Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. After decades, Iran, Iraq ready to Dredge the Shatt al-Arab Hope of restoring a clean water lifeline to Basra province is on the rise again with plans by the Iraqi and […]
By John Lee. ShaMaran Petroleum has announced the completion of its acquisition of an additional 7.5% participating interest in the Atrush Block [from Marathon Oil], previously announced on April 3, 2019, bringing ShaMaran’s total interest in Atrush up to 27.6%. ShaMaran also announces that Atrush has been producing at approximately 32,000 barrels of oil per […]
By John Lee. Oil production in the Al Faihaa area (Block 9) in Basra is reportedly expected to increase in the coming year with increasing investment. Dragon Oil CEO Ali Al Jarwan told Oil & Gas Middle East that the company plans to increase production in Iraq to 100,000 barrels per day (bpd) by 2025. […]
By Hamdi Malik for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. ExxonMobil evacuated dozens of its non-Iraqi employees from Iraq on May 18. The evacuation follows a US State Department decision to withdraw its non-essential staff from the US Embassy in Baghdad and its consulate […]
By John Lee. Iraq’s Ministry of Oil has announced preliminary oil exports for May of 110,736,670 barrels, giving an average for the month of 3.572 million barrels per day (bpd), up from the 3.466 million bpd exported in April. These exports from the oilfields in central and southern Iraq amounted to 106,675,881 barrels, while exports […]
Gulf Keystone Petroleum (GKP) has announced that Sami Zouari (pictured), Chief Financial Officer (CFO), will be stepping down as CFO and a Director of the Company during the second half of the year, and will leave the business by no later than 2 December 2019. Mr Zouari has been CFO of GKP since January 2015 […]
By Kamal Chomani for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi Prime Minister Adel Abdul Mahdi is under great pressure from his government to force the Kurdistan Regional Government (KRG) to deliver the allotted 250,000 barrels of oil per day to the State Organization for Marketing of […]
By John Lee. According to a report from Reuters, employees from Exxon Mobil will start returning to work at the West Qurna 1 oilfield on Sunday. Sources told the news agency that the company had received assurances from the Iraqi Ministry of Oil and the Basra Oil Company (BOC) that its staff would receive extra […]
There can be no doubting Iraq’s oil credentials. It is Opec’s number two oil producer, second only to Saudi Arabia, and holds the world’s fifth-largest proved oil reserves. Production is on the rise, having nearly doubled over the past decade, averaging around 4.5 million barrels per day in 2018. Almost 90 per cent of the […]
By John Lee. Oil giant BP has just published details of its transactions with the Government of Iraq in 2018 in respect of the Rumaila oilfield, as part of its Report on Payments to Governments 2018. Click on image below to see in more detail: (Source: BP)
Today, the KRG's Regional Council for Oil and Gas Affairs has published new verified data on the Kurdistan Region’s oil exports, consumption and revenues, covering the period from 1 October 2018 to 31 December 2018, after a review of the sector by the international “Big 4” audit and consulting firm, Deloitte. The Regional Council for […]
By John Lee. Contrary to recent reports that the US had granted a waiver to Iraq to allow it to continue buying power from Iran, a State Department spokeswoman reportedly said on Wednesday that this was not the case. Reuters quotes Morgan Ortagus as telling reporters that Secretary of State Mike Pompeo has not made […]
