Tag Archives | Russia

Baghdad denies Russian Claims regarding KRG Oil Deals

By John Lee. The Iraqi Ministry of Oil has denied reports that Russian Energy Minister Alexander Novak discussed Russian oil companies’ operations in Iraqi Kurdistan with the Iraqi prime minister or oil minister during his trip to Iraq. Novak had been quoted as saying that Baghdad had no problems with Russian companies doing business with the […]

Gazprom Neft commissions New Gas Plant at Badra

Russia’s Gazprom Neft has launched the commercial operation of a 1.6 billion cubic metres capacity gas processing plant at its Badra field, Iraq. Alexander Novak, Minister of Energy of the Russian Federation, was present at the opening ceremony for the new facility, together with the Minister of Oil of the Republic of Iraq, Jabbar al-Luaibi, and Gazprom Neft CEO Alexander Dyukov. Dry feed gas, […]

Lukoil to submit West Qurna-2 Plan by end-Dec

By John Lee. Russian oil company Lukoil has said it will present its plans t0 develop the West Qurna 2 oil field to the Ministry of Oil by the end of the month. Company boss Vagit Alekperov (pictured) told reporters that his company is negotiating regarding production volumes, timelines, and investment. (Source: TASS)

SOMO Awards Diesel Tenders

By John Lee. Sources have told Reuters that China’s state-run Zhenhua Oil will supply diesel (500 parts per million (ppm) sulphur) to Iraq’s State Oil Marketing Organization (SOMO) through a term contract for the first time. It will supply 600,000 tonnes of the 2.37 million tonnes sought by SOMO in a tender for delivery in […]

Russia begins Deliveries of T-90 Tanks

By John Lee. Russia has reportedly begun delivering T-90 tanks to the Iraqi military. According to Almasdar News, 73 of the tanks are scheduled to arrive to Umm Qasr Port this year. The T-90 is a third-generation Russian battle tank that entered service in 1993. (Source: Almasdar News)

Rosneft in the Kurdish Region: Moscow’s Balancing Act

By Ahmed Tabaqchali. Originally published by Iraq in Context; re-published by Iraq Business News with permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Between February 2017 and mid-October, Rosneft signed a number of deals with the Kurdish Regional Government (KRG) that established for it, […]

Baghdad seeks broader Economic Cooperation with Russia

Iraq’s foreign minister Ibrahim Jaafari (pictured) met his Russian counterpart in Moscow on October 23 where he said Baghdad seeks stronger economic ties and the development of a strategic partnership with Russia. “Relations are already at an excellent level in various areas: politics, economy, security. After turning the page of the fight against terrorism, our […]

Gazprom Neft not to Cut Production at Badra

By John Lee. Russia’s Gazprom Neft has said it expects production at the Badra oilfield to stay between 85,000 and 90,000 barrels per day (bpd) in 2018. Deputy chief executive Vadim Yakovlev (pictured) told Reuters that Baghdad has not asked the company to curtail production, despite reports that the Oil Ministry had asked foreign producers […]

Baghdad hits back at Rosneft/KRG Deal

By John Lee. Iraq’s Ministry of Oil has hit back at Rosneft‘s recent decision to enter a production-sharing deal with the Kurdistan Regional Government (KRG) without its approval. In a statement, the Ministry warned: “The ministry of oil warns seriously all the countries and oil companies from contracting or dealing with any authority inside Iraq […]

Rosneft to Build New Kurdistan Oil Pipeline

Russia’s Rosneft and Kurdistan Regional Government (KRG) have announced the start of joint implementation of an infrastructure project for the operation of the oil pipeline in the Kurdish Autonomous Region. According to a statement from Rosneft, its share in the project “may amount to 60%“. “The other project participant with 40% share will be KAR […]

Rosneft, KRG Agree on Oil Cooperation

Russian state-controlled oil company Rosneft and the Government of the Kurdish Autonomous Region of Iraq signed the documents required to put into force Production Sharing Agreements (PSA) with respect to five production blocks located in the Kurdish Autonomous Region. The share of Rosneft Group Subsidiaries in PSA will be 80%, the amount of payments for […]

How Turkey’s Nuclear Plant could curb KRG Ambitions

By Dr. Olgu Okumuş for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. On Sept. 28, when Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan jointly stated their support for the sovereignty and territorial integrity of Iraq, they also made a point of stressing their […]