Tag Archives | Oil

The latest Oil & Gas industry news from Iraq – security updates, oil industry events and more – brought to you by Iraq Business News

Weekly Security Update, 25 November – 01 December 2014

PM Abadi’s political manoeuvres continued to lead to a number of dismissals within key ministries. On 01 December, the Prime Minister retired 24 senior Interior Ministry officials as part of government restructuring. This decision comes as central authorities uncovered an estimated 50,000 ‘ghost soldiers’ on the military payroll, prompting the government to take steps towards […]

Marathon Expects Kurdish Oil Production by 2015

On Thursday, Marathon Oil Corp. said it expects to start producing oil from its operations in the Kurdish region of Iraq within the next two years. The company posted an 8.4 percent increase in net income for the second quarter of 2013, according to its quarterly report. According to UPI, the company said it is planning […]

Iraq Now 2nd Biggest OPEC Oil Producer, Bigger Budget In 2013

Iraq continues to grow its oil production at a good pace. Having recently breached the three million barrels of oil in a day mark, it is now averaging over a month 2.6m b/d, the most in three decades, according to Falah Alamri, the head of the State Oil Marketing Organisation. With Iran’s oil production having stalled recently, […]

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Dunia Weekly Iraq Market Tracker

Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]

Dunia Weekly Iraq Market Tracker

Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]

Al-Ahdab Oilfield Three-Years Ahead Of Schedule

Capacity at Al-Ahdab oilfield reached 120,000 bpd on Friday, three years ahead of schedule, according to Reuters. The one-billion barrel field in Wassit Province, central Iraq, is being developed by Chinese firm CNPC. The firm started production at 60,000 bpd in summer, six months ahead of schedule and it has doubled it far faster than […]

Iraq Could Slash Deficit Next Year

The high price of oil could prove the latest projection of a USD14.5bn budget deficit in 2012 as being too pessimistic. The Cabinet approved a $100bn budget for 2012 in the first week of December, although it is still waiting for Parliament to give its approval. The budget is based on oil at an average […]

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