Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Genel Energy has increased its interim dividend, announced in its unaudited results for the six months ended 30 June 2021: Bill Higgs, Chief Executive of Genel, said: "Genel continues to deliver on its strategy and demonstrate the merits of its business model. Capital investment made last year, despite the low oil price […]
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Amid Iranian gas shortage, Iraq searches for alternatives Iran's dilapidated gas infrastructure has limited its transfers to Iraq, adding to Iraq's own energy crisis. Click here to read […]
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for July of 90,467,794 barrels, giving an average for the month of 2,918 million barrels per day (bpd), slightly up from the 2.892 million bpd exported in June. The exports from the oilfields in central and southern Iraq amounted to approximately 87,455,359 barrels, […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. ORCID identifier is: https://orcid.org/0000-0002-0946-9898 Upstream petroleum (Oil, Gas and Condensates) sector occupies very critical position and, accordingly, has influential impacts on the national economies of Iraq, some Middle East and North America- […]
DNO ASA, the Norwegian oil and gas operator, has reported operating profit of USD 61 million in the quarter ending 30 June 2021, its second consecutive profitable quarter since the onset of the COVID pandemic. Revenues totaled USD 184 million, up USD 14 million from the previous quarter, as higher oil and gas prices more […]
By John Lee. Iraq and Lebanon have finalised an agreement under which Iraq will provide the Lebanese Electricity Corporation with 1 million tonnes of heavy fuel oil over a one-year period. Lebanon's caretaker Energy Minister, Raymond Ghajar, signed the deal in Baghdad at the weekend. The oil will be paid for in goods and services. […]
By John Lee. According to a report from Reuters, the Iraqi Prime Minister Mustafa al-Kadhimi has told the press in Washington DC that he wants another American company to replace ExxonMobil when it exits the West Qurna 1 oilfield. Meanwhile, S&P Global Platts reports that Exxon filed an arbitration case against the state-owned Basra Oil […]
By John Lee. UK-based global controls technology company Proserv Controls has secured a significant contract to manufacture and deliver 22 wellhead control panels (WHCP) to the Basra Oil Company (BOC) for use on the Majnoon Oil Field in southern Iraq. The deal has been arranged through KBR, the Houston based engineering, procurement and construction management […]
By John Lee. The Jordanian Ministry of Energy and Mineral Resources has announced that Burj Al Hayat Transport and Trading Company has been awarded a tender to transport Iraqi crude oil to Jordan. The company will be responsible for transporting 10,000 barrels of crude oil per day from Iraq's Baiji oil refinery to Jordan's Petroleum […]
By John Lee. The Iraqi cabinet has approved the agreement between the Ministry of Oil and French company TotalEnergies to implement four major energy projects in the country: Plants to collect and refine associated natural gas at the fields of Artawi [Ratawi], West Qurna 2, Majnoon, Tuba [Subba] and Lahais [Luhais]. This will include a […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for June of 86,765,589 barrels, giving an average for the month of 2.892 million barrels per day (bpd), slightly down from the 2.899 million bpd exported in May. The exports from the oilfields in central and southern Iraq amounted to approximately 83,690,352 barrels, […]
By John Lee. An advisor to Iraqi Prime Minister Mustafa al-Kadhimi has said that nearly half of the country's oil exports go to China, making China the number one market for Iraqi oil. Speaking on Thursday, Mazhar Muhammad Salih said that China accounts for about 40-44 percent of Iraqi oil exports, equating to about 800,000 […]
