Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Below is the full Arabic text and source of what was reportedly said by Abdul Alal AL-Yassiry, the Chairman of the Iraqi Centre for Economic and Investment Consultation in Karbala. What prompts […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Introduction KRG’ gross oil export revenues, for 2017, stood at $7.9billion but it was left with only $3.9billion as net earnings. When the Region receives less than half of its gross oil […]
By Youssef Ali. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. President Donald Trump’s decision to pull out of the nuclear deal and sign the executive order to reimpose sanctions on Iran has had a significant impact on the global oil markets. This move […]
Shares in Genel Energy jumped 12 percent on Tuesday morning after the firm announced increased profits in its unaudited results for the six months ended 30 June 2018. Murat Özgül, Chief Executive of Genel, said: "Genel continues to deliver on its focus. We are generating significant free cash flow, averaging over $10 million a month […]
Benaa Al Basra has been endorsed by the Iraqi Prime Minister’s office to make Basra’s Oil Operations Centre (OOC) operational. The OOC has appointed Sicuro Group, a CMC-licenced, Iraq-experienced tracking, communications and information provider as the exclusive operating partner. According to a press release from Sicuro, "this new partnership will ensure the required expertise and […]
Baker Hughes, a GE company has been awarded a contract by the South Gas Company of Iraq (SGC) for fast-track solutions to help the recovery of flare gas for Nassiriya and Al Gharraf [Garraf] oilfields. The importance of the project was highlighted by the attendance of several high-level officials, including HE Jabbar Al-Luaib, the Minister […]
By John Lee. Iraq’s Ministry of Oil has announced interim oil exports for July of 109,847,268 barrels, giving an average for the month of 3.543 million barrels per day (bpd), an increase from the 3.521 bpd exported in June. These exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan. Revenues […]
Pursuant to the Kurdistan Regional Government Council of Ministers resolution No.73 (3 February 2016) establishing an independent review of the oil and gas industry, today new verified data on oil exports, consumption and revenues have been published covering the period from 1 July 2017 to 31 December 2017. This is a continuation from the first […]
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 […]
