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.

Basra Oil Jetty Resumes Operations

By John Lee. Basra oil terminal, which was damaged by a tanker collision last month, is reported to have been successfully repaired on Sunday. Officials at the South Oil Company (SOC) told Reuters that a one-million-barrel tanker was loading light crude at the terminal on Monday. Total crude oil exports had not been affected by […]

AWB ex-Chairman Fined over Iraq Food-for-Oil Scandal

By John Lee. A former chairman of the Australian Wheat Board (AWB) has been fined $50,000 and banned from a managing a corporation for five years for failing to properly investigate $223 million in kickbacks paid to Saddam Hussein’s regime in Iraq. But according to a report from ABC News, Trevor Flugge’s reputation for honesty […]

LUKOIL completes 3D Seismic Survey at West Qurna-2

Russia’s LUKOIL has reported that it has completed a field 3D seismic survey at West Qurna-2 field. The survey covered an area of about 450 square kilometers. The Company has fulfilled all of its contractual obligations to the Ministry of Oil of Iraq. The high-quality seismic data obtained are required for the updating of the […]

Back to the Future: The Restoration of Iraq, and British Expertise

By Ashley Goodall. Back to the future.  The restoration of Iraq and British expertise. Iraq has been in the news for a generation and our perceptions have been coloured by conflict and the near destruction of the Middle East’s most wealthy and civilised country. In the 1970’s Iraq was not only a secular and relatively […]

Interview with Zaid Elyaseri, Iraq Country Manager, BP Iraq

The CWC Group’s Director, Nawar Abdulhadi interviews Mr Zaid Elyaseri, Iraq Country Manager, BP Iraq ahead of the 11th edition of the Iraq Petroleum Conference in May. Mr Elyaseri shares with us his experience working in the Rumaila oilfield, how BP is optimising and innovating in the current market and his outlook for the future […]

WesternZagros Announces 42% Production Increase at Sarqala-1

WesternZagros Resources has announced that the operator, Gazprom Neft Middle East B.V. (“Gazprom Neft”), has successfully performed an acid stimulation on the Sarqala-1 well located on the Garmian Block in the Kurdistan Region of Iraq in order to increase the well productivity. The acid stimulation was completed on March 31, 2017 and Sarqala-1 is currently […]

DNO Reports Payment for Tawke Deliveries

DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 46.15 million from the Kurdistan Regional Government (KRG) as payment towards January 2017 crude oil deliveries to the export market from the Tawke field. The funds, to be shared pro-rata by DNO and partner Genel Energy plc, include USD 38.70 million toward […]

Egypt Approves Deal to Import Oil from Iraq

The Egyptian Petroleum Minister, Tareq al-Mulla (pictured) has stated that the Egyptian cabinet, during its meeting on 10 April under Prime Minister Sherif Ismail, approved buying oil from Iraq and clinching a deal to import about million barrels monthly, with a total of 12 million barrels annually. Mulla added that the first oil shipment is […]

Counter-ISIL Strikes Hit Terrorists in Syria, Iraq

U.S. and coalition military forces continued to attack the Islamic State of Iraq and Syria, conducting 27 strikes consisting of 89 engagements against ISIS targets on Sunday, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes […]

Interview with Gati Saadi Al-Jebouri, VP of LUKOIL

The CWC Group’s Director, Nawar Abdulhadi interviews Mr Gati Saadi Al-Jebouri, LUKOIL Vice President, Head of Middle East Upstream in preparation for the 11th edition of the Iraq Petroleum Conference in May. Mr Al-Jebouri gives us his views on the Iraqi industry, how LUKOIL is working successfully in the country and his outlook for the […]

Genel Energy buys back Bonds at Discount

By John Lee. Genel Energy has decided to repurchase a nominal amount of USD 252.8 million of Bonds in connection with its recent Buy-Back Offer. The Bonds will be repurchased at the price offered by each bondholder up to and including 89.90% of par value. The Bonds are being repurchased at a weighted average price […]