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.

DNO announces Oil and Gas Discovery

DNO ASA, the Norwegian oil and gas operator, today announced issuance of a notice of discovery to the Kurdistan Regional Government of Iraq on the Baeshiqa-2 exploration well, in accordance with the requirements of the Production Sharing Contract, after flowing hydrocarbons to surface from the upper part of Triassic Kurra Chine B reservoir. Following acid […]

Refineries Blockaded as Protests Continue

By John Lee. Anti-government protesters reportedly blocked the entrance to the Nassiriya oil refinery on Wednesday. Sources told Reuters that protesters blocked tankers from entering the refinery, causing fuel shortages across Dhi Qar province. The refinery has capacity of 30,000 barrels per day (bpd), but has recently been producing only 15,000-20,000 bpd. Anadolu Agency also […]

Conference: Find Out What’s Happening in Iraqi Business

From Peace to prosperity: The Conference to find out what’s happening for Iraq business. The Iraq Britain Business Council (IBBC) Autumn Conference in Dubai on December 8th is set against a backdrop of relative peace and security in Iraq, and the prospect of oil revenues surging through the economy is driving a wider range of […]

Oil Exports Down in October

By John Lee. Iraq’s Ministry of Oil has announced preliminary oil exports for October of 106,859,470 barrels, giving an average for the month of 3.447 million barrels per day (bpd), down from the 3.576 million bpd exported in September. These exports from the oilfields in central and southern Iraq amounted to 103,540,855 barrels, while exports […]

ShaMaran Exceeds 20,000,000 Barrels at Atrush

ShaMaran Petroleum has reported that the Atrush oil field total production has exceeded 20,000,000 barrels. ShaMaran President and Chief Executive Officer Dr. Adel Chaouch said: “This cumulative production milestone demonstrates Atrush’s upward path to higher production and has been attained ahead of target.  We look forward to further future production achievements and operational improvements in […]

Genel Energy Production Rises; Shares Up

Shares in Genel Energy closed up nearly 7 percent on Friday after the company reported increased production in its operations update for the third quarter and first nine months of 2019. The information contained herein has not been audited and may be subject to further review. Bill Higgs (pictured), Chief Executive of Genel, said: “We […]

Unaoil Directors Plead Guilty in US

Two brothers have pleaded guilty in the US to facilitating the payment of millions of dollars in bribes to officials in nine countries, including Iraq. Cyrus Ahsani, 51, and Saman Ahsani, 46, both of United Kingdom (UK), ran the Monaco-based oil and gas consultancy Unaoil. They are due to be sentenced on 20th April, 2020. […]

DNO Shares Down 7.5%

By John Lee. Shares in DNO ASA, the Norwegian oil and gas operator, were trading down 7.5 percent on Thursday morning, after the company reported a net loss for the third quarter. The company reported what it described as strong third quarter revenues of USD 227 million, up 33 percent from a year earlier, on […]

Oil Ministry Finalises Export Figures for September

By John Lee. Iraq’s Ministry of Oil has announced oil exports for September of 107,276,327 barrels, giving an average for the month of 3.576 million barrels per day (bpd), down from the 3.603 million bpd exported in August. These exports from the oilfields in central and southern Iraq amounted to 103,010,306 barrels, while exports from […]

Cabinet Approves $25m Desalination Project

By John Lee. The Cabinet held its regular weekly meeting in Baghdad on Tuesday under the chairmanship of Prime Minister Adil Abd Al-Mahdi. It authorised the Ministries of Education, Higher Education and Scientific Research, other ministries, public bodies and local councils to recruit holders of post- graduate degrees, and to exempt this round of recruitment […]

Jiyad: EITI Restores Iraq’s Compliance Status

By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. EITI Restores Iraq’s Compliance Status, with Conditions Attached The board of the Extractive Industries Transparency Initiative (EITI) decided on 16 October 2019 to reinstated Iraq status as a “compliant” country in conformity […]

Parker Drilling Wins Contract at Qara Dagh

Genel Energy has announced the signing of a contract with Parker Drilling for the drilling of the QD-2 well on the Qara Dagh field (Genel 40% working interest, operator), in the Kurdistan Region of Iraq. The QD-2 well will test the structural crest 10 km to the north-west of the QD-1 well, which tested sweet, […]