Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
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 […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for December of 88,211,750 barrels, giving an average for the month of 2.846 million barrels per day (bpd), up from the 2.709 million bpd exported in November. These exports from the oilfields in central and southern Iraq amounted to approximately 85,195,608 barrels, while […]
Genel Energy notes that DNO ASA, as operator of the Tawke PSC (Genel 25% working interest), has issued an update on licence activity. Gross operated production from the Tawke licence averaged 110,300 bopd in 2020, about evenly split between the Tawke and Peshkabir fields, the sixth consecutive year in which gross Tawke licence production has […]
Deloitte report on Oil and Gas review in the Iraqi Kurdistan Region - Q1 to Q3 of 2020 The KRG's Regional Council of Oil and Gas Affairs has published a report containing verified statistics covering the Kurdistan Region's oil exports, consumption and revenues for period 1 January 2020 to 30 September 2020. The report, available […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) closed the day up more than 5 percent on Wednesday, after the Kurdistan-focused oil producer provided an operational and corporate update to the markets. Jón Ferrier, Gulf Keystone's Chief Executive Officer, said: "I am pleased to report that throughout 2020, Gulf Keystone successfully managed the challenging […]
By John Lee. The Iraqi Ministry of Oil has doubled capacity at its Salahuddin-2 refinery, part of the Baiji complex, from 70,000 barrels per day (bpd) to 140,000 bpd. Speaking at the opening ceremony on Monday, Oil Minister Ihsan Abdul Jabbar Ismail said he plans to restore capacity at the plant to the 280,000 bpd level […]
By John Lee. Iraq has reportedly awarded a Chinese company a deal which would see it paying $2 billion upfront for a year's supply of oil. Alaa al-Yasiri, General Manager of State Oil Marketing Organization (SOMO) told Iraqi News Agency (INA) that a Chinese company had won the contract ahead of a European company, but […]
By John Lee. The Indian Oil Corporation (IOC) has reportedly loaded its first cargo of Iraq's new "Basra Medium" crude grade. According to the Financial Post, the ship is expected to arrive at Chennai port for IOC's subsidiary Chennai Petroleum Corp (CPCL) around 14th January. More here. (Source: Financial Post)
