Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. The Basra Oil Company (BOC) will reportedly reduce production at the Nahr Bin Umar oilfield due to pollution and gas emissions. Director General Ihsan Abduljabbar [Ihsan Abdul Jabbar Ismail] is quoted as saying that the field is considered one of Iraq's most controversial because of pollution and gas emissions. (Source: Reuters)
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq struggles to switch from use of imported fuel to national gas The Iraqi government is trying to get people to switch from imported fuel to locally produced gas. All new public transport […]
DNO ASA, the Norwegian oil and gas operator, today reported interim 2019 revenues of USD 971 million, the highest in the Company's 48-year history, on the back of acquisitions and a record drilling campaign driving a 28 percent year-on-year increase in Company Working Interest (CWI) production to 104,800 barrels of oil equivalent per day (boepd). […]
Genel Energy has announced the appointment of David McManus as Chairman with immediate effect. Sir Michael Fallon (pictured) has been appointed as senior independent Non-Executive Director, and Tolga Bilgin and Hassan Gozal have also been appointed to the Board as Non-Executive Directors. David McManus has more than 40 years of experience in the oil and […]
By John Lee. Erbil and Baghdad have reportedly reached an agreement on Erbil's contribution to the 2020 federal budget. According to Reuters, the state news agency INA says the deal includes a transfer of 250,000 barrels per day (bpd) from the oil-producing region to Iraq's national budget. Iraq's 2020 federal budget is currently under discussion […]
Iraq Business News is delighted to bring you a major new guide to business in Iraq. Published by Allurentis, in association with Iraq’s National Investment Commission (NIC), Iraq 2020 - Discovering Business contains a wealth of case studies, commentary and data; it’s 68 pages of essential reading for everyone with an interest in the redevelopment […]
By John Lee. Iraq’s Ministry of Oil has announced preliminary oil exports for January of 102,485,497 barrels, giving an average for the month of 3.306 million barrels per day (bpd), down from the 3.428 million bpd exported in December. These exports from the oilfields in central and southern Iraq amounted to 101,062,366 barrels, while exports […]
By John Lee. UK-based heavy lifting company ALE has been acquired by Dutch company Mammoet BV. ALE has worked on several major projects in Iraq, including Kerbala Refinery, and the oil fields at Majnoon, West Qurna 1 and 2, and Zubair. ING acted as financial advisor to Mammoet. (Sources: ALE, Mammoet)
IBBC hold Council Meeting, Sector roundtables, Reception & Dinner for Members on 28 and 29 January The Iraq Britain Business Council (IBBC) held its Council Meeting, Dinner & Reception for IBBC Members and distinguished guests on 28 January. The Council Meeting, hosted by Baroness Nicholson of Winterbourne, President of IBBC and the Prime Minister’s Trade […]
By John Lee. Iraq’s Ministry of Oil has announced final oil exports for December of 106,265,346 barrels, giving an average for the month of 3.428 million barrels per day (bpd), down from the 3.500 million bpd exported in November. These exports from the oilfields in central and southern Iraq amounted to 103,090,550 barrels, while exports […]
By John Lee. The Al-Ahdab oil field has reportedly resumed production, having been off-line for about a week due to protests by security guards. The 70,000-bpd field is developed by China’s CNPC. (Source: Bloomberg)
By John Lee. Iraq has reportedly approved contracts in a fifth bidding round for gas exploration contracts. According to Reuters, the exploration deals relate to the development of fields in the eastern governate of Diyala that are expected to produce more than 750 million cubic feet of natural gas within 3 years. The contracts have […]
