Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi officials stress need to boost Arab ties while balancing relations with Iran The Iraqi city of Sulaimaniyah hosted the sixth-annual Sulaimaniyah Forum on March 6-7, where discussions focused on Iraq’s strategic significance in […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. How will US sanctions affect Iran-Iraq economic relations? The Trump administration is giving Iraq a few more months to continue buying oil and electricity from neighbouring Iran before the United States enforces sanctions […]
Shares in Gulf Keystone Petroleum (GKP) were trading up 3 percent on Monday after the company provided an operational and corporate update on its operations in Iraqi Kurdistan. Analyst Peel Hunt has reportedly re-issued its "Buy" rating during the morning. Operational Operational activity continues at the Shaikan Field (pictured) to complete the debottlenecking programme in […]
Pearl Petroleum Company Limited, the consortium led by Crescent Petroleum and Dana Gas of the UAE, has signed a new 20-year Gas Sales Agreement (GSA) with the Kurdistan Regional Government (KRG) to enable production and sales of an additional 250 MMscf/day that the consortium aims to produce by 2021 as part of their expansion plans […]
By John Lee. Shell is reported to be still in the process of evaluating the viability of the $11-billion Nebras petrochemical complex in Basra. The project was designed to produce 1.8 million mt/year of various petrochemicals, using naphtha as a feedstock. Last year, Reuters reported that Saudi Basic Industries Corp (SABIC) was in talks to […]
Intertek, the UK-based assurance, inspection, product testing and certification company, has announced the launch of the first independent crude oil, fuel testing and petroleum products laboratory in Iraq. The new hydrocarbon laboratory, located in the port of Khor Al Zubair, will support the increased demand for quality assurance solutions in the petroleum industry across Iraq […]
By John Lee. Oil Minister Thamer Al-Ghadhban met on Tuesday with Nhat Ozdemir, Chairman of the Board of Directors of Turkish conglomerate Limak. The minister said he was keen to develop the energy sector through cooperation with international companies, noting the presence of promising opportunities in Iraq. Mr Ozdemir said his company wants to cooperate […]
By John Lee. Iraq’s Ministry of Oil has announced interim oil exports for February of 101,387,615 barrels, giving an average for the month of 3.621 million barrels per day (bpd), down from the 3.649 bpd exported in January. These exports from the oilfields in central and southern Iraq amounted to 99,120,006 barrels, while exports from […]
Iranian President Hassan Rouhani will travel to Iraq on March 11 for an official visit. Heading a high-ranking delegation, the Iranian president will be visiting the Arab country at the official invitation of Baghdad. It will be Rouhani’s first official visit to Iraq during his tenure. On Monday, Iranian Deputy Foreign Minister Abbas Araqchi met […]
By John Lee. Genel Energy has announced that approval has been given by the Kurdistan Regional Government (KRG) regarding the acquisition of stakes from Chevron in the Sarta and Qara Dagh (pictured) blocks, in the Kurdistan Region of Iraq. According to a statement from the company, the acquisitions have now closed and Genel therefore has […]
By John Lee. A Chinese company has reportedly won a contract to build a natural gas liquids (NGL) plant in Basra. According to Xinhua, China's Petroleum Engineering and Construction Corporation (CPECC) signed the contract on Wednesday with Iraq's Basra Gas Company (BGC). As a result of the new plant, BGC will increase its gas production […]
Deloitte report on Oil and Gas review in the Iraqi Kurdistan Region - Q3 of 2018 On Wednesday, the KRG 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 July 2018 to 30 September 2018, after a review […]
