Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
DNO ASA, the Norwegian oil and gas operator, has announced completion of testing and appraisal of the Baeshiqa-2 exploration well in the Kurdistan Region of Iraq and the imminent spud of an exploration well on a separate prospect, Zartik, located 15 kilometers southeast on the same license. The testing has proven oil and gas in […]
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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 2019. The report, available in Kurdish, English and Arabic, provides a quarterly analysis of oil export information and average prices, together with a consolidated annual overview. The data verification […]
By John Lee. Iraq's Ministry of Oil has announced oil exports for April of 103,144,911 barrels, giving an average for the month of 3.438 million barrels per day (bpd), slightly up from the 3.390 million bpd exported in March. These exports from the oilfields in central and southern Iraq amounted to 100,532,427 barrels, while exports […]
By John Lee. Shares in Genel Energy plc were trading lower in Friday after the company said negotiations were continuing regarding the Bina Bawi field in Iraqi Kurdistan. In a statement, the company said: "Extensive documentation was received in mid-April from the Kurdistan Regional Government ('KRG') following the commercial understanding reached in September 2019. The […]
By John Lee. Gulf Keystone Petroleum (GKP) has announced that it was informed on 30th April 2020 of the following transactions by persons discharging managerial responsibilities and persons closely associated with them. Mr Ian Weatherdon (pictured), Chief Financial Officer, purchased 50,112 common shares in Gulf Keystone Petroleum Limited on 30 April 2020 at a price […]
By John Lee. Iraq's Ministry of Oil has announced final oil exports for March of 105,118,523 barrels, giving an average for the month of 3.390 million barrels per day (bpd), essentially the same as the 3.391 million bpd exported in February. These exports from the oilfields in central and southern Iraq amounted to 101,392,918 barrels, […]
By John Lee. Washington has renewed a waiver for Iraq to continue importing Iranian electricity, a US State Department official said. "The Secretary granted this brief extension of the waiver to allow time for the formation of a credible government," the official said, referring to US Secretary of State Mike Pompeo, and added that the […]
By John Lee. Baghdad is said to have stopped payments to the Kurdistan Regional Government (KRG). Writing for Argus Media, Rowena Edwards says central government will also seek to recover payments made since the start of the year, in the absence of KRG transfers of crude oil, which were part of the as-yet-unsigned 2020 budget. […]
By John Lee. Lukoil is reportedly having difficulties staffing its operations in Iraq due to coronavirus and associated restrictions. Interfax cited chief executive Vagit Alekperov (pictured) was quoted as saying that the company has a problem with replacing shift workers, adding, "We are reaching deals with people to keep them on for shifts that are […]
On April 20, 2020, IRIS held a webinar entitled Iraq's Economy: Spotlight on Oil and Gas. The discussion focused on Iraq's economy amidst falling oil prices and additional pressures from the ongoing COVID-19 pandemic. Speakers included IRIS Senior Fellow and AFC Iraq Fund Chief Investment Officer Ahmed Tabaqchali, Iraq Correspondent for Associated Press (AP) Samya Kullab, […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) were up around 10 percent on Thursday morning, following the company's announcement of its results for the year ended 31 December 2019. Jón Ferrier (pictured), Gulf Keystone's Chief Executive Officer, said: "2019 saw a step change in activity at Shaikan; we delivered production and controlled expenditures […]
