, Mitsui, and Mitsubishi, and Japan Petroleum Corporation. Russian Gazprom and Lukoil were also among those qualified for the tenders, as were Danish Maersk, Indian ONGC, and Polish PGNiG.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News