Iraq sits atop vast oil reserves but fails to fully exploit them, a former oil minister said Wednesday, criticizing the country’s energy policies and OPEC-imposed restrictions.

Hopes for a resumption oil flows have been buoyed by the Iraqi parliament’s approval last week of a budget amendment.

The East Baghdad field, one of the important oil fields in Iraq, recently had a discovery that increased its reserves to 15 billion barrels.

The failure to implement the CSSP, critical for water injection and sustaining production, has stalled Iraq’s oil expansion.

Mohammed Yassin Hassan, director general of the company, said, the new discovery is expected to add more than two billion barrels to Iraq's oil reserves, according to a statement by the company.

He expected that it would add more than two billion barrels to Iraq's oil reserves, making it the largest oil discovery in central Iraq. He noted that the initial tests of the well showed a daily ...

Oil major BP is expected to spend up to $25 billion over the lifetime of a project to redevelop four Kirkuk oil and gas ...

The approval of a plan by the Iraqi Parliament to increase payments to international oil companies operating in the ...

DUBLIN--(BUSINESS WIRE)--The "Iraq Midstream & Downstream Oil & Gas Market Outlook: Supply & Demand of Oil, Gas, Gasoline, Diesel, Fuel Oil, Future Investments, Projects, Refining, LNG ...

British Petroleum (BP) might spend up to $25 billion over the course of a project to develop four oil and gas fields in Kirkuk.

He expected that it would add more than two billion barrels to Iraq's oil reserves, making it the largest oil discovery in central Iraq. He noted that the initial tests of the well showed a daily ...