India’s oil imports from Iraq jumped 53 per cent in August

India’s oil imports from Iraq jumped 53 per cent in August

Sanction-hit Iran’s fear of losing market share to other members of the Organization of Petroleum Exporting Countries (OPEC) seems to be coming true with one of its biggest buyers – India – gradually turning towards Iraq, Saudi Arabia and Nigeria to meet oil requirements.

Iraq To Reduce Fees Paid To Foreign Oil Companies

Iraq To Reduce Fees Paid To Foreign Oil Companies

Iraq will exclude oil by-products from foreign oil companies’ revenues in new contracts expected to be awarded in June, an oil ministry official said on Thursday, effectively reducing production fees they receive from the government.