Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
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 […]
By John Lee. The Chief Executive of Russia's LUKoil has reportedly confirmed that the company may reduce its stake in Iraq's West Qurna-2 oil field. Reuters cites Vagit Alekperov as making the comment on Thursday during a visit to the company's facilities in Nizhny Novgorod. (Source: Reuters)
By John Lee. Dana Gas PJSC announced that its H1 2021 collections from the Kurdistan Region of Iraq (KRI), and Egypt have increased 106% year-on-year to $185 million (AED 678m), the highest level in more than five years. Dana Gas, which owns a 35% stake in Pearl Petroleum, saw its share of collections from sales […]
By John Lee. Reuters reports that China's state-owned China National Chemical Engineering Company (CNCEC) is to build a 300,000-bpd oil refinery at the Iraqi port of Fao. (Sources: Reuters, Mehr)
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. IOC's Strategic Positioning in Iraq Upstream Petroleum Much talk have been circulating recently on "Big Oil" abandoning Iraq upstream petroleum projects after they rushed into the country many years ago. How much […]
By John Lee. ShaMaran Petroleum has announced that it has signed an agreement with a subsidiary of French major TotalEnergies S.E. to acquire its affiliate (TEPKRI Sarsang A/S) holding an 18% non-operated participating interest in the Sarsang Production Sharing Contract in the Kurdistan Region of Iraq for an initial consideration of USD 155 million plus […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, has announced the appointment of Chris Spencer (pictured) as its Chief Operating Officer, effective immediately. Spencer joined the Company in 2017 and his most recent position was Deputy Managing Director. (Source: DNO)
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. With deal in hand, will Baghdad, Erbil fulfil budget obligations? To what extent will the Kurdistan region of Iraq (KRI) be seriously committed to the provisions of the federal budget now that it […]
