Tag Archives | Russia

Rosneft Discovers Oil at Block 12

By John Lee. Bashneft, a subsidiary of Russia’s Rosneft, has found oil at its Salman-1 exploratory well at Block 12 in Iraq. In a statement, the company said that an exploration well was successfully drilled to depth 4,277 metres; oil was found, “which gives grounds for expecting the discovery of industrial reserves“. Rosneft said it […]

New Development Plan for West Qurna-2

LUKOIL and the Basra Oil Company (BOC) signed a Development Plan for the West Qurna-2 field that provides for an oil production plateau of 800 thousand barrels per day. According to the Plan, the oil production of 480 thousand barrels per day will be reached in 2020 and 800 thousand barrels per day is expected […]

Moscow’s Iraq Strategy: Make Lots of Friends

By Ruslan Mamedov for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.  Moscow’s interest in the Middle East and the growing Russian presence in the region go beyond Russian involvement in the Syrian civil war. For several years Russia has been building partnerships […]

Gazprom Neft commissions Second Well at Sarqala

Gazprom Neft subsidiary Gazprom Neft Middle East B.V. has commissioned a second well — the Sarqala-2 — at its Sarqala field (within the Garmian block), located in the Kurdistan Region of Iraq (KRI). The new well is currently producing 11,000 barrels per day (bpd), with potential to increase this to 15,000. Total daily production at […]

Oil Ministry, Rosneft discuss increasing Cooperation

By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has met with Deder Kasemero, the vice president and the regional manager of Rosneft, to discuss the expansion of cooperation in the Iraqi oil and gas sector. The Minister said he is open for international companies such as Rosneft to participate in investment projects to […]

Lukoil reports Less Compensation Oil from West Qurna-2

By John Lee. Russian oil company Lukoil has said that lower volumes of compensation crude oil from the West Qurna-2 project in Iraq had “a negative impact on EBITDA dynamics“. In its audited consolidated financial statements for the full year of 2017, it added that net of this project, EBITDA increased in 2017 by 17.8 […]

Procurement in Iraq: Cinderella or Superman?

By Elena Kornienko. Little did I know back in 1999 when I got my first job in procurement on the Sakhalin-2 project which became one of the mega projects in oil and gas industry not only in Russia but also worldwide. I was young, ambitious and also very naive about what years later became my […]

Russia to supply more T-90S Tanks to Iraq

By John Lee. Russia will continue to supply Iraq with T-90S main battle tanks (MBTs), according to a report from Army Recognition. Vladimir Kozhin, Russian presidential aide for military and technical cooperation, told Rossiya 24 TV: “Iraq is our traditional partner and it has been boosting its potential by ordering our equipment. Today we are […]

Mueller witness “Helped Broker” $4.2bn Iraq-Russia Arms Deal

By Laura Rozen for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The dealmaker: Mueller witness helped broker $4.2 billion Iraq-Russia arms deal A Lebanese-American businessman reported to be cooperating with Special Counsel Robert Mueller’s Russia probe helped broker a controversial 2012 Iraq-Russia arms deal valued at […]

Iraq Denies Deal to buy Russian S-400 Missiles

The Iraqi government has denied concluding any deal with Russia to supply Baghdad with S-400 anti-aircraft missiles, but confirming Iraq’s right to import weaponry from any country in the world. “So far, Iraq has not concluded any deal with Russia to import the S-400 air defence system” government spokesman Saad al-Hadithi stated on February 26. […]

Iran to process Russian Wheat for Iraqi Flour Market

By John Lee. Iran is said to be negotiating a deal to import around 100,000 tonnes of wheat per month from Russia, enabling private millers it to increase flour exports to Iraq. Iraq imports about 3 million tons of flour a year, almost half of its demand of 6.9 million tons a year. According to […]

Iraq Receives First Batch of Russian T-90 Tanks

Iraq has received the first batch of Russian-made T-90 battle tanks as part of a purchase agreement signed last year, according to an Iraqi Defence Ministry spokesman. “The first batch of Russian tanks arrived on February 15 at Umm Qasr Port – they have since been transported to Baghdad via the city of Basra”. The […]