Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Iraq and Jordan have reportedly agreed to re-start the export of crude oil from Kirkuk to the refinery at Zarqa in Jordan. The most recent deliveries to Jordan by truck were in January, and according to Jordan Times they are expected to resume in April. Exports have previously been agreed at 10,000 […]
From the Iraq Britain Business Council (IBBC): Baroness Nicholson and Christophe Michels led a 30-strong delegation of IBBC Members to Riyadh to meet with Members of the Saudi Iraqi Business Council. The high profile meeting of Members of both Councils met under the auspices of the Saudi Minister of Commerce at the head quarters of […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for February of 92,790,173 barrels, giving an average for the month of 3.314 million barrels per day (bpd), up from the 3.203 million bpd exported in January. The exports from the oilfields in central and southern Iraq amounted to approximately 91,314,828 barrels, while […]
By John Lee. The UK's Court of Appeal has reportedly overturned the conviction of Paul Bond, who was jailed last year in relation to the Unaoil bribery scandal in Iraq. Mr Bond (69), a former senior sales manager at SBM Offshore (SBM), had been sentenced to three and a half years in prison on two […]
By John Lee. The Iraqi Cabinet has approved a plan to expand Diwaniya Refinery. According to details released from the cabinet meeting this week, capacity at the plant will be increase to nearly 70,000 barrels per day (bpd), (Source: Govt of Iraq)
By John Lee. The Minister of Oil, Ihsan Abdul-Jabbar Ismail, has said that Iraq is committed to reducing carbon emissions through implementing a number of gas investment projects and developing gas fields, as well as projects to produce solar energy. At a conference in Iraq under the title "Pathways for a lower carbon future for […]
Writing in Oil Price, Simon Watkins says Iraq's West Qurna 2 oilfield, run by Russian oil giant Lukoil, may see a quick increase in production from 400,000 barrels per day (bpd) to well over 600,000 bpd, rising to more than 1 million bpd further out. Click here to read the full article.
Genel Energy has announced its audited results for the year ended 31 December 2021. Bill Higgs, Chief Executive of Genel, said: "Our strategy and business model remain focused on cash generation. Prior to the invasion of Ukraine and the associated increase in the oil price, we were well positioned for our free cash flow to […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. In pursuit of gas, will Turkey choose Erbil over Baghdad? Iraq's federal supreme court last month ruled that a 2007 law allowing the Kurdistan Regional Government (KRG) to manage oil and natural gas […]
By John Lee. Iraq's Ministry of Oil has announced that the average daily exports and revenues generated from the export of crude oil for February 2022 are the highest in eight years. The Minister of Oil, Ihsan Abdul-Jabbar Ismail, said that the Ministry, despite the economic and security challenges, fluctuations in global oil markets and […]
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Market Review: "Oil and the Economy" The market, as measured by the Rabee Securities RSISX USD Index, increased by 4.5%, and 8.8% for the year. Average daily […]
By Ruxandra Iordache for Argus Media. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's State Oil Marketing Organization (SOMO) has received requests for additional crude supply as buyers seek alternatives to Russian volumes, according to a senior Iraqi official. Click here to […]
