Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Shares in Genel Energy were trading down 4.5 percent on Thursday morning after the company announced its unaudited results for the six months ended 30 June 2020. Bill Higgs, Chief Executive of Genel, said: "Genel's robust business model, which is designed to provide resilience in a challenging environment, has demonstrated its value […]
Weir Oil & Gas Dubai announced today it has signed a multi-year multimillion dollar contract in Iraq with a major gas company. The contract secures the provision of Weir Oil & Gas fabrication, workshop-machining services and field services to support the company's operations in Iraq, especially with respect to brownfield modifications and rotating equipment maintenance. […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A number of Iraq's oil professionals and technocrats have authored books documenting their own experience during the period of their time in the Iraqi petroleum sector. In addition to providing invaluable first-person […]
By John Lee. Iraq's Ministry of Oil has announced preliminary 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 […]
DNO ASA, the Norwegian oil and gas operator, today reported stepped up investments across its portfolio on the back of higher production and significantly improved liquidity outlook as the Company recovers from the oil market turmoil that upended the second quarter of 2020. Operated production in July at the Company's flagship Tawke license in the […]
Ziad Akle, Unaoil's territory manager for Iraq, has been sentenced to five years' imprisonment for paying over $500,000 in bribes to secure a $55m contract to supply offshore mooring buoys. [Update 10th Dec 2021: Akle's conviction was quashed by the Court of Appeal.] The new buoys formed part of the post-occupation Iraqi government's "Master Plan" […]
Oryx Petroleum Corporation has announced that the Corporation's two largest shareholders have informed the Corporation that Zeg Oil and Gas Ltd. acquired control of the Corporation from AOG Upstream BV on July 23, 2020 in the context of the previously announced transaction. The acquisition was conditional upon and subsequent to the closing of the Loan […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for June of 84,489,016 barrels, giving an average for the month of 2.816 million barrels per day (bpd), down from the 3.212 million bpd exported in May. These exports from the oilfields in central and southern Iraq amounted to 81,006,497 barrels, while exports […]
Iraq Business News would like to recommend an excellent and informative webinar from the Iraq Britain Business Council (IBBC)'s Young Executives Network (YEN), featuring a discussion with Ali Al-Saffar, the Middle East and North Africa Program Manager at the International Energy Agency (IEA) in Paris. Ali shared his insights on "The importance of oil and […]
Weatherford International has announced that it has signed an 18-month contract with the Iraqi Drilling Company (IDC) to provide services and project management for the drilling and completion of twenty wells in the Al-Nasiriyah field in the Dhi Qar province in southern Iraq. Basim M. Khudair, General Director for IDC, said: "Signing this contract between […]
Further to the recent announcement that Garrett Soden was to be re-appointed to the Board of Gulf Keystone Petroleum (GKP) as a Non-Independent Non-Executive Director representing funds managed by Lansdowne Partners Austria GmbH, the Company is pleased to confirm that the formal appointment process has now been completed and as such welcomes Mr Soden back […]
By John Lee. The UK's Serious Fraud Office (SFO) has secured convictions against two former oil executives who conspired to give corrupt payments to secure contracts in Iraq. A jury at Southwark Crown Court found Ziad Akle guilty on two counts and Stephen Whiteley guilty on one count of conspiracy to give corrupt payments. [Update […]
