Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Platts reports that Iraq plans to launch a new Basrah Medium crude oil grade "whenever logistics allow," to provide "more stability" in existing grades. It quotes Ali Nazar al-Shatari, the Deputy Director General of the State Oil Marketing Organization (SOMO) as saying the new grade will have an API gravity of 29-30 degrees, […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The Parliament voted in its session No. 14 of March 5, 2018 on a law reinstating the Iraqi National Oil Company-INOC. Briefly, the law passed hastily at a critical pre-election time with […]
By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has said that Iraq will reduce imports of petroleum products by 25 percent, as the country restarts production at refineries that were damaged by the Islamic State group (IS, Daesh, ISIS, ISIL). He said that restarting production at the Seeniya, Hadeetha, Qayara and Kirkuk refineries […]
By Padraig O'Hannelly. Iraq's Ministry of Oil is to establish a Gas Pipeline Company (GPC), which shall perform the functions of the Gas-to-Power Aggregator, by the end of this month. According to documents obtained by Iraq Business News, the Director General of the Gas Pipeline Company will be appointed by the Council of Ministers based […]
By Padraig O'Hannelly. Iraq's Council of Ministers has resolved that the Ministry of Oil shall implement the process for awarding Supplemental Natural Gas Processing Contracts (SNGPCs) for the processing of associated gas to qualified investors through a competitive and transparent bidding process that adheres to best international standards. The SNGPCs will provide that investors will […]
Houston-based GTC Technology is providing a gasoline production complex project for ABG (Al Barham Group Companies) for the refining and distribution of petroleum products. The grassroots complex will process 12,000 BPD of straight run naphtha (SRN) and untreated natural gasoline (UNG) blend feed to produce high octane gasoline meeting Euro-V specifications. The plant will be […]
By John Lee. France's Total is said to be interested in bidding to build the greenfield 150,000-bpd Nassirya oil refinery. The Director General of the Dhi Qar Oil Company (DQOC), Ali Warid Hammood, told Reuters at the CWC Iraq Petroleum Conference in Berlin that bids are still open for the project, and that international oil […]
By John Lee. Saudi Basic Industries Corp (SABIC) is in talks to join Iraq's Nebras petrochemical project, according to a report from Reuters. An advisor to Prime Minister Haider al-Abadi told the news agency at the CWC Iraq Petroleum Conference in Berlin that talks are at advanced stage at ministerial level. He said SABIC would enter […]
By John Lee. The Basra Oil Company (BOC) is reportedly preparing to tender for a water injection project in Iraq if talks with ExxonMobil and PetroChina fail. Reuters quotes the head of the Oil Ministry's Petroleum Contracts and Licensing Directorate (PCLD), Abdul Mahdi al-Ameedi, as telling reporters at the CWC Iraq Petroleum Conference in Berlin, […]
By John Lee. Iraq’s Ministry of Oil has announced preliminary oil exports for February of 95,940,404 barrels, giving an average for the month of 3.426 million barrels per day (bpd), a slight decrease from the 3.490 bpd exported in January. The exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan. […]
By John Lee. Iraq's Oil Ministry has signed a a memorandum of cooperation with the Kuwait-based company Al-Arfaj, with a view to capturing and using associated gas from Iraq's oil fields. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] ending gas flaring and using the gas for petrochemical production was a priority for the Ministry. According […]
By John Lee. Iraq’s Ministry of Oil has announced final oil exports for January of 108,190,068 barrels, giving an average for the month of 3.490 million barrels per day (bpd), a slight decrease from the 3.535 bpd exported in December. The exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan. […]
