Leigh Himsworth, Head of UK equities at Gartmore, has tipped Heritage Oil (LSE: HOIL) in UK's Investment Week. Heritage, which operates in Kurdistan and Africa, is singled out because: it has a good record of success; it is well funded in comparison to its peers; and it offers differentiation and diversification from core oil holdings […]
Various websites are quoting the Governor of Iraq's Central Bank, Mohammed Salih, as saying the he wants to delete three zeros from the Iraqi currency after the formation of the new Iraqi government. In a reported interview with “Alsumaria News”, he said the amount of Iraqi dinars in circulation has increased from 25 billion in […]
China's CNPC and its partners have invited bids from energy companies to supply a liquefied petroleum gas (LPG) compressor unit for the 4.1 billion-barrel Halfaya oilfield, according to a report from Reuters. This is in addition to the tenders we reported on last week. State-run Maysan [Missan] Oil Company has invited bidders to supply and […]
Iraq's crude oil exports fell in August to 1.789 million barrels per day, a source at the Iraqi Oil Ministry said on Tuesay, according to Reuters. Average exports from the southern oil hub of Basra reached 1.45 million bpd, while exports from oilfields in the north around Kirkuk averaged 339,000 bpd. A combination of attacks […]
By Dr Michael Knights, Vice President and lead Iraq analyst at Olive Group. The holy month of Ramadan – which ended on 11 September – is meant to be a time of peace, but in Iraq it has more often been a testing time for the Iraqi Security Forces (ISF) and the United States. Insurgents […]
We reported yesterday on Vast Exporation's Qara Dagh operations in Kurdistan. Groundstar Resources (TSXV: GSA), Vast's partner in the project, have now given their take on the situation: Qara Dagh-1 well is drilling 12 1/4 inch hole at about 2,200 meters. The well was spud on 12 May 2010 with a planned total depth of […]
Iraq will supply crude to two Asian term buyers at between 5 percent and 10 percent below contracted volumes for October, compared with near full volumes for September, traders said. (Source: Tehran Times)
A source in the Iraqi Ministry of Reconstruction and Housing said on Wednesday that the country’s “housing crisis” will be resolved by 2020 according to a plan devised by the government. Istabraq al-Shok [Istabraq Al-Shouk], the Deputy Minister of Construction and Housing, told AKnews the government will build “two million housing units of international quality.” […]
We reported last month that Iraqi Minister of Labor and Social Affairs, Mahmoud al-Sheikh Radhi, had rejected the idea that Iraq should join the World Trade Organization (WTO); now a source in the outgoing Iraqi government said on Monday that Iraq is in negotiations to become a member. An Iraqi task force was established in […]
German airline Lufthansa has postponed its scheduled Sept. 30 startup of a Munich-to-Baghdad route, citing a lack of customer interest, according to a report from Businessweek. Company spokesman Christoph Meier said that bookings "were far below the expectations", and that no new date had been set for the launch of the service. The news is […]
Gulf Keystone (LSE: GKP), the independent oil and gas exploration company focused on exploration in the Kurdistan region of Northern Iraq, has announced its interim results for the six months to the end of June: Interim Results for the six months ended 30 June 2010 HIGHLIGHTS Financial Summary · Loss after tax $3.1 million (1H09: […]
A former Iraqi oil minister says the country needs a “radical revision” of its current oil policy in order to adapt to the new changes in the world. Speaking to AKnews, Ibrahim Bahr al-Ulum said, “Despite efforts by the oil ministry to raise the level of oil production, Iraq still lags behind other oil-producing nations.” […]
