Iraq’s Maysan Oil drills first well on Iranian border

11/07/2017 13:27 Oil Market


Iraq’s state-owned Maysan Oil will survey the production of oil and gas at the Haifaya oil field, which was opened while the Oil Minister Jabrane Al-Luaibi was visiting.

The minister said that the expansion works the field is currently under will enable a boost in it’s production, expected to reach 400,000 barrels per day by the end of 2018.

The relationship between Iran and Iraq have been cordial for the past few years, especially since Iran finally started exporting natural gas to Iraq following security-related setbacks. 

The daily quota of the exports kicked off at around 7 million cubic meters the previous month, and should come to 35 million cubic meters somewhere in the near future.

Iraq is OPEC’s second largest oil producer, lagging Saudi Arabia only when concerning national output. In May and June, production from OPEC countries boosted by 220,000 barrels per day, and the outpouring productivity from Libya and Nigeria caused the bloc to outpace its 31.9 million barrels per day maximum by 600,000 barrels.

South west England will have nuclear contracts valued at £50 billion

11/12/2017 16:31:00

Nuclear Industry Association (NIA) considers that over the next 20 years, there will be at least £50 billion nuclear contracts signed in the south west of England.


Russia starts a massive gas project in the Arctic

11/12/2017 16:12:00

Russia started its Yamal gas unit, a huge project in one of the most isolated regions in the world, as this is becoming more accessible because of climate change.


China to build the largest floating solar project in the world

11/12/2017 13:21:00

A unit of China Three Gorges is constructing the world’s biggest floating solar plant estimated at 1 billion yuan (US$151 million), located in the country’s eastern province of Anhui.