Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Shares in Genel Energy were trading down 7 percent on Tuesday morning after the company announced disappointing results at the Sarta-5 appraisal well: "Genel Energy plc ('Genel' or 'the Company') announces the following update on the Sarta PSC (30% working interest and operator). "Testing of the Sarta-5 appraisal well has been completed. […]
By John Lee. A financial advisor to the Iraqi Prime Minister has said he expects Iraq's revenues this year to exceed $150 billion. Speaking to the state-controlled Iraqi News Agency (INA), Mudhar Muhammad Salih said sustained high oil prices, combined with non-oil revenues of "no less than $8-10 billion", will result in total revenues for […]
IBBC appoints industry specialist as Strategic Development Officer As the Iraq Britain Business Council (IBBC) Board and Executive Committee re-fresh their strategic plan to continue a pathway to success for Iraq and its business community, it has appointed a Strategic Development Officer to bring industry expertise and experience to its management team. Colin Findlay brings […]
Iraq Business News Expert Blogger, Ahmed Mousa Jiyad, has completed the second volume of his chronicle of the Iraqi oil industry, this time covering 2011. The first volume, published in October 2021, covers the development in the upstream petroleum in Iraq prior to 2011 and has a subtitle "Grand Opening for Big Push Strategy". The […]
By John Lee. Basra Oil Company (BOC) has reportedly said that third offshore pipeline at the Khor Al-Amaya Oil Terminal (KAAOT) (pictured) will be completed by the end of 2023. Acting Director General, Ahmed Fadel Dehaim, told the Iraqi News Agency (INA) that the new line will increase oil export capacity by 600,000 barrels per […]
Writing in Oil Price, Simon Watkins says $100 oil has prompted the Iraqi government to fast-track development of more technically challenging oil fields. Click here to read the full article.
By John Lee. Iraq's Ministry of Oil has announced preliminary 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. A rocket attack that targeted an oil refinery in the Khabat area of Erbil on Sunday has been widely condemned. Six rockets were fired at the Kawergosk refinery, which is owned by KAR Group, reportedly damaging a storage tank. The Iraqi Security Media Cell said it located a launch base near the […]
By John Lee. Gulf Keystone Petroleum (GKP) has just published details of its payments to governments for the year 2021: Introduction This report sets out details of the payments made to governments by Gulf Keystone Petroleum Ltd and its subsidiary undertakings ("Gulf Keystone") for the year ended 31 December 2021 as required under Disclosure and […]
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, […]
