By John Lee. Iraq's Ministry of Oil has signed a Memorandum of Understanding with French oil company Total. According to a statement from the Ministry, both sides have "achieved advanced cooperation steps towards implementing large projects in the oil and energy sector." The document was signed in Baghdad by Oil Minister Ihsan Abdul-Jabbar Ismail and […]
By John Lee. France's Total is reported to be in talks to sell its 18-percent stake in the Sarsang block in Iraqi Kurdistan, in a move aimed at reducing the company's debt. Bloomberg says the company is working with Jefferies Financial Group on the deal, adding that the holding could be worth as much as […]
Prime Minister Mustafa Al-Kadhimi on Sunday chaired a meeting of the Higher Committee for Health and National Safety. At the start of the meeting, the Prime Minister thanked Iraqi health workers and paid tribute to their efforts during the coronavirus pandemic, and for treating and looking after those affected by Covid-19. In his remarks, the […]
By Al-Monitor staff. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq's coronavirus cases top 100,000 as Baghdad airport reopens Iraq is instituting a "total curfew" for the upcoming Eid al-Adha holiday. The curfew will be in place from July 30 until Aug. 9, according […]
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 […]
By John Lee. France's Total is said to be interested in bidding to build the greenfield 150,000-bpd Nassirya oil refinery. The Director General of the Dhi Qar Oil Company (DQOC), Ali Warid Hammood, told Reuters at the CWC Iraq Petroleum Conference in Berlin that bids are still open for the project, and that international oil […]
By John Lee. Iraqi Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] (pictured) has reportedly said that Chevron and Total have expressed interest in developing the Majnoon oilfield. Oil giant Shell is trying to sell its stake in the field following a failure to reach agreement with Iraq’s Ministry of Oil. Reuters quotes the Minister as […]
Prime Minister Haider al-Abadi has said that the cost of damage to Iraqi infrastructure attributable to the Islamic State group (IS, ISIS, ISIL, Daesh) has reached $35 billion. Abadi said “IS destroyed relations among social categories in Iraq, not to mention the huge humanitarian cost represented the high numbers of deaths, injuries and displaced people”. […]
Iran’s assistance for Iraq is rooted in age-old good neighborly relations, Head of the Strategic Research Center of Iran’s Expediency Council Ali Akbar Velayati said, expressing Tehran’s strong opposition to any plans for splitting up the Arab country. Iran’s positive response to the Iraqi government’s request for help in the fight against terrorism is justified […]
The United States is providing more than $181 million in additional humanitarian assistance for the Iraqi people to address critical humanitarian needs, including those expected to occur with Iraq’s planned military offensive to liberate Mosul from Da’esh occupation. U.S. Deputy Secretary of State Antony J. Blinken (pictured) announced this new funding today, bringing U.S. humanitarian […]
By John Lee. Iran has reportedly signed an agreement with France's Total to develop the South Azadegan oil field, which is shares with Iraq. Iranian Oil Minister Bijan Zangeneh (pictured) is quoted as saying that both parties have agreed to keep the details of agreement confidential, adding that the French firm is now "studying its […]
By John Lee. French oil company Total and Swiss oil-trading company Vitol have been fined for corruption by a French court in relation to Iraq’s oil-for-food program. According to Bloomberg, Total was guilty of corrupting foreign civil servants, and has been fined EUR 750,000, while Vitol has been fined EUR 300,000. Other corruption charges against Total […]
