Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Dana Gas PJSC, the Middle East's largest regional private sector natural gas company, today announced its Preliminary Unaudited Financial Results for the full year ended 31 December 2020. The Company reported a Net Profit of $36 million (AED 131mm) versus $88 million (AED 322mm) in 2019, excluding one-off non-cash impairments and other income. Including these […]
DNO ASA, the Norwegian oil and gas operator, today reported interim 2020 revenues of USD 615 million, down a third from a year earlier in the wake of weak oil prices triggered by the pandemic and global economic contraction. Net production totaled 95,100 barrels of oil equivalent per day (boepd), down nine percent, as the […]
By John Lee. The Iraqi Republic Railway Company (IRR) has reportedly announced that it has resumed transportation of oil derivatives from Central Iraq to the South. Click here to read the full article. (Source: Daiji World)
By John Lee. Iraq's Cabinet has agreed to supply 500,000 tons of heavy fuel oil annually to Lebanon. According to a statement from Prime Minister Mustafa Al-Kadhimi, the oil will be paid for in a barter deal, in return for services, medical goods, medicines and consulting services. (Source: Office of the Iraqi Prime Minister)
By John Lee. Iraq's Ministry of Oil has announced initial oil exports for January of 88,922,697 barrels, giving an average for the month of 2.868 million barrels per day (bpd), up from the 2.846 million bpd exported in December. These exports from the oilfields in central and southern Iraq amounted to approximately 85,870,503 barrels, while […]
By John Lee. The Dhi Qar Oil Company (DQOC) has reportedly said that Litasco, the international marketing and trading company of Russia's LUKOIL, will finance the doubling of capacity at the Nassiriyah oil field from 100,000 barrels per day (bpd) to 200,000 bpd. The project includes a 42-kilometer pipeline, and will be a joint venture […]
By John Lee. Iraq's Ministry of Oil has signed a Memorandum of Understanding with French oil company Total. According to a statement from the Ministry, both sides have "achieved advanced cooperation steps towards implementing large projects in the oil and energy sector." The document was signed in Baghdad by Oil Minister Ihsan Abdul-Jabbar Ismail and […]
By John Lee. French petroleum consultancy Beicip-Franlab met with Iraqi Oil Minister Ihsan Abdul-Jabbar Ismail in Baghdad on Wednesday to discuss strategic plans to develop oil and gas fields in the country. Among those in attendance were the company's Chairman and CEO, Jean Burrus, and the French Ambassador to Iraq, Bruno Aubert. (Source: Iraqi Ministry […]
By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq approves Paris climate accord in step toward curtailing oil dependence Iraq faces significant hurdles in transitioning to an economy without oil dependence, and future trends can be expected to exacerbate […]
By John Lee. Baker Hughes has confirmed that it has been awarded what it describes as a "major contract" by Iraq's South Gas Company (SGC) in the last quarter of 2020. The project consists of the design, manufacturing, delivery, construction and commissioning of an integrated facility for the processing and production of natural gas. The […]
By John Lee. Iraq's Ministry of Oil has signed an outline agreement with a Chinese consortium for the development of the Dhi Qar refinery. A Ministry official described the signing of the initial principles agreement as an important step forward, and a prelude to the signing of the final investment contract for the Dhi Qar […]
By John Lee. Genel Energy has issued the following trading and operations update in advance of the Company's full-year 2020 results, which are scheduled for release on 18 March 2021. The information contained herein has not been audited and may be subject to further review. Bill Higgs, Chief Executive of Genel, said: "Executing our strategy […]
