Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Medserv, the Malta-based oil and gas logistics support and services group, has said that its Iraqi business remained weak through Q1 2018. But in its Interim Report, the company said the forward order position in Iraq is much healthier for the second quarter of 2018 and those levels are expected to be […]
By John Lee. The Ministry of Oil has said that investors interested in th3e 70,000-bpd Diwaniya refinery project have until the end of July to submit documents. The full statement from the Ministry is shown below: The ministry of oil would like to Re-announce for the investment refinery in Diwaniya governorate with a capacity of […]
DNO ASA, the Norwegian oil and gas company with operations in Iraqi Kurdistan, is contemplating the issuance of a new, five-year senior unsecured bond with a minimum size of USD 400 million through a private placement. The coupon rate and the issue size will be determined during the accelerated book building commencing today. The net […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The Fifth Energy Bidding Round: Poor Management, Dubious Contracts and Bad Results - Attracted Unprecedented Opposition Prominent Iraqi oil experts and professionals drafted and endorsed a unified position’ statement (UPS) addressed to […]
KBR, Inc. announced today that it has been awarded a contract by the Basra Oil Company (BOC) for the development of the Majnoon Oil Field in Basra, Iraq. Under the terms of the contract, KBR says it will provide overall project management, multi-discipline engineering support, procurement and construction management services to BOC under a two […]
LUKOIL and the Basra Oil Company (BOC) signed a Development Plan for the West Qurna-2 field that provides for an oil production plateau of 800 thousand barrels per day. According to the Plan, the oil production of 480 thousand barrels per day will be reached in 2020 and 800 thousand barrels per day is expected […]
By Ruslan Mamedov for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Moscow’s interest in the Middle East and the growing Russian presence in the region go beyond Russian involvement in the Syrian civil war. For several years Russia has been building partnerships […]
By John Lee. The Ministry of Oil has announced that BP has signed a contract to develop the Kirkuk oil fields. According to Reuters, the deal with the North Oil Company (NOC) will see BP will boost output capacity from the six fields in the Kirkuk region to more than 1 million barrels of oil […]
By Alessandro Bacci. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq’s Fifth Licensing Round: Some Preliminary Considerations After the Auction On the morning and afternoon of April 26, 2018, I participated in a petroleum scholar workshop organized in London by the Association of […]
International Oil Trading Co. (IOTC) announced today that the company has reached a full settlement with the Defense Logistics Agency - Energy (DLA), resolving all issues associated with IOTC's delivery of fuel to the Coalition troops during the Iraq War. The $40 million payment to IOTC represents amounts due for fuel delivered and received by […]
By John Lee. According to a report from Platts, Iraq has reached "key preliminary terms" with ExxonMobil and PetroChina on the South Integrated Project. The project involves the development of the Nahr Bin Umar and Ratawi oil fields in southern Iraq, with gas plants at the two fields, a multi-field water injection project, storage, pipelines […]
By John Lee. China's Zhongman Petroleum and Natural Gas Group (ZPEC) and BP Iraq have signed an integrated drilling service contract for 15 wells at Iraq's Rumaila oilfield The contract amount is worth approximately $60 million. It is understood that the project was publicly tendered in November 2017. According to a statement from the company, […]
