Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
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 […]
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Cancer hits residents of Iraqi oil city of Basra The deputy governor of Basra province, Zahra al-Bijari, claimed June 6 that cancer rates have been growing dramatically in the province as a […]
This weekend, the Iraq Britain Business Council (IBBC) hosted its annual members’ retreat at Cumberland Lodge, Windsor Park, which was generously sponsored by Al Burhan Group. As with previous years, it was very well attended by over seventy delegates, and allowed our members to mingle and network with representatives of other businesses, civil servants, and […]
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. President Nechirvan Barzani of the Kurdistan Regional Government (KRG) left Erbil for the first time since taking office and headed to the Iraqi capital on June 20 to discuss several outstanding […]
By John Lee. Shares in Wood Group closed Wednesday up 6.6 percent after the oilfield services group announced “significant growth” in profits in its pre-close trading update. The Scottish-based company said it has benefitted from increased activity in the Middle East, particularly Iraq. (Source: Wood Group)
By John Lee. Iraq’s Ministry of Oil has announced final oil exports for May of 110,737,293 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 […]
By John Lee. Oil services firm TechnipFMC (TFMC) has agreed to pay $296 million to resolve allegations that the company paid bribes in Brazil and Iraq. TFMC is the product of a 2017 merger between two predecessor companies, Technip S.A. and FMC Technologies, Inc.. The admissions and court documents establish that beginning by at least […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq exports around 3.5 million barrels of oil a day. Heightened regional tensions between the US and Iran and recent attacks on oil tankers in the Gulf have heightened security fears. The government […]
By John Lee. ExxonMobil's giant oil project in southern Iraq is reportedly on hold. According to Reuters, a combination of contractual difficulties and security concerns is delaying agreement on the $53-billion Southern Iraq Integrated Project, which includes the construction of a water treatment plant needed to boost oil production. The deal would have seen Exxon […]
