Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
ShaMaran Petroleum Corporation refers to the agreement announced on June 4, 2018 whereby the Company’s wholly owned subsidiary, General Exploration Partners, Inc. (“GEP”), agreed in a sale and purchase agreement (the “SPA”) with Marathon Oil KDV B.V. (“MOKDV”) ,a wholly owned subsidiary of Marathon Oil Corporation (“Marathon”), to acquire from MOKDV a further 15% working […]
By John Lee. Baghdad has reached an agreement with Kurdish authorities to resume exports from the Kirkuk oilfields, via the Turkish port of Ceyhan (pictured). In a statement on Friday, the Ministry of Oil said between 50,000 and 100,000 barrels per day would be exported through the pipeline on behalf of the Baghdad-controlled State Oil […]
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. Iraq working to make money, not burn it up in gas flares Iraq plans to expand capacity at its oil refineries while at the same time reducing the amount […]
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. Iraq's new Prime Minister Adel Abdul Mahdi has opted for the policy of his predecessor, Haider al-Abadi, by committing himself to the US sanctions on Iran. A few hours […]
Iraq Granted Exemption from US Sanctions on Iran’s Energy Exports Iraq will continue to have access to the energy it needs from Iran to generate and supply electricity, Brian Hook, the special representative for Iran at the US State Department, said. “Iraq has been granted an exemption” to the energy sanctions the US has re-imposed […]
By Nahwi Saeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. President Barham Salih on Oct. 27 announced that he has developed a proposal for resolving the dispute over Kirkuk between Baghdad and Erbil. Without going into detail, he said his plan focuses on the ethnic and […]
Rebuilding & Reconstruction - Iraq - Delivering the Vision Register Now IBBC returns to Dubai on 25 November with a full agenda of expert speakers to discuss the most important issues facing Iraq's economy. Baroness Nicholson of Winterbourne, President of IBBC and The Prime Minister's Trade Envoy to Iraq, Azerbaijan, Turkmenistan & Kazakhstan will open the conference, alongside […]
The United States has told Iraq that it will be allowed to keep importing crucial gas, energy supplies and food items from Iran after Washington reimposes sanctions on Tehran’s oil sector, three Iraqi officials said. The waiver is conditional on Iraq not paying Iran for the imports in US dollars, said the officials, who included […]
Tawke Licence: The Kurdistan Regional Government notes the updates by DNO and Genel Energy on November 1st regarding production increases under the Tawke Production Sharing Contract (PSC). The KRG is pleased with the efforts of the Tawke PSC Contractors in the Peshkabir area of the Tawke PSC Licence, where production has risen to over 50,000 […]
By John Lee. Iraq’s Ministry of Oil has announced interim oil exports for October of 107,530,008 barrels, giving an average for the month of 3.469 million barrels per day (bpd), a slight decrease from the 3.560 bpd exported in September. These exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan. […]
DNO ASA, the Norwegian oil and gas operator, today announced a rise in third quarter 2018 net profit to USD 63 million from operating revenue of USD 171 million on the back of solid production, regular export payments and higher oil prices. Operated production averaged 117,600 barrels of oil equivalent per day (boepd) during the […]
Iraq's Oil Ministry has approved a preliminary agreement with Vancouver-based Pacific Future Energy to build a refinery in Nassiriya. Pacific is likely to work on the project in tandem with SNC-Lavalin, a Montreal-based engineering and construction firm that has a partnership with Pacific dating back to 2015, and longstanding ties in Iraq. More details here […]
