By John Lee. The Iraqi Cabinet has approved a refinery project with a capacity of 100,000 barrels per day in Dhi Qar province. A Cabinet Spokesperson said the project will be implemented by three investment companies, but did not name them. (Source: Govt of Iraq)
Archive | Iraq Oil & Gas News
Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Iraq to Export Fuel to Lebanon in 2021
Iraq will begin exporting fuel to Lebanon starting January 2021 at "global prices", Minister of Oil Ihsan Abdul Jabbar announced. Abdul Jabbar's remarks came in a statement on Monday after his meeting with his Lebanese counterpart, Raymond Ghajar, in the Iraqi capital city of Baghdad. "Exported fuel will be part of a surplus over the […]
Iraqi Refineries: Continued Misalignment amid Investment Illusion
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Refining Industry - Continued Misalignment amid Investment Illusion More than fifteen years ago a new refinery-specific law was promulgated and then the Ministry of Oil-MoO paid millions of dollars for commissioned […]
Khor Mor Gas Plant reaches Record Production
Dana Gas has announced the production of sales gas from Pearl Petroleum's Khor Mor Gas Plant in the Kurdistan Region of Iraq (KRI) reached a new record level of 430MMscf/d on 15 December 2020. Fourth quarter's average gas production as of 15 December 2020 is 400MMscf/d, an 8% increase on Q4 2019's average production of […]
Tags: Dana Gas, featured, gas production, Khor Mor, Kurdistan News, mn, Pearl Petroleum, Sharjah, United Arab Emirates (UAE)
Iraq Finalises Oil Exports for November
By John Lee. Iraq's Ministry of Oil has announced initial oil exports for November of 81,262,376 barrels, giving an average for the month of 2.709 million barrels per day (bpd), down from the 2.876 million bpd exported in October. These exports from the oilfields in central and southern Iraq amounted to approximately 78,190,444 barrels, while […]
Weir to Deliver OPITO-Accredited Quals in Iraq
Weir Oil and Gas Approved to Deliver OPITO - Accredited Qualifications in Iraq Weir Oil & Gas has successfully achieved accreditation from OPITO, the global skills organization for the energy industry, to provide occupational training qualifications from the Weir Oil & Gas Centre of Manufacturing and Engineering Excellence in Southern Iraq. Weir Oil & Gas […]
GKP Shares Rally following Update
By John Lee. Shares in Gulf Keystone Petroleum, have rallied more than 20 percent after the company issued an operational and corporate update on Tuesday: Jón Ferrier, Gulf Keystone's Chief Executive Officer, said: "We have made significant operational strides in recent months, ensuring we remain on-track to achieve our revised targets for the year. I […]
GE Synchronizes Gas Turbines at Zubair Power Plant
By John Lee. GE Gas Power has said it has "marked a major milestone" by synchronizing two GT13E2 gas turbines to the national grid at the Zubair Permanent Power Generation Plant. The facility is owned by the Basra Oil Company (BOC) and located at the Zubair oil field, about 20 kilometers from the city of […]
Drilling approved at East Baghdad Oil Field
By John Lee. Iraq is to renew the contract to drill three new directional (non-vertical) oil wells in the East Baghdad oil field. The decision was approved at the meeting of the Iraqi Cabinet on Tuesday. The field is being developed by China's ZhenHua Oil. (Source: Govt of Iraq)
Jordan Finds Gas Field near Iraqi Border
By John Lee. Jordan has found new reserves of natural gas at its Risha field, close to its border with Iraq. Hala Zawati, the Jordanian Energy Minister, said: "... drilling operations at Well 53 in the Risha field have shown promising results, while exploration and drilling operations continue at wells 50, 51 and 52." (Source: […]
KRG to Resume Override Payments to Genel
By John Lee. Genel Energy has received notice from the Kurdistan Regional Government ('KRG') that override payments, whereby Genel receives 4.5% of monthly Tawke gross field revenues, will resume with the January 2021 invoice, to be paid in February 2021. Assuming the prevailing oil price, this translates into over $5 million of additional cash proceeds […]
China "Set to Bail Out Iraq" with Oil Deal
By John Lee. Iraq is reportedly poised to sign a multibillion-dollar contract with China's ZhenHua Oil, in what Bloomberg describes as a bailout from Beijing. Under the deal, Iraq's cash-strapped government which will receive money upfront in exchange for long-term oil supplies. Click here to read the full article. (Source: Bloomberg)