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 engaged the Texas-based law firm Vinson and Elkins as a legal advisor in the US. Partner James Lloyd Loftis will meet with representatives of the Department of State, at their request, regarding a pending arbitration proceeding between Iraq and the Republic of Turkey. The Ministry will pay […]
By John Lee. Prime Minister Mustafa Al-Kadhimi has laid the foundation stone for a new power station in the Al-Furat district of Anbar Governorate. According to a statement from the Media Office of the Prime Minister, the total capacity of the plant is 1,642 megawatts, at a cost of one billion dollars, and the project […]
By John Lee. The Minister of Industry and Minerals, Manhal Aziz Al-Khabbaz, has re-opened a factory making low density polyethylene in Basra. The plant, run by the General Company for Petrochemical Industries, had been idle for more than 12 years. Capacity is said to be 120 tons per day, with high quality and high purity. […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for June of 101,191,236 barrels, giving an average for the month of 3.373 million barrels per day (bpd), up from the 3.300 million bpd exported in May. The exports from the oilfields in central and southern Iraq amounted to approximately 97,980,589 barrels, while […]
By John Lee. The Khor Mor field in Kurdistan has again been subjected to rocket attacks. In a statement to the Abu Dhabi Securities Exchange, operator Dana Gas said: "Dana Gas (PJSC) informs the market that two small rockets landed within the Khor Mor Block in the Kurdistan Region of Iraq on the evening of […]
By John Lee. Baker Hughes has said its oilfield services (OFS) division has secured a four-year contract to provide artificial lift solutions for the Missan [Maysan] oilield in Iraq. In a statement announcing its results for the second quarter of 2022, the US-based company said the contract includes the supply of electrical submersible pumps (ESP), […]
By John Lee. The Iraqi Drilling Company (IDC) has recently completed the drilling of oil well 48 at the Nasiriyah oil field. The company's general manager, Engineer Basem Abdel Karim Nasser, said this was part of the contract with Dhi Qar Oil Company (DQOC) to drill 20 oil wells at the field in cooperation with […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Deep Data: GCC Electricity and Iraq's Reliance on Iran In connection with the recent Arab summit in Jeddah, Iraq and Saudi Arabia are forging ahead with efforts to connect their electricity grids. The […]
By John Lee. Fitch Ratings has said that Iraq's government debt is set to fall steeply as a share of GDP in 2022, bringing it to pre-Covid-19 pandemic levels. It adds that while this is positive for the sovereign's creditworthiness, the decline may not be sustainable, as it partly reflects political tensions that have constrained […]
By John Lee. The Governor of Anbar, Ali Farhan (pictured), has reportedly announced new oil discoveries in the province. According to the state-controlled Iraqi News Agency (INA), the finds are in the Nukhaib and Tharthar areas. Farhan is quoted as saying that, "the local government in Anbar worked to prepare the atmosphere for oil exploration […]
By Douglas A. Ollivant for War on the Rocks. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Barzani Goes to Baghdad: Trouble in the Kurdish Oil and Gas Sector A recent Federal Supreme Court decision in Iraq has put a legal stake in the […]
By Robert Tollast for The National. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. A power grid for the Middle East: what is the GCCIA and can it benefit Iraq? Since 2012, all GCC members have been connected by cross-border power lines - […]
