Iraq’s oil revenues went up by $300 million during the last month of 2009 to hit $4.499 billion through the sale of 61.3 million barrels at a rate of $73.39 per barrel, the Iraqi oil ministry announced on Saturday. “Crude oil exports rose in December 2009 compared to November 2009 during which 57 million barrels […]
Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
It may be the start of the biggest oil job in the world. Each day, 20 workers from BP and China National Petroleum Corp. (CNPC) buckle down to the task of prepping the Rumaila oil field in southern Iraq for rapid development. In industry lingo, Rumaila is a “supergiant”—a 50-mile-long deposit of sweet crude with […]
Norwegian oil producer DNO’s fourth-quarter net entitlement production from Yemen showed a small drop in the fourth quarter, and total production fell heavily due to the halt in Iraqi exports. DNO’s fourth quarter NI production from Yemen, which best reflects DNO’s actual share of the output; fell to 4738 from 4987 bpd in the third […]
The Iraqi Ministry of Oil on Monday will sign the final contract with a consortium led by Exxon Mobil Corp and Royal Dutch Shell, under which the firms will be allowed to develop the West Qurna-1 field in southern Iraq. “The contract aims to increase the field’s production to 2.325 million barrels per day (bpd),” […]