Archive | Iraq Oil & Gas News

Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.

Iraq Extends Deadline for Qayara Refinery Bids

By John Lee. Iraq has extended the deadline to bid for the construction and operation of a new 100,000-bpd Qayara refinery. The full statement from the Ministry of Oil is as follows: The ministry of oil would like to announce for the investment refinery in Ninawa governorate/ Qayara with a capacity of 100 thousand barrels […]

Oil Ministry Finalises Export Figures for March

By John Lee. Iraq’s Ministry of Oil has announced final oil exports for March of 107,050,000 barrels, giving an average for the month of 3.453 million barrels per day (bpd), a slight increase from the 3.426 bpd exported in February. The exports were entirely from the southern terminals, through 39 international companies, with no exports registered […]

Exxon, Baghdad face Setback on Seawater Project

By John Lee. Talks between ExxonMobil and Iraq on the multi-billion-dollar Common Seawater Supply Project (CSSP) have reportedly reached an impasse. According to Reuters, two sides differ on contract terms and costs. Ian Thom, principal analyst at consultancy Wood Mackenzie, told the news agency: “The CSSP would be expensive and challenging but there’s opportunity here […]

Genel Energy receives Payment for January Sales

Genel Energy has announced that the Taq Taq partners have received a gross payment of $8.30 million from the Kurdistan Regional Government (KRG) for oil sales during January 2018. Genel’s net share of the payment is $4.57 million. Genel also notes the announcement from DNO ASA, as operator of the Tawke PSC, that the Tawke […]

Iraq: Building a Diversified and Modern Economy

IBBC Spring Conference 2018 Iraq: Building a diversified and modern economy  Tuesday 24 April at Mansion House, London IBBC’s Spring Conference returns on 24 April 2018, bringing to the heart of London the preeminent political and business figures involved in business and the economy of Iraq. The theme for this years’ conference is Iraq: Building […]

Turkish Firm wins Contract at Garraf

Turkish oil and gas services company Ergil has been awarded a design, engineering, fabrication, and testing contract by China Petroleum Engineering & Construction Corporation ( CPECC), for Petronas‘ Garraf oil field. The company says it has completed designing, manufacturing and supplying of 12 units 320-bar high-pressure pig receivers and launchers, 28 units pig signallers, 12 […]

GKP Confirms Payment for January Sales

By John Lee. Gulf Keystone Petroleum (GKP) has confirmed that a gross payment of $23.1 million ($17.8 million net to GKP) has been received from the Kurdistan Regional Government (KRG) for Shaikan crude oil sales during January 2018. (Source: Gulf Keystone)

Iraq Postpones Oil and Gas Auction

By John Lee. Iraq’s Ministry of Oil has reportedly postponed its oil and gas bidding round for 11 new blocks to 25th April. Abdul Mahdi al-Ameedi, director general of the Petroleum Contracts and Licensing Directorate (PCLD), told Reuters: “The bidding process was rescheduled to be on April 25. It is just to give the companies […]

5 Firms Shortlisted for Major Water-Injection Project

By John Lee. According to a report from Platts, Iraq has shortlisted five international engineering companies to bid for the first phase of the Common Seawater Supply Project (CSSP), a major water-injection project that will help the country boost long-term production from its southern oil fields. The project would take in around 5 million barrels […]

GKP Shares Rise on Annual Results

Shares in Gulf Keystone Petroleum (GKP), operator of the Shaikan Field in the Kurdistan Region of Iraq, closed up more than 4 percent on Wednesday following the announcement of its results for the year ended 31 December 2017. Highlights to 31 December 2017 and post reporting period Operational Strong safety performance during 2017; 3 million […]