Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. OPEC has reportedly agreed to increase Iraq's oil production to 4.5 million barrels per day (bpd) in June. The state-controlled Iraqi News Agency (INA) quotes Iraq's representative to OPEC, Muhammad Saadoun, as saying that oil production will then increase by 50,000 bpd each month from July to September. He also predicted an […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. PM Kadhimi under fire as Iraq debates new oil pipeline to Jordan Since taking office in May 2020, Iraqi Prime Minister Mustafa Al-Kadhimi has placed the activation of an oil pipeline to Jordan […]
By John Lee. The Kurdistan Regional Government (KRG) has denied seizing the Bai Hassan and Dawd Gurg oil fields in Kirkuk from the Iraqi federal government's Ministry of Oil. On Saturday, the North Oil Company (NOC), which is owned by the Iraqi National Oil Company (INOC), claimed that the KRG took over the fields in […]
By John Lee. Media in Pakistan report that Iranian LPG has been illegally imported into the country under the guise of Iraqi product. According to Business Recorder, the latest case is one of five ships which are allegedly involved in the illegal import of Iranian LPG using a falsified declaration of origin. Pakistan's Ministry of […]
DNO ASA, the Norwegian oil and gas operator, today reported an 84 percent jump in operating profit in the first quarter of 2022 to USD 236 million on the back of high oil and gas prices and solid production performance. Net debt dropped USD 126 million quarter-on-quarter to USD 27 million. "Oil and gas are […]
Genel Energy has issued the following trading and operations update ahead of the Company's Annual General Meeting ('AGM'), which is being held today: Bill Higgs, Chief Executive of Genel, said: "Our robust financial position continues to strengthen, supporting investment in our organic portfolio as well as our progressive dividend. Despite the result of Sarta-5, the […]
By John Lee. The Turkish-based private jet charter company AirSada has won a second contract to supply medical evacuation (medevac) services, this time to South Korea's Hyundai Engineering and Construction in Iraq. The contract with AirSada, which runs to September 2025, includes air ambulance and medical treatment services. It was signed by Mr Tolga Urcu, […]
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Russian ambassador to Iraq: 'No objections' to Kurdistan Region exporting gas to Europe Elbrus Kutrashev (pictured) spoke to the Kurdish news outlet Rudaw about plans to export natural gas […]
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 […]
