Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
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By John Lee. Iraq's South Gas Company (SGC) has announced a project to capture gas at the Nasiriyah and Garraf [Gharraf] oil fields, in partnership with the American company Baker Hughes. Instead of flaring, the gas will be used to increase electricity generation, while reducing the environmental impact of oil production. The project will also […]
By John Lee. Iran's has reportedly appointed a special representative for petroleum issues involving Iraq. According to ABNA24, Seyyed Abbas Beheshti will coordinate with the National Iranian Gas Company (NIGC) and the Central Bank of Iran to accelerate payments of arrears. It adds that Iraq owes Iran nearly $6 billion for imports of natural gas […]
On September 21st, 2015, Al Majal Business Park (AMBP) opened its doors in Burjessia, serving local and international clients. Today AMBP is a recognized, leading life support services provider in Iraq. Innovation has always been part of our journey. We continue to apply value-driven innovative ideas to deliver world-class services at AMBP. Our team works […]
By John Lee. Iraq's North Oil Company (NOC) has signed a Heads of Agreement (Memorandum of Understanding) with two energy companies to build a 70,000-barrels-per-day oil refinery in Qayara (Qayyarah). The facility, Nineveh province, is to be built by Sweden's SEAB and Turkey's Limak. No information was given regarding the size of the investment or […]
By John Lee. At the most recent meeting of Iraq's Ministerial Energy Council, headed by Oil Minister Ihsan Abdul-Jabbar Ismail, the Council decided that the South Refineries Company (SRC) should "take the necessary steps" to develop the Shuaiba refinery in Basra Governorate. It also urged the acceleration of work on the 140,000-bpd Karbala oil refinery, […]
By John Lee. Iraq's Ministry of Oil has announced the start of seismic survey work at the Sasan-Talafar exploration project in Nineveh. The Director General of the Iraq Oil Exploration Company said that the eighth seismic division has started two- and three-dimensional geological survey work at the site, "within the framework of the oil exploration […]
By John Lee. ShaMaran Petroleum has announce that the Atrush block in Iraqi Kurdistan has surpassed the cumulative oil production milestone of 50 million barrels since its first oil in July 2017. Dr. Adel Chaouch, President and Chief Executive Officer of ShaMaran, commented: "This significant operational achievement is noteworthy as the production milestone has been […]
By John Lee. On September 3, 2021, China's CITIC Construction successfully signed the EPC general contract for the Kirkuk oil refinery in Iraq. Chen Xiaojia, Chairman of CITIC Construction, and Jalal Haji Ahmed, Chairman of Iraq's Rania International [Ranya], signed the contract in Beijing and Dubai respectively via video link. The Kirkuk refinery can process […]
By John Lee. Iraq has reportedly re-started the supply of crude oil to Jordan by road. Shipments ended in November 2020 following the expiration of the previous agreement. The latest agreement sees a total of 3.7 million barrels being exported from Baiji refinery to the Jordanian refinery at Zarqa, at a rate of 10,000 barrels […]
By John Lee. The recently-created Iraqi National Oil Company (INOC) has held its first meeting in Baghdad. Among the items discussed were the five-year plan for the oil exploration sector, and what were described as "interim and future production and export plans", in coordination with the State Oil Marketing Organization (SOMO). (Source: Ministry of Oil)
Pearl Petroleum, the consortium led by Dana Gas and Crescent Petroleum of the UAE, has signed a $250 million financing agreement with the U.S. International Development Finance Corporation (DFC) to support the gas expansion works currently under way at the Khor Mor gas plant in the Kurdistan Region of Iraq (KRI). DFC is the development […]
