Shares in Norwegian oil firm DNO International were up as much as 15% in intraday trading on Wednesday, following the company's announcement that it has stuck oil at its Tawke oilfield in Iraqi Kurdistan. Genel Energy, with which it shares the field, was up nearly 5% at one stage before falling back. The full text […]
The Iraqi company 'al-Saqr al-Jareh' has won a $245 million contract to build 1,857 housing units in the northern outskirts of Basra city. Khalaf al-Badran, president of the Basra Investment Commission, said that the project is to be completed within five years. Basra province needs 200,000 additional residential units. (Sources: Basra Investment Commission, Bloomberg)
Oil exports from Iraq's southern ports have jumped by 150,000 bpd this month, according to shipping data tracked by Reuters. Exports from the al-Basra Oil Terminal (ABOT), Khor al-Amaya, and the new single-point mooring on the Gulf have averaged 1.81 million bpd in the first 19 days of March, up from about 1.66 million bpd […]
Local authorities in Wassit have commissioned a Polish company to implement a project to rehabilitate and develop residential areas in the city of Kut, according to Aswat al-Iraq. “The project, which will cost ID30.578 billion [$25.5 million] as part of the provincial development budget (PDB) for 2012, will include the rejuvenation of residential districts, extension […]
Iraq Deputy Prime Minister for Energy, H.E Dr Hussein Al-Shahrestani, will announce large-scale investment opportunities in Iraq’s refining industry at the Iraq Refinery 2012 conference (www.iraqrefinery.com) on 17 -18 April 2012 in London. Major incentives for foreign investment already include discounted oil and acreage. The conference will represent the largest ever gathering of Iraqi oil […]
As security measures are heightened ahead of the Arab League Summit in Baghdad levels of violence fell in Iraq last week with 26 people killed and 22 injured in nationwide incidents. This was a drop by half from the previous week and a very low figure in general for the country. However, a spate of […]
The head of the state-run Missan Oil Company, Ali Maarij, has said that the China Petroleum Engineering & Construction Corporation (CPECC), the engineering and construction subsidiary of the China National Petroleum Company (CNPC), has drilled 13 new wells at the Halfaya oil field, and plans to drill 17 more by the end of the year, […]
Iraq has offered "substantial quantities" of crude oil to Sri Lanka, as the island looks for alternatives to Iranian crude, according to AFP. Iran supplies nearly 92 percent of Sri Lanka's imported crude, but will stop crude oil imports from Iran from 29th March, ahead of the US deadline of 28th June. (Source: AFP)
A study by the recruitment consultants Curzon Partnership showed that executives working in Libya or Iraq can expect a total salary of around $354,900. This compares to a total salary to $454,400 a year in Nigeria, representing a 45 percent premium over salary levels in Britain for working abroad. Oil industry executives in Indonesia can […]
Following the successful bilateral discussions between the governments of Kuwait and Iraq, Jazeera Airways announced that it has secured rights to operate the Kuwait-Al Najaf route and intends to launch the route within the next six months. Jazeera Airways, which currently operates 18 non-stop routes in the Middle East from Kuwait, will be the first […]
Bloomberg reports that Lukoil, Russia’s biggest non- state oil producer, will sign an agreement with Samsung this week for the development of the West Qurna-2 oilfield. Samsung will install “a crude-gathering facility and a central processing plant for West Qurna-2,” the Iraqi Oil Ministry said on Tuesday. The deal is expected to be signed on 22nd […]
Technical glitches have halted exports from Iraq's new offshore oil export terminal for the past week after it loaded just a single tanker, two sources at the state-owned South Oil Company said on Tuesday, according to Reuters. The first of four single-point mooring (SPM) terminals, which are being built by Australia's Leighton Holdings, opened on […]
