Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. The Iraqi Drilling Company (IDC) has started work on the first of its 20 oil wells at the Nasiriyah oil field in Dhi Qar. IDC's Director General, Basem Abdul Karim, said that the project is part of a contract with the Dhi Qar Oil Company (DQOC) in cooperation with Weatherford. The planned […]
ShaMaran Petroleum has released its financial and operating results and related management's discussion and analysis (MD&A) for the three months and year ended December 31, 2021. Dr. Adel Chaouch, President and Chief Executive Officer of ShaMaran, commented: "2021 has been a transformational year for ShaMaran. The Company generated the highest annual oil sales revenues in […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for March of 100,579,612 barrels, giving an average for the month of 3.244 million barrels per day (bpd), down slightly from the 3.314 million bpd exported in February. The exports from the oilfields in central and southern Iraq amounted to approximately 99,130,677 barrels, […]
By Mina Al-Oraibi, for Foreign Policy. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's Oil Dysfunction The world's sixth-largest oil producer still suffers from fuel shortages and power outages. Click here to read the full story.
Iraq's economy is gradually recovering from the twin shocks of the pandemic and collapse in oil prices in 2020. Both oil and non-oil growth are on track to reach their pre-pandemic levels as oil production increases and the easing of COVID-19 restrictions restores domestic economic activity. Fiscal and external deficits are back to surpluses as […]
By John Lee Iraqi Prime Minister Mustafa al-Kadhimi has ordered that a working team from the Ministry of Electricity travel to Iran to solve problems related to the supplying of gas. At a meeting with the Electricity Ministry and senior officials on Sunday, there was discussion about the high electricity demand in summer, and how […]
By John Lee. Iraq's oil ministry has said that future of the long-delayed oil export pipeline from Iraq to the Jordanian port of Aqaba will be decided by the next government. The country has still not formed a new government following parliamentary elections in October. At a press conference at the weekend, the Ministry of […]
By John Lee. DNO has issued an update on production and sales volumes for the quarter as well as other key financial information. Volumes (boepd): Gross operated production Q1 2022 Q4 2021 Q1 2021 Kurdistan 106,465 107,472 111,985 North Sea - - - Net entitlement production Q1 2022 Q4 2021 Q1 2021 […]
By John Lee. The KRG's Council of Ministers held its weekly meeting on Wednesday, led by Prime Minister Masrour Barzani. Referring to the recent round of discussions to resolve the dispute over oil sales between Erbil and Baghdad, the Council stressed the importance of continuing to defend the Kurdistan Region's constitutional rights within Iraq. It […]
By John Lee. Genel Energy has announced that Nazli K. Williams has tendered her resignation as a Non-Executive Director of the company with effect from 13 April 2022. David McManus, Chairman of Genel, said: "Nazli has been a Director of Genel since the merger with Vallares in 2011. She has provided both valuable contributions and […]
By John Lee. Demonstrators have reportedly caused disruption at oil facilities in Dhi Qar on Wednesday. According to Anadolu Agency, dozens of university graduates gathered at the Al-Gharraf oilfield to demand employment. A local resident is quoted as saying that applications for jobs at the field had received no reply. (Source: Anadolu Agency)
By John Lee. The Iraqi federal government in Baghdad and the Kurdistan Regional Government (KRG) have concluded a first round of talks to discuss the management of the Kurdistan region's oil and gas resources. The meeting follows the ruling by a federal court in February that exports of oil and gas from the Kurdistan region […]
