Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
A top Iranian energy official unveiled plans for a rise in natural gas exports to neighboring Iraq next year. In an interview with Tasnim on Saturday, Managing Director of the National Iranian Gas Company (NIGC) Hamid Reza Araqi said the country’s exports of natural gas to Iraq will increase during the spring and summer of […]
Russia's Gazprom Neft has launched the commercial operation of a 1.6 billion cubic metres capacity gas processing plant at its Badra field, Iraq. Alexander Novak, Minister of Energy of the Russian Federation, was present at the opening ceremony for the new facility, together with the Minister of Oil of the Republic of Iraq, Jabbar al-Luaibi, and Gazprom Neft CEO Alexander Dyukov. Dry feed gas, […]
Genel Energy has announced that it has instructed the trustee for the GENEL01 bonds (ISIN: NO 001 0710 882) ('GENEL01' or 'the Bonds') to summons a bondholders' meeting to resolve a refinancing of the existing Bonds. The Company proposes to refinance GENEL01 through a partial early redemption and debt reduction by replacing the existing Bond Agreement […]
Genel Energy has announced an update on activity at the Taq Taq field (Genel 44% working interest). The TT-29w well, which was drilled to appraise the northern flank of the Taq Taq field, has been completed as a producer after successfully encountering oil bearing Cretaceous reservoirs. The well, which was drilled to a measured depth […]
US Ambassador to Iraq Douglas Silliman (pictured) has joined other distinguished guests and speakers at the Iraq Banking and Investment Summit on December 2. The Ambassador spoke about the need to create economic opportunity for Iraq’s younger generation through a transition from a government-controlled, oil-based economy, toward a more diversified free market system that fosters […]
By John Lee. Iraq’s Ministry of Oil has announced preliminary oil exports for November of 105,050,804 barrels, giving an average for the month of 3.502 million barrels per day (bpd), considerably up on the 3.348 bpd exported in October. The exports were entirely from the southern terminals, with no exports from Kirkuk via Ceyhan. Revenues for […]
By John Lee. Russian oil company Lukoil has said it will present its plans t0 develop the West Qurna 2 oil field to the Ministry of Oil by the end of the month. Company boss Vagit Alekperov (pictured) told reporters that his company is negotiating regarding production volumes, timelines, and investment. (Source: TASS)
The UK's Serious Fraud Office (SFO) has charged two further individuals in relation to the Unaoil investigation. Paul Bond and Stephen Whiteley have both been charged with conspiracy to make corrupt payments to secure the award of contracts in Iraq to Unaoil’s client SBM Offshore. The charges relate to alleged corrupt conduct within Unaoil, between […]
Gulf Keystone Petroleum (GKP) has announced the appointment of Jacobus ("Jaap") Huijskes as a Non-Executive Director with immediate effect. Jaap Huijskes was most recently a Director at OMV, the Austrian integrated oil and gas company listed on the Vienna Stock Exchange. While at OMV, he was responsible for Exploration and Production (E&P) and oversaw the […]
By John Lee. The escalating tensions between Baghdad and Erbil have triggered an unprecedented upsurge in applications from wealthy Iraqi nationals for second citizenship programs. Data collected by Savory & Partners, one of the largest companies in the Middle East that provides citizenship-by-investment programs, shows that compared to the same quarter last year, interest has […]
Advertising Feature Basra Oil, Gas & Infrastructure is held under the high patronage of the Basra Governorate, the Basra Council and Iraq’s Basra Oil Company from October 30 to 31 in Beirut, Lebanon. Government officials, project stakeholders and buyers and suppliers attend to explore the expanding energy projects in the South of Iraq. Jereh Group made […]
By John Lee. Iraq has reportedly contracted Japan’s Toyo Engineering to help build a gas pipeline to Kuwait and a petrochemical plant as Baghdad. According to a report from Reuters, the move will help Iraq to reduce flaring and finish paying the reparations owed to Kuwait for the invasion in 1990. The project would allow […]
