By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has announced an agreement with an American company to invest in the flare gas associated with the Nahr Bin Umar oil field in Basra governorate. The Ministry names the company as "Oren", but Iraq Oil Report identifies it as the Houston-based Orion Gas Processors. A […]
By John Lee. Sonatrach, the state-owned Algerian energy company, is to form a joint venture with Iraq to cooperate in the harvesting of associated flare gas. The will be used for power generation, and in the production of petrochemicals and fertilizers. The deal was agreed during a visit by Algerian Energy Minister Mustapha Guitouni to Baghdad. (Source: […]
By John Lee. Iraq's Petroleum Contracts and Licensing Directorate (PCLD) has announced the five additional companies have been approved to bid for Iraq's "borderline onshore & offshore exploration blocks & fields." The companies are listed as: Dana Gas (UAE) Dragon Oil (UAE) Geo-Jade Petroleum (China) Schlumberger (USA) Zarubezhneft (Russia) Eight companies had applied for approval. […]
By John Lee. Malaysia's Petronas has reportedly confirmed that it will exit from Iraq's Majnoon oil field along with joint stakeholder Shell. A spokeswoman for Petronas told The National: "Petronas confirms its exit from the Majnoon oilfield, Iraq, together with Shell. We will be working with Shell on the handover of the field to the […]
Swiss-based Mövenpick has signed a deal to manage a five-star, 152-key hotel in Basra, Iraq"s economic capital and a regional oil and gas hub. The Mövenpick Hotel Basra is scheduled to open in the first quarter of 2018. Located in the center of Basra, within the commercial district of Al Baradi'yah and 25km west of […]
By John Lee. The Iraqi parliament has reportedly banned Erbil-based Kar Group from operating oil fields in Kirkuk. According to Rudaw, it assigned the state-owned North Oil Company (NOC) to take over oil production in the province and export it through Iraq's State Oil Marketing Organisation (SOMO). Reuters reports that Kar Group had been operating some […]
EU strategy on Iraq: new proposal to strengthen support to the Iraqi people On Monday, the High Representative of the Union for Foreign Affairs and Security Policy and the European Commission adopted a Joint Communication proposing an EU strategy for Iraq in order to address the many challenges the country faces following the territorial defeat […]
By Salam Zidane for Al Monitor. Any views expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq has much to gain from gas-supply pact with Kuwait Kuwait will begin importing natural gas from neighboring Iraq this year, a development welcomed in Baghdad as it could improve Iraq's […]
Coalition and partnered forces are building upon progress in Iraq and Syria to defeat the Islamic State of Iraq and Syria, the director of press operations at the Pentagon told reporters here today. Recent developments include Iraqi forces securing more than 20 improvised explosive devices and bombmaking materials in Baghdad, Army Col. Rob Manning said. […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Satarem-Missan Refinery Scandalous Contract Gets Final Termination Notice The Iraqi Ministry of Oil (MoO) announced on 4th January 2018 that it had obliged Missan International Refinery Company (MIRC) (actually the bankrupt Swiss […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 4th Jan 2018). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD802 (-1.1%) / $826 (-1.1%) (weekly change). The number of week traded shares was 1.4bn and the weekly […]
By John Lee. The State Company for Glass & Refractories Industry (SCG&R), part of the Ministry of Industry and Minerals, has announced an opportunity to invest in a pharmaceutical bottles plant. More details here. (Source: National Investment Commission)
