Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The economy in the Kurdish region of Iraq has taken a hit after the referendum on secession. The central government in Baghdad has closed international airspace, tourists are staying away, and there’s been […]
DNO ASA, the Norwegian oil and gas operator, today announced flow rates of more than 3,000 barrels of oil per day (bopd) from the first zone tested in the Peshkabir-3 well in the Kurdistan region of Iraq. Nine other oil zones and one gas zone have been identified for testing in a 1.2 kilometer horizontal […]
By John Lee. The CWC Kurdistan-Iraq Oil and Gas conference, planned for London in December, has been postponed. The Kurdistan Regional Government (KRG) cited "the current logistical and other circumstances affecting the Kurdistan Region" for their request to reschedule the conference. CWC has said that new dates and venue will be announced shortly. (Sources: KRG, […]
Iraqi ministers intend to announce and discuss up to 60 intended projects at the IBBC summit conference this weekend in Dubai. In a surge of confidence, a number of Iraqi ministers will be unveiling a raft of infrastructure, oil, power and industrial projects across numerous industry sectors: Construction: Water treatment, waste water, housing, malls & […]
A delegation of senior executives from Iraq's National Oil Company visited senior officials with the National Iranian Drilling Company (NIDC) to discuss cooperation in drilling projects in Iraq. Cooperation and facilitation of NIDC's presence in Iraqi projects were discussed during the Monday meeting of the two companies. A high-profile delegation from Iraq comprising executives of […]
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. The Iraqi State Organization for Marketing Oil (SOMO) announced Nov. 2 that it is arranging with Turkey to allow SOMO to sell Iraqi crude from the disputed territories […]
Genel Energy has announced that the company has received an override payment of $6.41 million from the Kurdistan Regional Government (KRG). The payment represents 4.5% of Tawke gross field revenues for the month of September 2017, as per the terms of the Receivable Settlement Agreement. An entitlement invoice for that month's export deliveries has been […]
By Ahmed Tabaqchali. Originally published by Iraq in Context; re-published by Iraq Business News with permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Between February 2017 and mid-October, Rosneft signed a number of deals with the Kurdish Regional Government (KRG) that established for it, […]
By John Lee. Iraq's State Oil Marketing Organization (SOMO) has reportedly confirmed that talks are ongoing between Baghdad and Tehran to export crude oil from Kirkuk to the Kermanshah refinery (pictured) in Iran. SOMO Director Alaa al-Mussawi is quoted as saying that trucks would initially supply 15,000 barrels of crude oil per day (bpd) to […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. EITI Suspends Iraq Membership: A Serious Setback For Transparency That Should Be Addressed Promptly And Effectively The recent decision by the Extractive Industry Transparency Initiative (EITI) to suspend Iraq's status as a […]
At its meeting in Manila, the Philippines, the Extractive Industries Transparency Initiative (EITI) Board commended Iraq’s efforts to bring transparency to its oil exports and encouraged the Government of Iraq to make progress on a number of other aspects of the sector. While recognising the difficulties under which Iraq was implementing the EITI, the EITI […]
By John Lee. Iraq’s Ministry of Oil has announced preliminary oil exports for October of 103,730,680 barrels, giving an average for the month of 3.348 million barrels per day (bpd), considerably up on the 3.240 bpd exported in September. The exports were entirely from the southern terminals, with no exports from Kirkuk via Ceyhan. Revenues for […]
