Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
JICA to Support Iraq’s Reconstruction and Revitalization through Upgrade of Basrah Refinery Signing of Japanese ODA Loan Agreement for Iraq On 16 June, 2019, the Japan International Cooperation Agency (JICA) and the Iraqi Government signed a loan agreement at Ministry of Finance in Baghdad. The ODA (Official Development Assistance) loan amounting to JPY 110,000 million […]
By John Lee. FBM-KNM FZCO, an indirect wholly-owned subsidiary of Malaysia's KNM Group, has been awarded a contract for the supply and delivery of replacement heat exchangers to the Khor Al Zubair’s gas processing plant in Basrah Province. According to a regulatory statement, the contract from Basra Gas Company (BGC) is worth USD 2.096 million […]
Rosneft’s money might help Iraqi Kurdistan meet its domestic gas demand, but it could also cripple its long-term export ambitions, according to an oil analyst. In an opinion piece for Energy Reporters, Nick Augusteijn argues that Rosneft’s deals are vehicles for Russia’s "increasingly assertive foreign policy". Click here to read the full story. (Source: Energy […]
By John Lee. Petrel Resources has announced the appointment of Riadh Hameed as Non-Executive Director with immediate effect. Riadh Mahmoud Hameed (aged 38) is a quality control engineer working for an aerospace component company based in the USA. Prior experience has included over a decade of working in the oil and gas sector, to include […]
The President of Lukoil, Vagit Alekperov (pictured), has met with Thamir Abbas Ghadhban Al Ghadhban, Deputy Prime Minister and Minister of Oil of the Republic of Iraq, at the St. Petersburg International Economic Forum. The parties discussed the progress of West Qurna-2 project and agreed to consider the possibility of early commissioning of Eridu field […]
Iran Has Taken Invaluable Steps to Cement Ties with Iraq: Envoy Iran’s Ambassador to Iraq Iraj Masjedi highlighted the importance of bilateral relations between the two neighboring countries and said Tehran has taken major strides to strengthen ties with Baghdad. “We are trying to boost our relations with Iraq in all areas,” Masjedi said, addressing […]
Genel Energy has announced the appointment of Mike Adams (pictured) as Technical Director, and PDMR, with immediate effect. The appointment follows a repositioning of the role of Chief Operating Officer ('COO'), which is now split into 'pre-production' and 'on production' business lines. Reporting to the Chief Executive Officer, Mike is responsible for all pre-production activities […]
By John Lee. Russia's Rosneft will reportedly conduct geological exploration in Iraqi Kurdistan this year. CEO Igor Sechin (pictured) is quoted as telling the annual general meeting: "The company continues to implement the project to develop fields in Iraqi Kurdistan in the Middle East, where a geological exploration program is scheduled for this year to […]
US-based Capstone Turbine Corporation (Nasdaq: CPST) has announced today that it has secured an order for two C600 Signature Series microturbines to provide 1.2 megawatts (MW) of energy to power a triethylene glycol (TEG) dehydration facility in the Basra region of Southern Iraq. The order also includes Capstone’s new self-cleaning pulse filtration system which will […]
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. […]
