Archive | Iraq Oil & Gas News

Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.

Iraq Finalises Oil Exports for Oct

By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for October of 89,153,932 barrels, giving an average for the month of 2.876 million barrels per day (bpd), up from the 2.613 million bpd exported in September. These exports from the oilfields in central and southern Iraq amounted to approximately 86,023,204 barrels, while […]

Successful IBBC Conference in Dubai

IBBC's 5th Annual Iraq Conference in Dubai - Opportunity in Adversity The Iraq Britain Business Council (IBBC) was much praised at its conference on Thursday for pioneering in COVID-19 times by bringing together senior officials from Iraq, the UAE and the UK, prominent international and Iraqi businessmen, bankers and professional advisers as speakers and over […]

GKP Shares Rise as Workover Completed

By John Lee. Shares in Gulf Keystone Petroleum (GKP) were trading up 5 percent on Monday morning as the company announced that the planned workover on the SH-12 well has been completed safely. Jón Ferrier (pictured), Gulf Keystone's Chief Executive Officer, said: "We continue to successfully manage the challenging macro backdrop and make operational progress. […]

China to Buy of Exxon's stake in West Qurna?

By John Lee. The China National Petroleum Corporation (CNPC) and China National Offshore Oil Corporation (CNOOC) are reportedly considering acquiring Exxon Mobil's remaining stake in Iraq's West Qurna 1 oilfield. According to sources cited by Bloomberg, the stake could fetch more than $500 million. ExxonMobil originally had a 60% stake in the field, but sold […]

Fmr Australian Exec Arrested over Alleged Iraq Bribery

By John Lee. The Australian Federal Police (AFP) has made one arrest, and issued a further two arrest warrants, following an investigation into alleged improper payments made by Singapore-registered Leighton Offshore Pty Ltd, regarding two contracts with Iraq Crude Oil Export in 2010 and 2011. The Sydney Morning Herald names the arrested suspect as Russell […]

Mansuriya Gas Contract "Cancelled"; Russia "Extremely Interested"

By John Lee. Iraq has reportedly cancelled a contract to develop its Mansuriya gas field near the Iranian border. Iraq Business News understands that, under a deal agreed in 2010, the field was being developed by Turkish Petroleum (TPAO) (37.5%), Iraqi Oil Exploration Company (25%), Kuwait Energy (KEC) (22.5%), and Kogas (15%). According to Reuters, […]

Amarinth delivers $650k Pumps to Garraf Oilfield

UK-based pump company Amarinth has delivered four API 610 VS4 vertical pumps with Plan 53B seal support systems for the Oil Train 5 Project at Garraf oilfield. Located at the northwest of Al-Refaei, approximately 85 kilometers north of the City of Nasiriya, half way between the Tigris and Euphrates rivers in the southeast of Iraq, […]

KRG DPM Talabani to Speak at Virtual Kurdistan Iraq Economic Forum

Kurdistan's Deputy Prime Minister HE Qubad Talabani to Speak at the Virtual Kurdistan Iraq Economic Forum Inaugural Conference set to navigate the economic future Kurdistan and Iraq Conference will include online sessions available live and on demand for all attendees Delegates will gain insights into the latest policy and project announcements, crucial for successful investment […]

Why you should come to IBBC Conference: Opportunity in Adversity

Why you should come to the IBBC Conference in Dubai, entitled 'Opportunity in Adversity' On 19th November the Iraq Britain Business Council (IBBC) is holding its Autumn conference in person at the Address hotel Dubai Marina. Some would say it's a brave decision, considering COVID, but others are keen to take up the challenge and […]

Iraq "to launch new Basra Medium Crude"

By John Lee. Iraq's State Oil Marketing Organization (SOMO) has reportedly notified clients that it plans to launch a third crude oil export grade in January. Sources told Reuters that the 'Basra Medium' grade will be created by splitting the existing Basra Light production into two grades. Click here to read the full article. (Source: […]