Tag Archives | ExxonMobil

PM al-Abadi Meets Oil Bosses

During his visit to Washington this week, Prime Minister Haider al-Abadi received the Chairman and CEO of Occidental Petroleum, Mr. Steve Chazen, and the Chairman and CEO of Exxon Mobil, Mr. Rex Tillerson, in separate meetings. Both chairmen discussed the progress in oil production in Iraq, and thanked the Prime Minister for the security and […]

GKP ex-Chairman Claims “Forced Out”

By John Lee. Gulf Keystone‘s former Chairman Simon Murray (pictured), whose retirement was announced by the company on Tuesday, told Reuters he was effectively forced to quit the company. Murray said he disagreed with the firm’s decision to raise $41 million through an equity issue at a 21 percent discount to the market, a move intended […]

Exxon in Talks Govt on Oil Payments

By John Lee. The Iraqi government has reportedly requested talks with Exxon Mobil to restructure oil agreements to help Iraq meet its near-term cash requirements. CEO Rex Tillerson (pictured) is quoted by Reuters as saying that “by and large we are current in our payments,” adding that any change would have to be beneficial to […]

ISIS Targets ExxonMobil Site

By John Lee. Islamic State (IS, ISIS, ISIL) militants have attacked Peshmerga forces on the Khazir frontline, north of Mosul, with the aim of seizing equipment and machinery belonging to US oil company ExxonMobil. A Peshmerga commander told BasNews that the extremist group was forced back from the area, including the key villages of Wardik […]

Iraq Approves $278m Halliburton Deal

By John Lee. The Iraqi cabinet has approved a drilling deal with Halliburton value at $278.5 million (324 billion Iraqi dinars). Reuters reports that under the 30-month contract, Halliburton will drill 30 oil wells in the 8.7-billion-barrel West Qurna-I field, operated by U.S. major ExxonMobil. Production at the field is currently running at around 360,000 bpd […]

Oryx and Others Remove Staff from Iraq

By Patrick M Schmidt. As the United States begun strikes against Islamic State of Iraq and the Levant (ISIL) militants, Canadian oil firm, Oryx, began evacuations of staff from their facilities in the Kurdistan region. The company announced that portion of its Demir Dagh oil field had been shut down. Drilling and other operations continued […]

Mystery Buyer of Kurdish Oil Revealed

After months of remaining out of public knowledge, the buyer of Kurdish oil in America has been revealed. The chemical firm LyondellBasell purchased two tankers worth of Kurdish oil in May. The shipments totaled nearly 533,000 barrels of oil and at the time did not result in any legal action. Data retrieved from the U.S. […]

Oil Price Surges amid Iraq Turmoil

By John Cookson. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Traders will tell you the price of oil is a speculative market based on expectations. Most of Iraq’s oil production is from the mega fields in the south, far from any fighting. But […]