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 Petrofac were trading up more than 7 percent on Monday, as the company was ordered to pay GBP 77 million [$105 million] after the UK's Serious Fraud Office (SFO) secured further convictions in its investigation into bribery and corruption at the Jersey-registered energy services company. On Friday, Petrofac Limited pleaded […]
By John Lee. The CEO of the National Iranian Gas Company (NIGC) has said Iran is ready to extend its gas export deal with Iraq. Majid Chegeni, who is also the Deputy Minister of Petroleum for Gas Affairs, said: "Our relationship with Iraq is strategic and apart from economic relations, we have deep cultural and […]
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for September of 92,422,485 barrels, giving an average for the month of 3.081 million barrels per day (bpd), up slightly from the 3.054 million bpd exported in August. The exports from the oilfields in central and southern Iraq amounted to approximately 89,224,354 barrels, […]
By John Lee. Iraq's Oil Minister Ihsan Abdul-Jabbar Ismail has visited Azerbaijan to discuss cooperation between the two countries in the field of oil and gas. Azerbaijan's Minister of Energy, Parviz Shahbazov, said it would be possible to supply Iraqi crude oil and oil products to the world market via SOCAR, the state-owned oil and […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for August of 94,660,239 barrels, giving an average for the month of 3.054 million barrels per day (bpd), up from the 2.918 million bpd exported in July. The exports from the oilfields in central and southern Iraq amounted to approximately 91,655,930 barrels, while […]
By John Lee. Shell is reported to be in talks with Iraq to boost Basra Gas Company's capacity. According to S&P Global Platts, BGC is planning to increase capacity for gas production from 1 billion cubic feet per day (Bcf/d) now to 1.4 Bcf/d in two years; discussions with Shell could see that increase further […]
By John Lee. Petrofac shares closed the day up more than 26 percent on Friday, after the company announced that it has reached a plea agreement with the UK Serious Fraud Office (SFO) in relation to bribery in Iraq, Saudi Arabia and the UAE. The Company indicated guilty pleas to seven counts of failing to […]
By John Lee. Petrel Resources has said that "Iraq remains the biggest commercial opportunity in petroleum today." In the company's Interim Statement to the markets on Wednesday, Chairman David Horgan added: "The geology is unsurpassed. The oil market is sharply recovering. But contracts must be updated for effective exploration and development." "The focus is once […]
You are invited to attend the Iraq Business Forum on 27th September in Central Hall Westminster. Hear from IBBC members and British companies. Meet Iraqi businesses leaders interested to source products from the UK across multiple sectors. Enjoy one to one business meetings.
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 […]
