By John Lee. The National Investment Commission (NIC) has published details of a new round of solar energy projects: The Ministry of Electricity is please to invite local, regional and international Independent Power Producers (IPP) to submit Expressions of interest (EOI) to embark into a proposed reverse auctioning round for SEVEN (7) Green field solar […]
By John Lee. At its regular meeting in Baghdad on Tuesday, the Iraqi Cabinet received a briefing on negotiations led by Iraq’s Ministry of Oil with ExxonMobil and PetroChina on the Southern Iraq Integrated Project. In a statement, the government describes the project as "a mega energy and infrastructure scheme consisting of building oil pipelines, […]
By John Lee. President Barham Salih has highlighted the need to address the obstacles impeding the work of the private sector in Iraq. Addressing a delegation from the Iraqi Federation of Chambers of Commerce at his Office in Baghdad, the President stressed the importance of enhancing the role of the private sector in reconstruction. Mr. […]
DNO, as operator of the Tawke field in Iraqi Kurdistan, has today issued an update on licence activity. Gross production from the Tawke licence, containing the Tawke and Peshkabir fields, averaged 126,759 bopd during the first quarter of 2019. Tawke production currently averages c.73,000 bopd, and Peshkabir c.54,000 bopd. There is an active 2019 drilling […]
DNO ASA, the Norwegian oil and gas operator, today reported USD 35 million in first quarter 2019 operating revenues from its newly acquired North Sea assets, bringing the total quarterly figure across the portfolio to USD 204 million. The Company generated a net profit of USD 51 million and exited the quarter with a cash […]
The Iraq Britain Business Council (IBBC) held Iraq’s first International Tech Conference in Baghdad at the Babylon Rotana Baghdad Hotel on 30 April, hosting government ministers, private industry, entrepreneurs, investors, and representatives from the leading UK and Iraq Tech companies. The purpose of the Conference was to drive confidence, investment and awareness of the power […]
By John Lee. US Secretary of State Mike Pompeo made an unannounced visit to Iraq on Tuesday, meeting with Prime Minister Adil Abdul-Mahdi and senior officials. The visit comes as Washington enforces sanctions on Iran over its nuclear program. A transcript of Secretary Pompeo's press conference after the meeting can be read here. (Source: US […]
IMF Staff Completes 2019 Article IV Mission on Iraq An International Monetary Fund (IMF) team led by Gavin Gray visited Amman from April 26 to May 2, to hold discussions with the Iraqi authorities in the context of the 2019 Article IV Consultation. At the end of the visit, Mr. Gray made the following statement: […]
By John Lee. Pearl Petroleum is reportedly planning to raise additional funding for its drilling and development in Iraqi Kurdistan, According to Reuters, Patrick Allman-Ward, the chief executive of Dana Gas, which is the majority owner of Pearl Petroleum, told reporters that the funding will "comprise a mix of bank debt, a bond, Exim bank […]
2.5 Million Iraqis and Businesses to Benefit from Improved Electricity Services A new US$200 million World Bank project will provide increased and more reliable supply of electricity to about 2.5 million Iraqis and productive enterprises in the governorates of Basra, Al-Muthanna, Thi Qar, and Missan who currently suffer from frequent and long power cuts and […]
The National Iranian Oil Company (NIOC) will set up a representative office in Iraq to facilitate activities by Iranian producers and constructors in the neighboring state. The issue was discussed in a meeting between Iranian oil industry equipment producers and senior managers of the Iraqi Ministry of Oil on the sidelines of the 24th Iran […]
The Iranian defense minister called for the enhancement of military and defense cooperation with Iraq, saying collaboration between the two neighbors would serve regional security and stability. In a meeting with a delegation of Iraqi military commanders, Brigadier General Amir Hatami said the common threats and opportunities necessitate closer consultations between Tehran and Baghdad for […]
