Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Iraq's Oil Minister, Ihsan Ismaael [Ahsan Abdul-Jabbar Ismail], will reportedly become the head of a recently-revived Iraq National Oil Company (INOC). Mr Ismael was previously the director general of the state-run Basra Oil Company (BOC); he joined the cabinet of Prime Minister Mustafa Al Kadhimi in June. More here. (Source: The National)
Genel Energy has published its first comprehensive Sustainability Report, prepared in accordance with the Global Reporting Initiative ('GRI') Standards core option. Bill Higgs, Chief Executive of Genel, said: "Genel has had a longstanding commitment to positively impact the communities in which we operate. This has focused on three core areas - economic development, education, and […]
DNO ASA, the Norwegian oil and gas operator, today announced that the USD 110 million Peshkabir Gas Capture and Injection Project in its Tawke license in the Kurdistan region of Iraq is onstream and has reached the one billion cubic feet of gas injection milestone. The project is expected to reduce annual emissions from the […]
By John Lee. Genel Energy has engaged Pareto Securities to organise a roadshow with international credit investors. The Company may, subject to market conditions and acceptable terms on the new issue, raise a new five-year bond of up to $300 million to replace the Company's existing bond maturing in December 2022. Genel had cash in […]
By John Lee. Italian oil company ENI is reported to be in talks to build a $4-billion, 300,000-bpd refinery near Iraq's Zubair oil field. S&P Global quotes Oil Minister Ihsan Ismaael [Ahsan Abdul-Jabbar Ismail] as saying that that the first phase, with a capacity of 150,000 bpd, would be operational by 2025. The Minster reportedly […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The following is an executive summary of my detailed assessment of the INOC Law First Amendment, currently debated by the Council of Ministers: The verdict by the Federal High Court-FHC regarding the […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) were trading largely unchanged at lunchtime on Thursday, after the company announced a loss for the half year ended 30 June 2020. Company statement: Jón Ferrier, Gulf Keystone's Chief Executive Officer, said: "We moved decisively to protect the business and preserve liquidity in response to COVID-19 […]
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for August of 80,494,536 barrels, giving an average for the month of 2.597 million barrels per day (bpd), down from the 2.763 million bpd exported in July. These exports from the oilfields in central and southern Iraq amounted to 77,505,136 barrels, while exports […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for July of 85,663,290 barrels, giving an average for the month of 2.763 million barrels per day (bpd), down from the 2.816 million bpd exported in June. These exports from the oilfields in central and southern Iraq amounted to 82,700,381 barrels, while exports […]
The following commercial agreements worth as much as $8 billion were reached during a signing ceremony between U.S. energy companies and the Government of Iraq on August 19, 2020: Honeywell and the Ministry of Oil agreed to advance the development of the Ar Ratawi [Artawi] gas project, which will further enable Iraq to capture, process, and […]
By John Lee. Iraq Business News Expert Blogger, Ahmed Mousa Jiyad, has demanded an investigation into Iraq's reported contract to buy tankers from a Norwegian company. The Ministry of Oil announced on 18th August that the Iraqi Oil Tankers Company (IOTC) had concluded a contract with Norway's Batservice Mandal [Båtservice Mandal AS] to build two […]
By John Lee. Iraq's Ministry of Oil, represented by the Iraqi Oil Tankers Company (IOTC), has concluded a contract with Norway's Batservice Mandal [Båtservice Mandal AS] to build two oil tankers. Oil Minister Ahsan Abdul-Jabbar Ismail said that this contract comes within the framework of the ministry's plans to rebuild the national fleet of oil […]
