Search Site

Trends banner

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Iraq to harness Associated Petroleum Gas to generate electricity

The Iraqi government has launched a project to harness the Associated Petroleum Gas for generation of electricity.
  • The project's principal advisor Mounir Bouaziz said that the field's production capacity is scheduled to range from 400,000 to 500,000 barrels of light oil per day
  • Once completed, the project will eliminate the need for import of a significant portion of gas while also meeting the requirements for operating electric power plants

Baghdad, Iraq – The Iraqi government has launched a project to harness the Associated Petroleum Gas (APG) from the Bin Omar field, an oil reserve located in the Basra Governorate, for generation of electricity. 

The project’s principal advisor Mounir Bouaziz said that the field’s production capacity is scheduled to range from 400,000 to 500,000 barrels of light oil per day. He noted that the project includes integrated gas processing in the field and the production of 150 million cubic feet of raw gas per day in the first phase to reach 300 million cubic feet per day at the end of the project.

Bouaziz added that 120 million cubic feet will be allocated for the production of electric power, noting that Iraq currently produces about 1,300 million standard cubic feet of gas, and imports about 750 to 1,000 million standard cubic feet from neighboring countries.

He explained that once completed, the project will eliminate the need for import of a significant portion of gas while also meeting the requirements for operating electric power plants.