Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
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 […]
From Middle East Monitor, under a Creative Commons licence. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraq reduces energy imports from Iran by 75% Iraq has reduced its electricity and gas imports from Iran by 75 per cent after achieving a strong […]
From Middle East Monitor, under a Creative Commons licence. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. An official Kurdish delegation arrived on Sunday in the Iraqi capital Baghdad to discuss oil production. "The delegation, led by the Kurdistan government's Finance Minister, Awat […]
By John Lee. Two rockets have reportedly struck near a Chinese oil facility south of Baghdad on Saturday. According to AP, there were no casualties. It cites an Iraqi army statement saying the rockets struck near a Chinese company in the Nahrawan area, and speculates that the company involved is ZhenHua, a subsidiary of the arms […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Oil Market Collapse, Damages the Iraqi Economy and Changes Oil Geopolitics The collapse of the global oil market is undoubtedly unprecedented in its timing, magnitude, spread and devastating impacts across the globe. […]
Report on payments to governments for the year 2019 Introduction and basis for preparation This report sets out details of the payments made to governments by Genel Energy plc and its subsidiary undertakings ('Genel') for the year ended 31 December 2019 as required under the Disclosure and Transparency Rules of the UK Financial Conduct Authority […]
By John Lee. At least three rockets are reported to have hit near Halliburton's site in the Burjesia area of Basra early on Monday morning. It is understood that the incident caused no casualties or damage. It is the first attack to target US energy interests in Iraq in recent months. (Sources: S&P Global Platts, […]
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for March of 105,102,927 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 101,395,907 barrels, […]
By John Lee. Russia's Gazprom Neft has reportedly said it will not reduce investment in its projects in Iraqi Kurdistan, despite a request from the Kurdistan Regional Government (KRG) to do so. Reuters reports that following a slump in oil prices, oil producers have been asked to reduce their investments, which governments often have to […]
