Latest news with #HayanAbdulGhani
Shafaq News
7 hours ago
- Business
- Shafaq News
Iraq fast-tracks DS2 project at Majnoon oil field
Shafaq News – Basra On Saturday, the Iraqi Minister of Oil Hayan Abdul Ghani inspected the Majnoon oil field in Basra province to assess progress on projects implemented under national management. According to a statement by the ministry, Abdul Ghani reviewed progress at the DS2 processing station, which is 85% complete and expected to be finalized by the end of this year. DS2 refers to a processing facility located within major oil fields in Iraq, notably Rumaila and Majnoon. It plays a vital role in the early stage of production by separating oil, gas, and water extracted from underground reservoirs. During a meeting attended by members of parliament, he stressed that strategic development projects are essential for boosting crude oil output and advancing gas sector investment.
Iraq Business
4 days ago
- Business
- Iraq Business
HKN Energy to Develop Iraq's Hamrin Oil Field
By John Lee. The Ministry of Oil has signed an agreement in principle with HKN Energy to develop the Hamrin field in northern Iraq. The agreement, signed on Tuesday between North Oil Company (NOC) and the US-based company aims to increase the field's output to 60,000 barrels per day, up from the current 20,000-25,000 bpd, and to capture and utilise 45-50 million standard cubic feet per day (mmscfd) of associated gas for power generation. Oil Minister Hayan Abdul Ghani highlighted the government's commitment to working with reputable American and Western companies to develop Iraq's oil and gas assets and enhance energy output in support of the national economy. He noted the importance of investing in associated gas to help power electricity generation stations. The agreement was signed in the presence of ministry officials, US Chargé d'Affaires Steven Fagin, and representatives from both companies. Fagin welcomed the partnership and expressed hope for more US business engagement in Iraq. North Oil Company Director General Amer Khalil said the agreement lays the foundation for a future development contract covering all wells in the field and aims to train local staff and provide gas to electricity plants. Matthew Zais, Vice President of HKN, said the company is proud to partner with the Ministry of Oil and aims to maximise the field's capacity while employing 80 percent Iraqi workers and contributing to local community development. Earlier in the day, HKN reported an explosion at its Sarsang operations in Iraqi Kurdistan. In May, HKN Energy and ONEX Group signed a binding term sheet with the Kurdistan Regional Government (KRG) to develop the Miran gas field through their new joint venture, Miran Energy. The KRG and Iraq's federal government have disagreed over the legitimacy of that contract. (Source: Ministry of Oil)
Zawya
10-07-2025
- Business
- Zawya
Iraq's oil wealth exceeds 145bln barrels
Iraq's proven reserves have surpassed 145 billion barrels of crude oil and 132 trillion cubic feet of natural gas, Oil Minister Hayan Abdul Ghani has announced. During a panel discussion at the Ninth International OPEC Workshop in Vienna, Ghani emphasized the need for strong and consistent government commitments to finance energy projects across all sectors to ensure long-term energy security. He underscored the continued importance of fossil fuels in meeting global energy demands, describing them as a key driver not only for infrastructure growth but also for advancing clean energy efforts, especially in developing countries that require economic support to improve vital sectors such as healthcare, education, and essential services. Ghani said, 'sustained investment in oil and gas remains critical for both global energy stability and inclusive economic development.' However, he warned that current investment levels are insufficient to meet future demand, particularly as the global population and industrial activity continue to grow. 'Adequate financing is necessary to balance traditional energy supply with progress in clean energy technologies,' he said. The minister also outlined Iraq's role in the global energy transition, pointing to major initiatives aimed at capturing associated and natural gas that would otherwise be flared. 'These efforts align with Iraq's climate commitments and aim to strike a balance between economic development and environmental responsibility,' he said. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Iraq Business
09-07-2025
- Business
- Iraq Business
Diwaniya Refinery to get 70,000 bpd Boost
By John Lee. Iraq's Ministry of Oil has started work to expand the Diwaniya Refinery by adding a new 70,000-barrel-per-day (bpd) processing unit, bringing the refinery's total capacity to 90,000 bpd. Minister of Oil, Eng. Hayan Abdul Ghani, confirmed the Ministry's commitment to enhancing production at Iraqi refineries, with a focus on achieving self-sufficiency in petroleum products and meeting international standards such as Euro 5. Prime Minister Mohammed Shia' al-Sudani launched the expansion project remotely via video link on Monday, with Minister Abdul Ghani and senior officials present. On-site execution was formally initiated by Deputy Minister for Refining Affairs, Adnan Mohammed Hammoud, alongside Haitham Ibrahim Mohsen, Director General of the Midland Refineries Company (MRC). The project includes a new 70,000-bpd refining unit, an 18,000-bpd unit for hydrotreating, isomerisation, and gasoline upgrading, as well as an LPG production unit and supporting infrastructure. Planned outputs include Euro 5-grade gasoline, naphtha, kerosene, gasoil, fuel oil, and liquefied petroleum gas (LPG). The project is scheduled for completion within five years. The contract for the $800-million project was signed in February. (Source: Ministry of Oil)
Iraq Business
02-07-2025
- Business
- Iraq Business
Iraqi Oil Minister Meets Russian Energy Delegation
By John Lee. Iraq's Minister of Oil, Hayan Abdul Ghani, held talks in Baghdad on Wednesday with Russian Ambassador Elbrus Kutrashev and a delegation from Russian energy giant Lukoil. The meeting focused on strengthening cooperation between Iraq and Russia in the oil, gas, and energy sectors. Also in attendance were Bassem Mohammed Khudair, Undersecretary for Extraction Affairs, and Bassem Tahir, Director General of the Petroleum Contracts and Licensing Directorate (PCLD) at the Ministry of Oil. (Source: Ministry of Oil)
