Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Schlumberger has reportedly announced its withdrawal from Iraqi Kurdistan, as a result of the Federal Supreme Court ruling that oil contracts signed with the Kurdistan Regional Government (KRG) are unconstitutional. Sources told the official Iraqi News Agency that the US-based oilfield services company "sent a letter with an official document to the […]
By John Lee. Petrel Resources has said its Iraqi business is being "re-galvanised" (sic), with data bases being updated, and updated proposals submitted to the incoming administration. In its audited results for the year ended 31st December 2021, the company said it is strengthening its Iraqi team, and has invested heavily in the training and […]
By Michael Knights, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Necessary U.S. Role in Fixing the Baghdad-Kurdistan Energy Dispute On February 15, 2022, Iraq's Federal Supreme Court ruled that the 2007 oil and gas […]
By John Lee. Dana Gas has said that following the incident on the 22nd of June, two further small rockets landed within the Khor Mor Block in the Kurdistan Region of Iraq on Friday and Saturday, respectively. It says there were no injuries or damage. In a statement to the Abu Dhabi Stock Exchange, the […]
From the Kurdistan Regional Government: Like citizens across the Kurdistan, I have been deeply troubled by the repeated terror attacks on our people and public infrastructure in recent months. The cowards behind the attacks have resorted to terror tactics because they have lost the court of public opinion in the rest of the country. Rather […]
By John Lee. The CEO of the National Iranian Oil Company (NIOC) has said that Iran is ready to export technical and engineering services to Iraq. Addressing a meeting of the Joint Working Group on Iran-Iraq Oil Cooperation, Mohsen Khojastehmehr, said: "Iran wants to benefit from Iraq's participation in the development of the oil and […]
From The Middle East Institute. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Economic Diversification and Energy Transition in Iraq and the Gulf Iraq is in the midst of an unprecedented economic crisis as it grapples with a volatile post-election political environment and […]
Ahead of Friday's 2022 Annual General Meeting ("AGM"), Gulf Keystone Petroleum (GKP), provided an operational and corporate update. Shares in the company closed down 4.4 percent. Jon Harris, Gulf Keystone's Chief Executive Officer, said: "Following a year of strong operational and financial performance in 2021, our leverage to the oil price, low-cost production base and […]
By John Lee. Basrah Gas Company (BGC) has exported its first semi-refrigerated liquefied petroleum gas (LPG) shipment from Umm Qasr jetty. The General Manager of BGC, Malcolm Mays, said the export of the first shipment of semi-refrigerated liquid gas is a great and historical achievement for Basra Gas Company, noting that this came as a […]
Dana Gas (PJSC) informs the market that, a small rocket landed yesterday afternoon within the Khor Mor block in the Kurdistan Region of Iraq. No damage occurred and production operations continued normally without interruption. Two contractor staff were treated for minor injuries related to the blast but have returned to work. The company is cooperating […]
By John Lee. The Kurdistan Regional Government (KRG) is reportedly setting up two new companies to manage its energy resources. A new Kurdistan Regional Oil Company (KROC) is to specialise in oil exploration, and the Kurdistan Oil Marketing Organization (KOMO) will concern itself with marketing of the oil. The development comes as Erbil and Baghdad […]
By John Lee. The Minister of Natural Resources of the Kurdistan Regional Government (KRG) has filed a civil suit against the Baghdad Minister of Oil, accusing him of sending emails and letters with the intention of intimidating international oil companies (IOCs) and interfering with the contractual rights of the IOCs and the KRG. The KRG […]
