By John Lee. At its regular meeting this week the Iraqi Cabinet approved the recommendation of the Ministerial Council for Energy to proceed with the development project at Haditha refinery. The American company Honeywell UOP is to carry out the work on behalf of the North Refineries Company (NRC). Haditha refinery is situated in Anbar […]
Archive | Iraq Oil & Gas News
Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Tags: featured, Haditha, Haditha Refinery, Honeywell, mn, North Refineries Company (NRC), Refineries, United States
DNO reports Record Revenues
DNO ASA, the Norwegian oil and gas operator, today reported record revenues exceeding USD 1 billion in 2021, up 63 percent from a year earlier, on the back of high oil and gas prices and solid production performance. Annual operating profit climbed to USD 321 million, reversing operating loss of USD 315 million in 2020. […]
Tags: Baeshiqa, DNO, featured, Iraq Oil Production News, Kurdistan News, Norway, oil revenues, Peshkabir, Tawke
Iraq's Four "Game-Changing" Energy Projects
Writing in Oil Price, Simon Watkins says Iraq's $27-billion four-project deal with French energy company TotalEnergies will be a game-changer. Click here to read the full article.
Tags: Akkas, Akkaz, Common Seawater Supply Project (CSSP), featured, France, Mansouriya, TotalEnergies
Iraq Oil Exports Exceed $75bn in 2021
By John Lee. Iraq's Ministry of Oil has announced total financial revenues from oil exports to $75.650 billion for 2021, which it says is a marked increase on budgeted expectations for the year. The Ministry's Deputy for Upstream Affairs, Kareem Hattab, pointed to the commitment of the OPEC+ producers in achieving stability in oil markets, […]
Iraq was Largest Beneficiary of China's Belt & Road in 2021
By John Lee. Iraq was the largest beneficiary from China's Belt and Road Initiative (BRI) in 2021, according to a study by the Green Finance & Development Center, at Shanghai's Fudan University. It says the country with the highest construction volume was Iraq, with about $10.5 billion, followed by Serbia (about $6.8 billion) and Indonesia […]
Tags: Al-Khairat Power Station, Belt and Road Initiative (BRI), China, China State Construction Engineering Corporation (CSCEC), featured, Mansouriya, Midland Oil Company, mn, Nasiriyah Airport, One Belt One Road (OBOR), Power Construction Corporation of China (PowerChina), SINOPEC
China "Tightens its Grip on Iraq" with 3 Major Oil Deals
Writing in Oil Price, Simon Watkins says that China has continued to press home the geopolitical advantage given to it in Iraq following the official end of the U.S.'s 'combat mission' in the country with the conclusion of three huge deals, all focused on the oil sector. Click here to read the full article.
Tags: Akkas, Belt and Road Initiative (BRI), China, featured, Mansouriya, One Belt One Road (OBOR), Siba, SINOPEC
Iraq Oil Export Qty Falls in January, but Revenues Up
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for January of 99,286,078 barrels, giving an average for the month of 3.203 million barrels per day (bpd), down from the 3.277 million bpd exported in December. The exports from the oilfields in central and southern Iraq amounted to approximately 96,430,596 barrels, while […]
Former CEO of GKP Jailed for Tax Evasion
By John Lee. A US court has sentenced the former CEO of Gulf Keystone Petroleum (GKP) to five years in prison for tax evasion. According to a statement from the US Department of Justice, Todd Kozel used offshore structures, trusts, and bank accounts to conceal a portion of his undeclared income from the U.S. government. […]
Iraq-Jordan Oil Pipeline: Financially Costly, Contractually Complex
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq-Jordan Oil Pipeline -- Financially Costly, Contractually Complex Since 1983 the Basra-Aqaba, or Iraq-Jordan, oil pipeline (IJOP) has been on and off the screen of the bilateral relation between the two countries. […]
Tags: Ahmed Mousa Jiyad, Aqaba, featured, Iraq-Jordan Pipeline, Jordan, mn, pipelines, State Company for Oil Projects (SCOP)
Iraqi Drilling Company visits SOCAR AQS
By John Lee. The General Director of Azerbaijan-based oil services company SOCAR AQS, Samir Mollayev, met with a delegation led by General Director of Iraqi Drilling Company (IDC), Basim Abdulkareem, on Tuesday. At the meeting held in Socar's Baku office, he informed the guests about the development of the oil and gas industry in Azerbaijan, […]
Chinese Consortium wins $594m Iraq Oil Processing Contract
By John Lee. Kuwait Energy Basra Limited (KE Basra), an indirect wholly-owned subsidiary of Hong Kong-based United Energy Group (UEG), has entered into the EPCC (engineering, procurement, construction and commissioning) contract with a Chinese consortium to provide a central processing facility including oil treatment system and auxiliary systems at Block 9 in Basra. The contractor […]
Tags: Basra News, Basra Oil Company (BOC), Block-9, China, China CAMC Engineering, China National Offshore Oil Corporation, CNOOC News, Dragon Oil, Egyptian General Petroleum Corp, Faihaa, Hong Kong, Kuwait Energy Basra (KE Basra), UEG, United Energy Group
Aggreko completes Flare-Gas-to-Power plant in KRI
UK-based Aggreko has announced that it has completed commissioning of the largest flare-gas-to-power project in the Middle East to date at 165 MW capacity. The plant is situated nearby the Saqala [Sarqala] Field, Garmain block, South East Kurdistan. The 165 MW modular power plant has run at full capacity for 72 hours in the project's […]