Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Iraq and Kuwait have selected British energy advisory firm ERC Equipoise (ERCE) to prepare a study on the development of shared border oilfields. Ministry spokesman Assem Jihad said a contract would be concluded in the coming days with the company, which was chosen from a list of four candidates. ERCE is a […]
Dana Gas has announced that its share of Pearl Petroleum's collections from the sale of condensate, LPG and gas in the Kurdistan Region of Iraq (KRI) rose 74 percent in the first half of 2019. The company, which owns a 35 percent stake in Pearl Petroleum, saw its share of the collections increase to $80.0 […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, today announced what it described as solid first half 2019 financial and operating results as the company continued to deliver the largest drilling program in its 48-year history: "H1 2019 revenue totalled USD 470 million, up 62 percent from the same period last year, […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Years of war and instability have damaged Iraq's gas and oil infrastructure, leaving it dependent on energy imports, despite having huge reserves. Now it wants to turn that around, with help from overseas […]
Dana Gas has announced that its share of the proved plus probable (2P) hydrocarbon reserves at Pearl Petroleum Company's Khor Mor (pictured) and Chemchemal fields in the Kurdistan Region of Iraq (KRI) have increased by 10 percent following the recent certification of reserves by Gaffney Cline Associates ('GCA'). 2P Reserves Upgrade The independently audited report, […]
By John Lee. Iraq’s Ministry of Oil has announced finalised oil exports for June of 105,603,325 barrels, giving an average for the month of 3.520 million barrels per day (bpd), down from the 3.572 million bpd exported in May. These exports from the oilfields in central and southern Iraq amounted to 101,705,000 barrels, while exports […]
By John Lee. Iran has reportedly reassured Iraq that there will be freedom of international maritime navigation in the Strait of Hormuz. Iranian President Hassan Rouhani (pictured) gave the reassurances to an Iraqi delegation visiting Tehran. (Source: Reuters)
By John Lee. The Kurdistan Regional Government's long-serving Minister of Natural Resources (MNR), Ashti Hawrami (pictured), is to be appointed to the post of Assistant Prime Minister for Energy Affairs in the new KRG cabinet. According to a report from Rudaw, it is not currently clear whether the move will result in the scrapping of […]
By John Lee. Iraq's Minister of Oil Thamer Ghadhban has announced the rehabilitation of the Al-Sumoud refinery in Baiji. He said initial production rates are running at 70,000 barrels per day (bpd). (Source: Ministy of Oil)
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. SOMO Reveals More Important Data on its Marketing Activities In my latest article I suggested that the State Oil Marketing Organization (SOMO) disclose details on its regular (term contract) marketing activities in […]
Former Unaoil executive pleads guilty to conspiracy to give corrupt payments Basil Al Jarah, Unaoil’s former partner in Iraq, pleaded guilty on 15 July 2019 to five offences of conspiracy to give corrupt payments in connection with the UK Serious Fraud Office (SFO)’s investigation into Unaoil. The offences relate to the award of contracts to […]
By Omar Sattar for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraq plans to launch pipelines to export oil through Jordan, Syria As Iraq exports most of its crude oil production, the Iraqi government is trying to diversify its oil […]
