Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. The Judicial Council of Kurdistan Region of Iraq has issued a statement saying that the provisions of its oil law (Law No. 22, 2007) do not violate the Iraqi Constitution and therefore should be recognized as "standing laws". The statement follows months of dispute between Baghdad and Erbil regarding control of the […]
By John Lee. Iraq's Minister of Oil, Ihsan Abdul-Jabbar Ismail, has met with the Saudi Minister of Energy, HRH Abdulaziz bin Salman, to discuss connecting their respective electricity grids. They also discussed enhanced energy cooperation between the two countries, and the work of the Saudi-Iraqi Coordination Council. Iraq and Saudi Arabia signed a memorandum of […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Why foreign oil companies in Iraq need oil wealth to trickle down Iraq's oil wealth is among the greatest on the planet. Total proven crude reserves are estimated at 150 billion barrels, and […]
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for May of 102,303,020 barrels, giving an average for the month of 3.300 million barrels per day (bpd), slightly down from the 3.380 million bpd exported in April. The exports from the oilfields in central and southern Iraq amounted to approximately 98,946,914 barrels, […]
By John Lee. Iran has reduced its gas supply to Iraq by 5 million cubic meters per day, causing a reduction in electricity production, according to a statement on Wednesday from Iraq's Ministry of Electricity. The Iranian government had demanded payment of debts relating to gas supply, which AFP says totals $1.6 billion and dates […]
By Haider Ibrahim for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Dispute over Iraqi Kurdistan's energy resources ramps up The Iraqi Ministry of Oil has announced plans to establish a new oil company for the Kurdistan Region. Click here to […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. KRG Minister of Natural Resources resigns The office of the Kurdistan Region Prime Minister announced on Thursday that Minister of Natural Resources, Kamal Atroshi (pictured), has resigned from his post over health issues, at […]
By John Lee. China Petroleum Engineering Procurement & Construction (CPECC) has reportedly won an engineering contract for a plant to process gas from the Gharraf (Garraf) and Nasiriyah fields. According to Upstream Online, the contract was awarded by lead contractor Baker Hughes. More here (subscription required) (Source: Upstream Online)
Writing in Oil Price, Simon Watkins examines recent statements by Iraq's Oil Minister, Ihsan Abdul-Jabbar, that the country aims to increase its crude oil production to 6 million barrels per day (bpd) by the end of 2027. Click here to read the full article.
The Iraq Britain Business Council (IBBC) hosted the largest attendance for their Spring conference at the Mansion house on 24th May, with just under 300 attendees, half of whom came from Iraq. Widely considered a success, the overall theme was 'sustaining economic growth in Iraq', There were multiple panels and roundtable sessions; including four panels […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for April of 101,390,662 barrels, giving an average for the month of 3.380 million barrels per day (bpd), up from the 3.244 million bpd exported in March. This is the highest daily export rate since the 3.438 million barrels per day achieved in […]
By John Lee. Genel Energy has announced that Luke Clements (pictured) has been appointed Chief Financial Officer (CFO) with immediate effect. Luke, who was previously Interim Chief Financial Officer, has been responsible for a broad range of financial, commercial, and treasury related activities at the Company. Having joined the Company in 2011 to advise on […]
