Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. US-based Honeywell has signed a memorandum of understanding (MoU) with the South Gas Company (SGC) to process 300 million cubic meters of gas per day from the Artawi field in southern Iraq. (Source: Oil Ministry)
By John Lee. Reuters has reported that the Iraqi government has authorised the Ministry for Oil to sign an initial agreement with Netherlands-based Royal Boskalis Westminster to build an "offshore oil export installation". IBN's requests to the company for confirmation have not been returned. (Source: Reuters)
By John Lee. Iran’s gas and electricity exports to Iraq are reportedy expected to reach $5 billion by the end of the current Iranian calendar year, which ends on March 21, 2020. Mehr news agency quotes the Secretary General of Iran-Iraq Joint Chamber, Seyed Hamid Hosseini, as saying that if Iraq agrees it is possible […]
By Dana Taib Menmy for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Kurdistan Regional Government (KRG) Prime Minister Masrour Barzani presented his new Cabinet July 10, vowing to institute reforms and reinvigorate the semi-autonomous government in Erbil, Iraq. Three main parties in Iraqi Kurdistan were […]
By John Lee. The Iraqi Cabinet held its regular meeting in Baghdad on Tuesday under the chairmanship of Prime Minister, Adil Abd Al-Mahdi, at which it discussed a series of recommendations by the Ministerial Committee for Energy regarding a number of strategic projects aimed at increasing Iraq’s oil production and exporting capacities. The Cabinet approved […]
The Al-Bayan Center for Planning and Studies has just published a new report from our Expert Blogger Ahmed Tabaqchali: The current debate over the interpretation of the 2019 budget that governs the Kurdistan Regional Government’s (KRG) share of the federal budget in return for contributing 250,000 bbl/d to federal oil exports has echoes of the […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. SOMO Discloses Data on its Spot Sales[1] In an unprecedented move, SOMO and the Ministry of Oil-MoO disclosed recently detailed data on quantities and revenues of crude oil sold directly through "electronic […]
By John Lee. Gulf Keystone Petroleum (GKP) has announced its intention to commence a share buyback programme, using the company's existing cash resources to make market purchases of Gulf Keystone common shares for a maximum consideration of US$25 million, with the first stage of that programme being initiated now to purchase Gulf Keystone shares for […]
By Padraig O'Hannelly. A senior oil executive has predicted that Iraq could surpass Saudi Arabia as an oil producer. Addressing delegates at CWC's Iraq Petroleum conference in London, Majid Jafar (pictured), CEO of Sharjah-based Crescent Petroleum, said: "Iraq is hugely underexplored. We at Crescent know of 300 structures just in the Western Desert that have […]
By John Lee. Iraq and Oman have signed a memorandum of understanding (MoU) on cooperation in the oil and gas sector. Both sides will investigate the construction of oil storage facilities in both countries, the export crude oil to Oman, and the import of oil products back into Iraq. They will also consider building a […]
By John Lee. The Iraqi government has issued a report on the implementation of its 2018-2022 programme. The report covers the period from October 2018, when the government came to office, to April 2019, providing an overview of what has been implemented from the government programme, identifying obstacles that may impede the completion of several […]
By John Lee. Iraq’s Ministry of Oil has announced preliminary oil exports for June of 105,603,107 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 […]
