Tag Archives | Sonangol

Sonangol Pulls Out of Iraq

By John Lee. Angola’s Sonangol has decided to abandon its Qayara and Najmah oilfields in Nineveh province due to security problems. Reuters reports that Anabela Fonseca, Sonangol board member in charge of international investments, told a news conference: “Our presence in Iraq was as an operator in an area with much conflict. Last year we […]

ENI Stays in Last Minute Deal, Sonangol Exits

By John Lee. Tense negotiations between Baghdad and Italy’s ENI came to a close just hours before ENI was supposedly going to call time on their Iraq operations, Reuters reports. ENI CEO Paulo Scaroni made his dissatisfaction clear to reporters on Tuesday before the new deal was struck, stating, “If they do not sign the contracts […]

“No Time Limit” for Sonangol

An Oil Ministry spokesman has said that the ministry “will not put time limit for the Angolan oil company [Sonangol] in developing Najma and Qayara oilfield, due to the security obstacles facing it in these areas”. According to the report from Aswat Al Iraq, the company suffered terrorist attacks on its personnel and sites, so […]

Big Oil to spend $25bn in Iraq Next Year

By John Lee. Iraq’s deputy prime minister for energy, Hussain al-Shahristani (pictured), has said that ‘Big Oil’ is about to spend over $25 billion next year to boost oil output towards record levels. He predicted that the southern fields are expected to pump an extra 500,000 bpd in 2014, compared to just over 3 million […]

Black Skies over Qayara: Oil Fire Poisons Locals

By Abdullah Salem. This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. After extremists set off bombs on Iraq’s most dangerous oil field, the resulting fire burned for a month. The result: toxic smoke, two deaths, accusations, environmental […]

Iraq Plans to more than Double Northern Oil Output

Iraq aims to more than double oil production  in its northern region by the end of 2014, according to a report from AFP. Hamid Abdelrizak al-Saadi, general manager of the North Oil Company, said the planned increases for various fields would bring the total to about 1.3 million bpd, from a current level of about […]

Weekly Security Update for 13th January 2012

The year 2012 has not begun well for Iraq. Levels of violence rose in the country last week, with at least 107 people killed and 300 injured in nationwide incidents. Several of the latest bombings have targeted pilgrims gathering in the centre of the country to mark Arba’een. The holy religious period is currently at […]

Sonangol Equipment Blown Up in Nineveh

AKnews reports that uniformed militants have blown up about 10 machine tools used by Sonangol, Angola’s national oil company, in the province of Nineveh on Thursday. Sonangol won contracts to develop the al-Najma and al-Qayara oil fields near the provincial capital Mosul in 2009. The equipment was blown up by IEDs that were placed inside […]