Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Security forces in Basra province have reportedly prevented demonstrators from storming the West Qurna 1 oil field on Wednesday. A military source told Anadolu Agency that demonstrators blocked all roads leading to the facility, prompting local security forces to intervene. (Source: Anadolu Agency)
By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has ordered the state-run Dhi Qar Oil Company (DQOC) and Iraq Drilling Company (IDC) to develop the Nasiriyah oil field in Dhi Qar province. He said the Ministry has budgeted $140 million to raise production from the current 90,000 barrels per day (bpd) to 200,000 […]
By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] (pictured) as ordered Iraq's state-owned oil companies to devise an urgent plan to develop the Mansuriyah (Mansouriya) gas field, following what he described as the delay and the failure of foreign companies to start developing the field. The field, in Diyala province, was awarded in […]
By John Lee. Rosneft has reportedly sent a delegation to Duhok to discuss starting work on three oilfields next month. According to the report from Rudaw, the state-controlled Russian company will work at three locations: Batle, Zawita, and in Sarsang and Chamanke in Amedi. It is expected to extract 180,000 barrels of oil per day. In […]
KRG Prime Minister Nechirvan Barzani chaired on Wednesday a meeting of the KRG Oil and Gas Council. It was also attended by Deputy Prime Minister Qubad Talabani, relevant ministers, governors, supervisors of local administrations, and representatives of the Integrity Commission, Board of Supreme Audit, the Attorney General’s Office, and Security (Assayish). The Ministry of Natural […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Many ask why oil-rich Iraq needed to make Kuwait energy deal Iraq's government has signed a deal with Kuwait in a bid to alleviate its energy crisis after the lack of kerosene and […]
By John Lee. Italy's Saipem has been awarded a contract by ExxonMobil Iraq Limited for the DS6 project for the debottlenecking of the West Qurna field, in the south east of Iraq. Debottlenecking is a process that optimises a plant in order to increase its overall capacity. The works will have a duration of 23 […]
Kuwait has donated 17 mobile electric generators with a total capacity of 30,000 kilowatts to Iraq, the Undersecretary of the Kuwaiti Ministry of Electricity and Water, Mohammed Bushehri has announced. In a press statement, Bushehri said the donation came “to alleviate the electricity crisis in the Iraqi city of Basra”. “In the light of the […]
By John Lee. Iraq’s Ministry of Oil has announced final oil exports for June of 105,640,161 barrels, giving an average for the month of 3.521 million barrels per day (bpd), an increase from the 3.490 bpd exported in May. These exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan. Revenues for […]
By John Lee. Baghdad has reportely postponed plans to create a new national oil company until a new government is formed. In March, Iraq’s parliament voted to establish a new Iraqi National Oil Company (INOC) to manage its upstream energy sector, and serve as an umbrella body for its state-owned oil firms. More here from […]
By John Lee. Russian oil company Lukoil has published tenders for two projects at its West Qurna-2 oilfield: Decentralised Water Injection Facilities - click here for more information; Gas Turbine Power Plant Expansion - click here for more information. Interested companies have until 23rd July to apply for documents, and bids will be accepted until […]
By John Lee. The Ministry of Oil has extended the closing dates for tenders for two new oil refineries: Muthanna refinery, 70,000 bpd: More information here. Diwaniya refinery: 70,000 bpd: More information here. Companies interested in investing must submit their documents by the end of working hours on Sunday, 30th October 2018. For further information […]
