Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
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 […]
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 […]
