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.

China Buys "nearly Half" of Iraq's oil

By John Lee. An advisor to Iraqi Prime Minister Mustafa al-Kadhimi has said that nearly half of the country's oil exports go to China, making China the number one market for Iraqi oil. Speaking on Thursday, Mazhar Muhammad Salih said that China accounts for about 40-44 percent of Iraqi oil exports, equating to about 800,000 […]

Dana Gas Expansion Plans "Well Underway" in Kurdistan

By John Lee. Dana Gas PJSC announced that its H1 2021 collections from the Kurdistan Region of Iraq (KRI), and Egypt have increased 106% year-on-year to $185 million (AED 678m), the highest level in more than five years. Dana Gas, which owns a 35% stake in Pearl Petroleum, saw its share of collections from sales […]

ShaMaran Increases Stake in Sarsang Contract

By John Lee. ShaMaran Petroleum has announced that it has signed an agreement with a subsidiary of French major TotalEnergies S.E. to acquire its affiliate (TEPKRI Sarsang A/S) holding an 18% non-operated participating interest in the Sarsang Production Sharing Contract in the Kurdistan Region of Iraq for an initial consideration of USD 155 million plus […]

DNO appoints Spencer as New COO

By John Lee. DNO ASA, the Norwegian oil and gas operator, has announced the appointment of Chris Spencer (pictured) as its Chief Operating Officer, effective immediately. Spencer joined the Company in 2017 and his most recent position was Deputy Managing Director. (Source: DNO)

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Will Baghdad, Erbil fulfil Budget Obligations?

From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. With deal in hand, will Baghdad, Erbil fulfil budget obligations? To what extent will the Kurdistan region of Iraq (KRI) be seriously committed to the provisions of the federal budget now that it […]

Iraqi Cabinet allocates $34m for Emergency Electricity Work

By John Lee. Prime Minister Mustafa Al-Kadhimi chaired the regular session of the Iraqi cabinet on Tuesday. Addressing the ongoing crisis in electricity supply, the cabinet agreed to allocate 50 billion Iraqi dinars ($34 million) for emergency expenses and maintenance of the electricity infrastructure. This will be achieved by profitable Ministry of Oil companies lending […]

China to Snap Up Iraqi Oil Assets?

By John Lee. Both BP and Lukoil are reported to be considering quitting upstream oil operations in Iraq. Reuters quotes Iraq's Oil Minister, Ihssan Abdul-Jabbar Ismail, as making the comments during a parliamentary session last week. Last month, BP was said to be planning to spin off its Iraqi operations in Iraq into a separate […]