Tag Archives | oil contracts

Important Oil Projects — Dubious, Non-Transparent Contracts

By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Developing Border Oilields and Utilizing Associated Natural Gas: Important Projects, Dubious and Non-Transparent Contracts Information from and about the Ministry of Oil has been published and circulated extensively, in the last few […]

Iraqi Kurdistan Oil a Slippery Issue

By Ali Mamouri for Al Monitor. Any views expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News.  Iran and Turkey are trying to extend their economic influence over Iraqi Kurdistan oil, even as controversy flares over surreptitious deals between Kurdistan and Turkey. Iraqi Kurdistan has been shipping […]

Oil Ministry asks IOCs to drop Dubai Offices

By John Lee. Reuters reports that Iraq has asked international oil companies to save costs by shutting down their prestige offices in Dubai and running their Iraqi operations from within Iraq. Oil companies with contracts in Iraq have to clear spending with Baghdad, including staffing costs, and are then repaid with income from Iraq’s exports […]

Iraq Prepares to Amend Existing Oil Contracts

By Omar Sattar, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Oil revenues accruing from oil field development and production in Iraq no longer match the revenues made before the licensing contracts the Ministry of Oil signed in 2009-2010. The Iraqi government will be […]

Iraq to pay $2bn in Arrears to Foreign Companies

By John Lee. Shafaaq reports that Iraq will pay foreign oil companies about $2 billion in remaining arrears for 2015 in April. The arrears were accumulated to international oil companies (IOCs) such as BP, Shell , ExxonMobil, Eni and Lukoil, which operate in under service contracts, whereby they are paid a fixed dollar fee for […]

Presentation on Iraq’s Oil Service Contracts & Bidding Rounds

Mr. Abdul Mahdy Al-Ameedi, the Director General of Petroleum Contracts and Licensing Directorate (PCLD), delivered a presentation to the Iraqi parliament on 13th December 2015 on the subject of Iraq’s oil service contracts and bidding rounds. The presentation (in Arabic) provides an excellent comparison between the Ministry’s Service Contracts and Production Sharing Contracts of the […]

KRG Clarifies Payments – Oil Shares Up Sharply

By John Lee. Shares in Gulf Keystone Petroleum (GKP) were up 28 percent on the London market this morning, after the Kurdistan Regional Government’s Ministry of Natural Resources clarified its export payment plan for foreign oil companies. Other companies with exposure to Iraqi Kurdistan, includingn Genel Energy and DNO, also saw their shares rise significantly. […]

Long Term Service Contracts are Good But Not Perfect

By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Long Term Service Contracts Are Good But Not Perfect My article on Service Contracts Vs Production Sharing Contracts Revisited, posted on this IBN website, has attracted good deal of formal and professional […]

Service Contracts Vs Production Sharing Contracts Revisited

By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Service Contracts Vs Production Sharing Contracts Revisited Debating the performance of the service contracts and viability of production sharing contracts as alternative seems to reenergizes lately among Iraqi professionals; this is prompted […]