The Iraqi oil minister said his office is planning to raise oil production volume to 6.5 million barrels per day (bpd) over the next four years. Abdul-Kareem Lueibi [Luaibi, Elaibi] told a press conference that the ministry expects to raise the volume to 2.75m bpd in 2011, 3.3m in 2012, 4.5m in 2013, and 6.5 […]
Iraq plans to sign power plant contracts valued at $6.25bn [7.3 trillion Iraqi dinars] next week with Caterpillar and other companies, according to Arabian Business. Caterpillar, Man SE of Germany and at least one South Korean company will build 50 new power stations, each capable of generating 100 megawatts, Electricity Minister Raad Shallal said on […]
Sterling Energy (AIM: SEY) has provided an update this morning for the Sterling-operated Sangaw North block in Kurdistan (53.33% working interest). Sangaw North #1 Well The side-tracked wellbore of Sangaw North #1 well has been drilled to a depth of 3,360 metres, into the top of the Jurassic formations and at a depth above where […]
Gulf Keystone has announced that the Bekhme-1 Exploration Well has spudded on the Akri-Bijeel block in the Kurdistan Region of Iraq on Monday, 21st March 2011. Bekhme-1 is the second exploration well to be drilled on the Akri-Bijeel block, 20 km to the north-east from the Bijell‑1 discovery well (Operator's P50 estimate of 2.4 billion barrels […]
At Iraq Business News, we realise how important it is for our readers to have access to the best possible information on Iraq and the industries that operate there. So to keep you informed, in addition to our website and weekly newsletter, we have put together a selection of the best Iraq-related business reports, some […]
Iraq’s Prime Minister, Nouri al-Maliki, has called on Iraqis not to depend on the country’s oil fortune only, reiterating the necessity to develop other sectors of the economy such as agriculture and tourism. “Iraq is the homeland of agriculture and tourism, and it is not right to keep on fully depending on its oil fortune,” […]
We've reported in the recent past on the difficulties faced by foreign businesses in getting visas to work in Iraq. This week Iraq Oil Report has found that the reason for the delays is a decision by the office of the Prime Minister, Nouri al-Maliki, that applications for visas don’t just go through the Interior […]
Iraq is looking for foreign investment in its agriculture sector to help the country become self-sufficient in grain production by 2014, according to a report from Bloomberg. “We are offering incentives for farmers to speed up the process and we welcome foreign investors,” Agriculture Minister Ezzeddin al-Dawla [Izzuldin al-Doula] told reporters in Baghdad. Iraq wants […]
By Stan Harbison, Vice President of Research and Analysis at energy consultants EPRINC. The initial steps in new Iraqi production have been well received by the Oil Ministry, but now the heavy lifting is underway. A bevy of oil service contracts is in place. The most important work is taking place in the three large […]
Iran’s power development firm, Sunir [Sanir] is negotiating with the Iraqi side to expand the capacity of a plant it is constructing in Baghdad from 160 megawatts to 640 megawatts. Sunir, the power construction arm of Iran’s energy ministry, is the largest foreign contributor in Iraq’s rickety power infrastructure, according the the report from Azzaman. […]
Shares in ShaMaran Petroleum, the Kurdistan-focused oil development and exploration vehicle, rose by 10% on Wednesday as it reported on its oil resources. Please click here to download the full document.
London Corporate Training, along with many other reputable organisations, has suffered for too long from the difficulty in obtaining UK entry visas for Iraqis. Not everyone can afford the time and money to fly to Jordan to apply for their visa – and then wait for up to three weeks to learn whether or not […]
