Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for September of 98,765,153 barrels, giving an average for the month of 3.292 million barrels per day (bpd), slightly up from the 3.286 million bpd exported in August. The exports from the oilfields in central and southern Iraq amounted to approximately 96,445,421 barrels, […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for August of 101,859,528 barrels, giving an average for the month of 3.286 million barrels per day (bpd), down from the 3.303 million bpd exported in July. The exports from the oilfields in central and southern Iraq amounted to approximately 100,750,000 barrels, while […]
AD Ports Group's (ADPORTS) SAFEEN Group and Amaan Baghdad Company have signed an agreement to support a new project relating to fuel oil transport and storage from Khor Al Zubair and Umm Qasr oil terminals in Iraq. The project represents a significant extension of SAFEEN Group's portfolio of dedicated products and services into the oil […]
Genel Energy has announced the appointment of Paul Weir as Chief Executive Officer, and as a member of the Board of Directors, with immediate effect. Paul, who was previously Chief Operating Officer before being made Interim Chief Executive Officer in June this year, joined Genel in January 2020. Paul had worked for more than 30 […]
Advertising Feature Night Bird Construction (NBC) is a fast paced and highly organized Iraqi construction company created through the excellence of its team. NBC's Senior Construction Managers, Engineers and team of highly skilled industry professionals have achieved great success in construction projects across the globe; especially in IRAQ! Some Examples of Prime Construction Projects Completed […]
By John Lee. The Minister of Oil has announced the commencement of crude oil supplies to Karbala refinery for the start of its trial operation. Ihsan Abdul-Jabbar Ismail said that the refinery has a capacity of 140,000 barrels per day (bpd) and will help partially in meeting local needs and reducing imports of refined fuel. […]
By John Lee. Petrel Resources has said that Iraq's Ministry of Oil should negotiate Production Sharing Agreements to replace the existing service contracts, as, "this would better align the interests of the parties, and create more wealth, value-added in downstream industries like refined products and petrochemicals, infrastructure and employment for Iraq." In its unaudited interim […]
By John Lee. The Undersecretary for Liquidation and Distribution Affairs at Iraq's Ministry of Oil, Hamid Younis, has said that the shift towards the use of liquified gas for vehicles is a strategic project for Iraq, which promotes sustainable development and supports the national economy, and is supported by the government and the Ministry. He […]
By John Lee. Iraq's State Oil Marketing Organization (SOMO) has announced that it had taken "marketing measures" and informed all international companies not to buy crude oil from the Kurdistan Region of Iraq (KRI). SOMO Director, Alaa Al-Yasiri, also told the state-run Iraqi News Agency (INA): "The Federal Court issued a decision stipulating the invalidity […]
By John Lee. Iraq's Federal Supreme Court has invalidated the Cabinet decision to set up the Iraqi National Oil Company (INOC). According to a statement from the Court, Paragraphs 2 and 3 of Cabinet Decision No. 109 of 2020, and Decision No. 211 of 2021, are in breach of the constitution. The full judgement, in […]
By John Lee. Iraq has re-started the export of crude oil by road to Jordan. Jordanian Minister of Energy and Mineral Resources, Dr. Saleh Al-Kharabsheh (pictured), announced on Monday that loading had commenced at Kirkuk, instead of the previous site at Baiji. The memorandum of understanding (MoU), which was signed on 28th January 2021, has […]
By John Lee. Iraq's Minister of Oil, Ihsan Abdul Jabbar Ismail, has stressed the importance of developing the Eridu (Arido) oilfield in Block 10, which is in the Muthanna and Dhi Qar provinces. This came during a meeting with Lukoil's Vice President for Central Asia, Middle East, and North African affairs, Stepan Gorgi, and his […]
