Oil Ministry Finalises Export Figures for May

By John Lee. Iraq’s Ministry of Oil has announced final oil exports for May of 110,737,293 barrels, giving an average for the month of 3.572 million barrels per day (bpd), up from the 3.466 million bpd exported in April. These exports from the oilfields in central and southern Iraq amounted to 106,675,881 barrels, while exports […]

TechnipFMC Fined for Iraq Bribes

By John Lee. Oil services firm TechnipFMC (TFMC) has agreed to pay $296 million to resolve allegations that the company paid bribes in Brazil and Iraq. TFMC is the product of a 2017 merger between two predecessor companies, Technip S.A. and FMC Technologies, Inc.. The admissions and court documents establish that beginning by at least […]

Parliament Approves 3 Key Ministers

By John Lee. The Iraqi parliament has approved Prime Minister Adil Abul-Mahdi’s nominees to three key ministries, according to Associated Press: Defense: Najah al-Shammari; Interior: Yassin al-Yassiri; Justice: Farouq Amin Othman. The positions have been vacant since October. A nominee for the position of Minister for Education — Safana al-Hamdani — however, failed to receive […]

Iran, Iraq to Expand Tourism Ties

By John Lee. Iraq and Iran have reportedly signed a memorandum of understanding (MOU) relating to cooperation in the tourism sector. According to Tehran Times, the document includes the areas of medical tourism and religious tourism, and was agreed between Iran’s Cultural Heritage, Handicrafts and Tourism Organization, and Iraq’s Ministry of Culture, Tourism and Antiquities. […]

Gulf Tensions: Iraq worried about Economy

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq exports around 3.5 million barrels of oil a day. Heightened regional tensions between the US and Iran and recent attacks on oil tankers in the Gulf have heightened security fears. The government […]

Exxon’s $53bn Iraq deal “in Difficulty”

By John Lee. ExxonMobil‘s giant oil project in southern Iraq is reportedly on hold. According to Reuters, a combination of contractual difficulties and security concerns is delaying agreement on the $53-billion Southern Iraq Integrated Project, which includes the construction of a water treatment plant needed to boost oil production. The deal would have seen Exxon […]

Iran Offers to Fulfill Iraq’s Air Defense Needs

A top commander voiced Iran’s readiness to provide neighboring Iraq with whatever means necessary for air defense. In comments on Sunday, Commander of Khatam al-Anbia Anti-Aircraft Base of the Iranian Army, Brigadier General Alireza Sabahi Fard, said the Iranian Air Defense is fully prepared to satisfy Iraq’s air defense demands in all areas. By relying […]

Iran “turning Iraq into Battleground against US”

By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iran already turning Iraq into battleground against US As tension intensifies between Washington and Tehran, attacks against US interests in Iraq are increasing quickly and significantly. A short-range Katyusha missile on June 19 hit the […]

GardaWorld Weekly Security Report

GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld’s Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments […]

GKP Shares Gain following Update

Shares in Gulf Keystone Petroleum (GKP) closed Friday up 3.5 percent after the company issued the following operational and corporate update ahead of its AGM: Operational Workovers on SH-1 and SH-3 have now been completed, resulting in the anticipated material production uplift at both wells.  Production from SH-1 has increased by 105% to 7,800 bopd […]