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’s Zhongman wins $27m Iraqi Drilling Contract

By John Lee. China’s Zhongman Petroleum and Natural Gas Group Corp., Ltd. (ZPEC) has reportedly announced a new drilling contract with Weatherford in Southern Iraq. Chinese media reports that the deal is worth approximately $27 million, and follows another contract with Weatherford in Iraq agreed in December. The oil field was not identified. (Source: Eastmoney)

“Successful Year” for Genel Energy

By John Lee. Shares in Genel Energy closed Thursday up more than 4 percent after the company issued the following trading and operations update in advance of the Company’s full-year 2019 results, which are scheduled for release on 17 March 2020. The information contained herein has not been audited and may be subject to further […]

DNO Production Increases

DNO ASA, the Norwegian oil and gas operator, today announced a 29 percent year-on-year increase in its net Company Working Interest (CWI) production in 2019 to 104,800 barrels of oil equivalent per day (boepd) on the back of acquisitions and a record drilling campaign. In the Kurdistan region of Iraq, production from the two fields […]

New Head of Petroleum Contracts and Licensing Directorate (PCLD)

By John Lee. A former head of Iraq’s state-run Missan Oil Company (MOC) has reportedly been appointed to run the Ministry of Oil’s Petroleum Contracts and Licensing Directorate (PCLD). According to Reuters, Ali Maarij, who ran the MOC until becoming a member of parliament in 2014, will take over from Abul Mahdi al-Ameedi, who reached […]

New Well at Taq Taq is Close to Production

Genel Energy has announce an update on activity at the Taq Taq field (Genel 44% working interest), as testing of the TT-34 well is nearing completion. The well has produced from all zones tested, at a maximum combined flow rate of over 3,900 bopd with 28/64″ choke. With the inclusion of test production, gross production […]

Chevron pulls US staff from Kurdistan

By John Lee. Chevron has reportedly removed all of its American oil workers from Iraqi Kurdistan as a security precaution, following the killing of Iranian Quds Force leader Qasem Soleimani and Iraqi militia commander Abu Mahdi al-Muhandis. The company currently has interests in the Sarta and Qara Dagh blocks. (Sources: Reuters, CNN)

Oil Exports Slightly Down in December

By John Lee. Iraq’s Ministry of Oil has announced preliminary oil exports for November of 106,265,307 barrels, giving an average for the month of 3.428 million barrels per day (bpd), down from the 3.500 million bpd exported in November. These exports from the oilfields in central and southern Iraq amounted to 103,090,550 barrels, while exports […]

Production Resumes at Nassiriyah Oil Field

By John Lee. Iraq has resumed production at the Nassiriyah oil field on Monday, a day after protesters forced it to halt operations. Ministry spokesman Asim Jihad said that the roads had previously become impassable for workers to get to the field, but employees returned to work after authorities cleared away protesters. (Source: Ministry of […]

Iraq EITI issues latest Annual Report

By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq Extractive Industry Transparency Initiative Issues its latest Annual Report Iraq Extractive Industry Transparency Initiative (IEITI) issued a few days ago its latest annual report, it is about 2017 and it is […]

Oil Ministry Finalises Export Figures for November

By John Lee. Iraq’s Ministry of Oil has announced final oil exports for November of 105,014,747 barrels, giving an average for the month of 3.500 million barrels per day (bpd), up from the 3.447 million bpd exported in October. These exports from the oilfields in central and southern Iraq amounted to 102,005,095 barrels, while exports […]

Cabinet to Support Projects in Health, Oil sectors

The Iraqi Cabinet held its regular weekly meeting in Baghdad on Tuesday under the chairmanship of Prime Minister Adil Abd Al-Mahdi. The Prime Minister told the Cabinet that the current government will continue to discharge its  duties until the formation of the next Iraqi government. The Prime Minister then outlined some of the key achievements of […]